PHOENIX — More than 425 people living in Maricopa County are set to benefit from a number of home improvement projects aimed at lowering their utility bills.

The project will help families pay for a variety of upgrades through an affordable financing solution called the Arizona Sustainable Home Improvement Loan (SHILA), Arizona’s first nonprofit green bank.

This nonprofit organization benefits low- and moderate-income homeowners. The average value of the projects the company seeks to support is $12,000.

Future SHILA projects are worth a total of $5 million, according to a Monday news release from Maricopa County officials.

Where does the money for home improvement projects come from?

Funding for these home improvement projects is provided by the Maricopa County Industrial Development Authority (MCIDA).

The agency, which has been in existence since 1973, helps create and retain jobs in Maricopa County. It also focuses on helping county residents improve their standard of living.

MCIDA has issued more than $12 billion in bonds and invested millions of dollars in the Valley to expand people’s access to affordable housing and jobs.

Maricopa County District 4 Supervisor Clint Hickman said he is excited to support SHILA’s efforts.

“With our investment in SHILA, we are making it easier for low- and moderate-income homeowners to make affordable energy-efficient improvements that reduce utility bills, retrofit their homes, and improve their overall quality of life. We help them access financing options,” Hickman said. stated in the release.

This funding will support sustainable communities, he added.

“This partnership not only strengthens the local economy, but also contributes to a more resilient and sustainable future for Maricopa County,” Hickman said. “We are excited to support SHILA’s work and the positive impact it has on our community.”

How can home improvement projects help the people of Maricopa County?

SHILA offers financing options to help families pay for a variety of home improvement projects, including:

• insulation
• roofing material
• door
• window
• electricity
• Air conditioning equipment

SHILA CEO Ty Lortz said they look forward to helping more families through the influx of funds from MCIDA.

“With their help, we can begin to make home improvement financing available to the families who need it most,” Lortz said. “With this funding, SHILA will begin retrofitting homes across Maricopa County to give residents access to healthier living environments, lower utility bills, and a better quality of life. Masu.”

Who is eligible to receive assistance with Maricopa County home improvement projects?

People who want to help fund home improvement projects You can apply from the SHILA website.

However, Lortz said any contractor used must first be vetted by SHILA.

“Our loans are available to all homeowners,” Roets said. KTAR News 92.3 FM on monday. “We are unique in that we do not require a minimum credit score for approval, but rather focus on ability to repay. This allows SHILA to approve many people who previously could not. .”