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A Resolution Approving and Adopting the Village of Oak Park Climate Ready Energy Loan Program Guidelines
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Introduction
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Approve a Resolution to approve and adopt the Climate Ready Energy Loan program guidelines.
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Recommended Action
Staff recommend that the Village Trustees approve the Resolution.
Prior Board Action
The Board has taken the following prior action(s):
* On January 27, 2026, the Village Board provided input to staff on the Loan guidelines.
* The Village Board approved $750,000 in the 2026 Fiscal Year Budget for the Energy Grants.
* The Village Board approved the 2025 Energy Grant Guidelines at the January 14, 2025 Board Meeting.
Background
The Climate Ready Oak Park Plan commits the Village to reducing Greenhouse Gas emissions by 60% by 2030. Residential properties represent 38.8% of total community-wide emissions in 2022. The Village's Climate Ready Energy Grants have been providing residents with monetary assistance to make energy efficiency upgrades.
This resolution aligns with CROP actions EN03 and BD03.
In FY2025, the Sustainability budget included $750,000 allocated towards the Climate Ready Energy Grants. Grant awards previously fell into three tiers based on income.
* Households at 80% or below AMI were eligible for up to $10,000.
* Households between 80% and 120% AMI were eligible for up to $5,000, matching.
* Households above 120% AMI were eligible for up to $1,000, matching.
As of December 2025, 84 applications were submitted, including 34 for Tier 1, 15 in Tier 2, and 35 in Tier 3. These applications represent less than the $750,000 allocated for the program in 2025. Hearing feedback from applicants and potential applicants and seeking input from the OPCAN Climate Coaches, staff determined that there are changes that could be made.
One need identified was to provide upfront capital for higher income levels. Choosing a loan format to do so provides larger upfront capital while...
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