lingering over us why no what happened what happened well i can't tell you exactly what happened because i was i wasn't there but i wasn't there when the event happened so on i know we had a hundred year event maybe even more than a hundred year event there was a big just charge of water and i was told the culvert on the end lifted up out of the ground and knowledge i agree with them for the quarter looked at where the water came from on yeah i can't speak to any of that i know the fire department was there that night the road crew was off and zillion other places on the fire department was what makes you think it's on you know i don't know if it's going to happen again again like i said we had an engineer to study the situation he told me right up front that you cannot it's very difficult to engineer for one hundred year event it's just it's hard to do fema paid us to put the pipe back in the ground and that's what they gave us and we spent a lot more than that because  know i just can't speak to any of that you know we did the best we could we spent a lot more money than fema paid us to put the bike back in the ground so we did the best but you didn't put it back in the same way so lifted the pipe you know they were trying to prevent that in the future well perhaps you know we're just trying to do the best that we can and you cannot prepare for you know events are going to happen we could have a huge event yeah right so anyway you know i notice that your program too is it sits down lower than your floor right you're finished for let me just ask you this say what say there was an event that had nothing to do with around and they come around and they say yeah you got damage file these lames the beam up people look at that dan brown around yeah well that's how we got money to you know pick  and my mortgage company the new more his company would have to like i don't i think it's called subordinate get s b a to back off of that to and they won't i mean they want to be it's just not fair because this is was not and we did i mean it's nothing you know and then you guys going to put the new color in you did a fantastic job but how can you how can i get that letter and say that there was no you know this is nothing to do with the way the town had but that in to begin with i were maintain we need to look look into it because this is you know it's driving us crazy because every month from going to pay up a man you're born here i don't even know what happens if you say you were in rochester vermont during irene area and there was fire wasn't just us it was all over the place all over the place this was not a nor ordinary about i don't think it's our place to figure out what then what size it was i what what would you think what would you want us to do at this point where you would you ask me are you asking that you know i mean like what are you asking us to do i'm asking you to contact your insurance company  there what's the major issue well i think they're afraid that the roads through narrow now with the increased traffic here if you have to pass each other that well but i don't think you'll ever get in that situation you come right off the road when you're in the parking lot if you're coming this way wait a millisecond and you'll be this is so short you're saying yeah because you're becoming in this way i mean i do that you know it's no different from pulling out your section and having to wait currently close as in on this particular course on the currently our long term debt is at six hundred thousand the bond is three hundred fifteen the two thousand moving truck is a hundred and ten and two thousand and thirteen tr better i start getting a little worried when you know we start spending all this money very no brands or big work and we don't get the other money back in maybe two or three months or whatever and then we do have money because couple years ago we started out run between in their right about twenty thousand dollars to pay period when the snow season comes through but normally around like between thirteen and fifteen thousand pay period then you know that's for the last like our hands on the part time people don't get paid for you know holidays the cation sick day i don't think they should get paid just because the office closed down the carpets either i think they can rearrange their hours around and and  the benefit that part time people get is that they can schedule their hours and work different hours and full time people can so this is where you know one of the reasons we pay them pay from our paying them for their time off their everything for the surface it's been great great great  information because if that if the exchanges i mean some of the talk is if the exchanges are really good you might just want all the employees to buy insurance and offer insurance or you  homeowners can do energy efficiency or removal christmas to their home up to thirty thousand dollars and the mechanism by which they get funding is to lean on their property so they are using the equity in their home and  credit facility and so each town would hold a vote sign up with this credit facility and then decide how they want to administer the program and i should be very clear that although no town in vermont has let us know that they want to do that any time you couldn't is for this program on their own however they see that efficiency vermont has been asked to task by the state to provide that service to towns because there's an overwhelming response to from towns about how there is just no way they could administer a program of this kind of complexity  and it's just doesn't fit in with any other in this bill services so what efficiency vermont will do for towns is provide basically all of the services that you would need to run the program with the exception of holding the vote for you which we cannot do we can't formulate adopt the program that's something that the select for would have to do and we cannot we can we don't have the authority to tax people so although we can bill people we can send bills on behalf of the assassin to homeowners if somebody becomes delinquent it is the responsibility of the town under the law to use their authority to collect the assessment as they use their authority to collect taxes so it's the same mechanism by which taxes are collected so we can get into more detail about what that kind of looks like but that's what the town is basically pledging by signing the agreement not by holding the vote so we separated the building of pace so that efficiency provides billing services and collect payments on behalf of the town for all assessments that are current it's only those assessments that go into delinquen y that would then become the responsibility of the town to collects and in that case they would you know i don't know under health policy but it's you know there's letters there's notices and eventually there's four  lot easier because you don't have to foreclose on the property to get senior assessments paid but now that it's junior to the mortgage which is a change that was made because of mortgage regulators in the states it does become a little more complicated and that's really you know if i was on in your shoes that would be the biggest consideration is that that's the responsibility