Great idea! That's what LCF City Council members said of the L.A. County Energy Program as they adopted a resolution joining and supporting that program.
Never mind that the loans offered are incompatible with the terms of most mortgages.
Don't even consider the implications of borrowing against property in the midst of a deep recession brought on by a mortgage meltdown — or that foreclosure rates are as high as they have ever been. Perhaps one might ask where debt-ridden L.A. County is going to get a billion dollars to fund this program or the wisdom of their entry into the home-equity loan business. Note also that L.A. County quietly diverts all carbon credits from this program to its own use.
Fiscally irresponsible federal, state and local officials are bankrupting every government entity—including LCF. It comes as no surprise that current LCF budget hearings are being held in such a way as to effectively eliminate all public scrutiny or input and that the LCF City Council refused to open city goals, objectives and tasks to a proper public hearing.