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Community Development Corporations Are April 15, 2002. Last week, the Senate made final amendments to Section 904 of the Energy Policy Act of 2002, currently being debated on the floor of the Senate. Section 904 of the Energy Policy Act of 2002 establishes a pilot demonstration program within the Department of Energy specifically targeting community development corporations for assistance. The "Low Income Community Energy Efficiency Pilot Program" establishes a demonstration program to improve and encourage investments in energy conservation and alternative energy supplies in low-income communities using community development corporations as a primary deliverer of services. The amendment offered last week by Senator Paul Wellstone would allow local units of government to also access the program, support energy planning activities and increase the authorization by $10 million annually. Earlier Committee amendments opened the program to Native American tribes. The provision, drafted with the assistance of clients of Rapoza Associates, now authorizes $20 million annually for a 3-year competitive grant program to community development corporations for investments that develop: alternative renewable and distributed energy supplies; energy efficiency projects and energy conservation programs; studies and other activities that improve energy efficiency in low-income rural and urban communities; planning and development assistance for increasing energy efficiency of building and facilities; and technical and financial assistance to local government and private entities on developing new renewable and distributed sources of power or combined heat and power generation. The effort to get the authorization included in the Senate package was
led by Senators Durbin (D-IL) and Stabenow (D-MI) with the support of
Senator Bingaman (D-NM), Chairman of the Senate Energy and Natural Resources
Committee. This is an exciting new initiative that will demonstrate how
investments in alternative energy technologies and energy efficiency and
conservation programs can help create jobs and drive economic development
in low-income communities. It will also demonstrate how community development
corporations can become important partners in our Nation's efforts to
achieve energy independence. You can find out more about the Energy Policy Act of 2002 by going to Library of Congress Thomas site and going to the Senate Energy and Natural Resources Committee website. To see the final language on Secion 904, click here. Please call your Senator or Representative today and voice your support for this bill.
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