that you can't really so about if you will you know it's likely to not be extremely  common but it's likely that it would happen at some point so and unfortunately i don't i don't have a record of pace the cessna's to talk to you about because we're just beginning the program  but we've talked to a number of towns who are working out a policy for pay so that they can for a plan in the event that you know they do have to go into this procedure and there are you know sort of the s and fees that accrue delinquent taxes would accrue the same way for delinquent pace's has meant so there is a resource there are some resources available when it does happen to compensate the town for there are three basic eligibility requirements in terms of money in dollars the first is that the assessment can't be has to be left to the lesser of thirty thousand or fifteen percent of your home's value so you know two hundred thousand dollars house fifteen percent of that is thirty thousand but if you're homeless worth less than that you would only qualify for up to fifteen percent of your home's value and the whose values defined as either the grandest value that the town has or conforming less than six months old appraisal if one exists on the property you know there are another one of the requirements in these financial requirements were issued by the department of financial regulation which is the state's regulator in terms of banking used to be called again it's thank you so in addition to that you cannot succeed ninety percent loan to value which would include so all of your mortgages home equity loans and that assessment the sum of those cannot exceed ninety percent of your home's value so there's a combined long the value could get lucian so there is some equity that's required which is you know again an important thing to think about in terms of who's qualifying someone has to help us and i could be just to qualify and another eligibility requirement is that there's a debt to income ratio of forty one percent or less and that's calculators by yes that's calculated by the banking partner that efficiency or my own work with help qualify customers one thing that's different about pace than your conventional loan application requirements is that in that debt to income compilation the savings that person would realize from their project which is calculated by the by efficiency vermont as mandated through legislation that saving so basically if your assessment payment is eight hundred dollars a year but your project will save you twelve hundred of the four hundred counts in your favor to amend it if you have a negative the credit report is pulled the creditor i don't know if the credit that i know it could score isn't listed in the department of venture regulations criteria but the debt on the debt to income is verified  credit reports so the purport is told by the bank that day is the debt that's used to calculate the debt to income so we know could have been funded and still could you know yes for bonds or other winos a full monies but the sort of the way it came towards efficiency vermont was in the towns really were saying this really isn't something we can do we believe in what you're secured by your home and the relationship between your home in your town is existing and has existed and will exist forever the pace assessment transfers with the property after you move out of your it stays with the property and so the relationship is really between the town and the property and not between the bank or efficiency or mine or any other british remark it's using a financial bt or bank to finance its projects why isn't that were not we're not doing this program on our own this is just not the way the law was passed the law was passed talent enabling legislation and we are the agent of the towns available to serve them it's just it's not that it's just not the way it was  and put into the story behind pace and early on in the process the number of folks for whatever reason they did their programs didn't have the ability to handle this situation and that in order to do it would be a fairly expensive upgrade to the software one which neither the state nor any other talents are certainly willing to do at that time so that coupled with concerns by the towns that we don't want this on the tax bill sort of lead us into this other way of thinking where efficiency vermont would manage the billing process now it's still up to the talent to decide for instance of  help decides to name or pays and decides we want to stuff this into our tax bill we want it in the same you know bill we could we could work it out that way were you know that the bill for peace is going to look a lot like a t know this is the town of underhill i don't have the coupons i don't know how many times a year you pay the taxes in this town but you know maybe two or three people mail it in on the same schedule as their taxes are due so that reminder is really important because as you say it's tied to the home and it's really related to the to the taxes so if in the event that you decided we really want to reinforce this and send it with our tax bill we can do that most towns have said just send it send it on the same at the same time programs like that and then help people secure loans and in the private sector we do have programs where people can if you know make energy efficiency improvements to their homes and we offer incentives to do that  in your project is done we don't currently have any financing programs that we have in the past have interest rate by downs and other things like that currently there aren't any other programs for residential to get something like this going to your house it's already preexisting so why create this i think seemingly complicated program it is complicated and i guess i would have an answer if you first by saying that  there is there's generally a need for ways to pay for energy improvements and across the board having a number of options and sort of always a good way to go in many cases if somebody can qualify for a home can easily refinance that is very often the best way to go and you probably encourage people to to go that way in fact on the web say we'll have we do have i think it's already up basically a decision tree which asks you a few questions like do you have a is there are some folks for instance who don't like the idea of taking on all the liability of an improvement to their home in the magnitude of maybe eight or ten thousand dollars say they don't know if they're going to be there in five years  their house cold of winter long if you do a home equity loan you're responsible for the the loan and if you sell the house you have to pay it off with pace you can take out a pace assessment you can live in your home for five years pay the pace enjoy the benefit of the savings and then if you walk away and sell the house you transfer the assessment to the new owner or it can be paid in full at any time so if that's negotiated tend to sell that's fine but in essence you're basically paying for the savings as you're enjoying them and if there comes a time when that house is no longer for you or for whatever reason you're selling it that gets transferred so the transfer ability is really the the biggest distinguish thing factor