“Anything works, as long as people are honest,†said I to Asheville City Attorney Bob Oast, “Even communism.†Oast, being as politically neutral as his job requires, had stated that he could see how a proposal from City Councilors Brownie Newman and Robin Cape would work. This is the plan formerly referenced on this blog to seek legislation to allow the city to float bonds to pay for private green retrofits. Citizens would voluntarily accept a greater tax assessment in return for a piece of the bond revenue. They would use the funds to install technologies on their property to reduce their carbon footprint. The bonds would pay for the installations, and the energy savings would pay for the increased assessments.
“If I want to upgrade, am I not free to seek a loan on my own?†asked Dr. Carl Mumpower. Cape replied that the proposed scenario would allow people with bad credit to get loans for green retrofits. Mumpower asked if the nation was not suffering from “liar loans.†He asked what the city was to do if people with good intentions could not repay their loans – er, higher assessments. The city couldn’t repossess their houses for unpaid solar panels. Cape made it very clear that the only thing standing between a person and their wants was a little assistance from government.
Vice Mayor Jan Davis was more outspoken than usual. He saw too many “open ends†with the proposal. “To me it looks like an accounting nightmare.†Davis told about how in the 1970s, people invested a lot in technologies that didn’t work. He asked how people would know they were installing effective equipment. The city’s energy coordinator, Maggie Ullman, said the debt could be used to pay for things like calking. The mayor opened the floor for public comment. Sydney Bach, who had been in attendance to address another matter, sputtered and muttered and sounded like he choked on his sandwich. He took the mike and shared his “absolute disbelief†at what council was considering.
After the meeting, I asked Ullman how public funds could go toward private good. She said that green technology had been considered to be a public good, but couldn’t give me any details. I took the matter up with Oast, who reassured me the state still had no such ruling, even though California did. California’s logic was that if enough people invested in green retrofits, then fewer power plants would have to be built. Oast suspected Asheville’s request for the enabling legislation would find backing and be committee’d.