Maricopa County is investing $500,000 through the Maricopa County Industrial Development Authority (MCIDA) to support sustainable housing improvements. The funds will go to Sustainable Home Improvement Loans of Arizona (SHILA), the state's first nonprofit Green Bank, focusing on helping lower-income households.
As expressed by Maricopa County Supervisor Clint Hickman, the county is channeling efforts toward simultaneous economic growth and community sustainability. "By investing in SHILA, we are helping low- and moderate-income homeowners access affordable financing options for energy-efficient improvements that will lower their utility bills, renovate their homes, and improve their overall quality of life," Hickman stated, accoding to a release from the Maricopa County. The pledged funds from MCIDA, aim to support over 425 households in Maricopa County with energy efficiency initiatives.
SHILA, with the backing of MCIDA, plans to spearhead $5 million worth of energy-saving projects over the next three years. The anticipated outcome is not only lower energy costs for families but also environmental benefits attached to the use of eco-friendlier home improvements such as insulation and HVAC systems updates. Ty Lorts, CEO of SHILA, acknowledged the support from MCIDA with gratitude. “This funding will allow SHILA to begin transforming homes across Maricopa County, helping residents access a healthier living environment, lower utility bills, and have a greater quality of life,” he stated in a release by the Maricopa County.
This investment aligns with Maricopa County’s goals to boost community development, create jobs, and improve home affordability. Led by the Maricopa County Industrial Development Authority (MCIDA), it aims to promote economic growth and affordable housing, laying the foundation for a more resilient and eco-friendly future in the region.
For more information on the investment and SHILA's operations, contact CEO Ty Lorts at [email protected]. SHILA aims to offer affordable financing for home upgrades and sustainable small business development, with a focus on creating green jobs and fostering a sustainable future for Arizona.