between pace and a lot of other loans also the fact that energy savings is counted towards income and so if you're marginally qualifiable for a conventional loan this could help you in some regards that i and they'll be higher than those we higher than the standard thirty year mortgage for sure and likely a bit higher than a home equity loan what we've sort of heard all the way we don't have an interest rate is that you know life time of twenty years then you go to twenty years if you're installing something that's only fifty has a fifteen year life cycle you can only finance for that long but typically with home retrofit projects the life of insulation you know the life of air sealing it's beyond twenty years so that's a big issue in the same is true of most renewables although i'm not sure about somehow i don't know maybe a little bit less than one of the questions that i  town there are fees associated with a program to the homeowners or there's an application fee there's going to be a new model administrative fee and those are the fees that will cover the banking review the billing  meeting solely with banks we haven't met with any banks outside of so local banking partners are the people we've meeting with but the actual sign on the dotted line is still in the works you know we had a meeting today which i have to admit was very positive  and i feel for the first time now that the credit facility actually started to take some sort of shape there was a little bit of leadership being shown by a couple of things and so you know we were hoping really to have a subscription period to offer to our accounts this fall that's been moved out to january assuming this paperwork comes together that still if it lingers for six weeks it's probably going to be february i really was wanting an exit and we told the banks this today we really want to be offering something before a town meeting day because a lot of the new towns that are running want to kind of see what's going on that would be ideal that's what we're trying to get up we have thirty four towns that have voted in pay sites that i think i said twenty to twenty four of them have you know adopted programs submitted paperwork or actively mark you know providing them with marketing materials and that's very clean we have web tools that are available to people to read about pacing to anybody who doesn't have to be n i did want to just respond a little bit there is a few questions about the town obligations and legal kind of legal obligations and i wanted to respond to them by telling you first i'm not an attorney so i'm not going to respond to that but there have been some responses back when peace legislation was passed efficiency vermont received a grant to help do some of the legwork in terms of legal and other resources and so we hired a firm in for a light in the end she had to do some research on pace and start answering some of these questions for towns and they worked with the l c t in fact to help draft the ballot language and things like that that have towns  directed to towns that have passed the pace of those are some of the two different places we're pushing information to i brought print outs of the legal questions as they are on the wiki now and i think that they're somewhat helpful for you and if you have that that could definitely have been hopefully all the fees that are levied will help to cover some of that certainly if they don't that's something we'll have to look at and see if the program can be tweaked to happens a lot you got to really rethink things yeah if it doesn't then you know but certainly there's no recourse the town in terms of financial liabilities so the town never has to pay off my assessment if i skip town the loan loss reserves will do that not paying if they're not paying for six months that's not likely coming to you as a delinquency there's going to be a point at which underhill says we collect taxes delinquent lax and when they're nearly there over a thousand dollars or whatever the procedure is for this town those procedures are going to be in a database somewhere and when somebody reaches that point we were going to notify the town that someone's late will be plenty enough but after a year and a thousand dollars bill saying we're turning it over to you it's now officially delinquent until then they'll get notices through efficiency or months program today my biggest concern is is the idea that someone else  house and take the money and they might not be as credit were the first if you took the original that's just seems like that i don't know what the protections are on that because can you deny someone the purchase of  lower rate there was no equity left in there to also change the whole scenario to the point yeah yeah those are good questions to know that the the assessment certainly would come up in the title search that may  may not affect the approval process so that's something to consider certainly the proper a transfer is one of the trickiest part of the program to plan for and we'll be working with counselors to figure that out   you know we've we've met with banks in vermont all of whom are mortgage lenders none of them seemed reasonably afraid of this structure at all i think they've seen it you know mechanics the country and although there's not a lot of information in boulder county did a fair number of pace assessments and found that a third of them got paid in full within somewhere between two and five years yet so  are saving a thousand dollars a year on your expenses you know that makes a big difference in the forty one percent debt ratio so that's something you certainly can't do with any other wall street would be s are doing that you know like a lot of cases and will continue to do them and folks who can't afford it folks who fall below sort of a certain income level get some assistance but there's a very large group of unfunded on the town administration there's just no way to get away from that no maybe it's really small unit if it's just share or more that's an important issue right there  are actually have a little light here no need to refer to say no but there certainly are some things up from the town house to do the work we're doing right now the work you do to hold a vote the paperwork that you will do to adopt a program  recorded so there so that's what that would be the same then lien so yeah there's definitely work on the town's part to set up and of course when things are delinquent there is some work there as well but we've done as much as we can to try to make it as light a load as you can imagine for the towns assuming things are going swimmingly and smoothly and sort of the way we expect  and when things get bumpy will iron it out and some have to jump at some point believe that we've tried to identify most of the bumps that will hit some i'm sure have done really well over cross the road so be nice to know where those trees came from and i've got an appointment with the county force through it why did the trees die in the first place and are we at risk of do you want to make any conditions on the size of a sign that well it would  of stuff on substance abuse and helping substance abuse and pace i think i think most today i wanted to do most of it was that i would really interested in