Canyon Lake homeowners are invited to learn about the†Western Riverside Council of Governments'†HERO Program at a free “HERO Event” on Wednesday, April 24, at 7 p.m. in the Sunset Beach Room at the Lodge.
Featured topics will include how the HERO Program financing works, solar electric systems and whole house fans. Refreshments will be served. Space is limited to the first 50 people who call 877-652-7888.
The HERO Program is offered through a partnership between Western Riverside Council of Governments (WRCOG) and Renovate America, Inc. The Program provides HERO Financing for permanently affixed energy efficiency, water efficiency and renewable energy products. HERO Financing is repaid through an assessment on one's property tax bill over 5 to 20 years, based on the useful life of the products. Upon sale of the property, the balance generally stays with the property.
The HERO Program helps property owners improve comfort and lower utility bills. It also helps to boost property values, as studies have shown that energy efficient homes tend to be more attractive to home buyers. Plus, because more people are making investments in their properties, local contractors are hiring new employees to help meet the increased demand for services.
Financing through HERO offers a number of benefits to property owners. First, HERO offers competitive financing rates and allows projects to be paid off over up to 20 years, depending on the size of the project. Second, financing approval relies primarily on equity in the property, and does not require a credit check. Third, because approved improvements are paid for through property taxes, interest is typically tax deductible for the property owner.
To be eligible for HERO financing, homeowners must meet the minimum criteria requirements. For residential properties, one must be the registered owner, current on property taxes for the prior 12 months, show proof that property taxes for the property have not been paid late more than once during the prior three years, or since purchased if owned for less than three years. There must be no late payments on property debt for the past 12 months (through funding), no liens on the property, no bankruptcy in the past seven years and the property cannot currently be an asset in a bankruptcy proceeding.
Applications can be completed online, by calling in, or by submitting a hard copy. Most applications can be approved instantly or the same business day. Applications can be found at www.beaRiversideHERO.com. To apply by phone, call 877-747-4889. Hardcopy applications can be sent to The WRCOG HERO program, 4080 Lemon Street, 3rd floor, MS 1032, Riverside, CA, 92501-3609.
“HERO is a win-win for Canyon Lake residents” says local solar contractor TylerMichael, of HelioPower, who has booked and installed several solar projects in Canyon Lake. “More jobs and increased hiring, improved property values and lower utility bills for our customers. The HERO Program provides a huge benefit for our community.” Wednesday's event is sponsored by HelioPower.
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