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Jason Nunemaker, City Manager of Fellsmere, confirmed with Commissioner O'Bryan <br />that an individual could receive the 30% Income Tax Credit and amortize the renewable energy <br />expense on their tax bill for a twenty-year period. <br />Mr. Nunemaker asked whether the P.A.C.E. Bond could be granted for hurricane safety <br />improvements, and Commissioner O'Bryan clarified that the Bond was strictly for energy-related <br />improvements. <br />Commissioner Wheeler wondered what the maintenance costs would be for the solar <br />improvements; how long the 30% income tax credit would remain in effect; and whether the tax <br />credit would be 30% or $1,500 dollars, the maximum credit allotted when he installed a new air <br />conditioning system. <br />Commissioner O'Bryan believed that the credits for an air conditioning system were <br />in a different category than the renewable energy credits. <br />A public speaker inquired what percentage interest rate would be charged to the <br />homeowner by the County, and also wanted more information on the longevity of the solar <br />systems. <br />Commissioner O'Bryan said that the P.A.C.E. bond would be County -issued and would <br />therefore have a lower interest rate than a corporate bond, adding that the interest rate was <br />approximately 5.8% on the first bonds issued in Boulder. He advised that the life span of a solar <br />hot water system is approximately fifteen to twenty years, and that a full photovoltaic system has <br />about a 30 -year life expectancy. <br />7 <br />February 18, 2010 <br />Economic/Goal Summit II <br />