The Warm Up Palmy scheme has helped insulate 250 homes in Palmerston North since starting last year.
The scheme allowed ratepayers who could not find enough money to top up an Energy Efficiency and Conservation Authority (EECA) subsidy to pay for insulation.
The scheme allowed homeowners to borrow up to $2600 from Palmerston North City Council.
The loans, plus interest, are to be repaid over nine years through a voluntary targeted rate.
Mayor Jono Naylor said the scheme was a great success.
"It's nice to know that the council has been able to help 250 families make their homes much warmer this winter," he said.
Sustainability co-ordinator Pat Cronin said the council allocated $500,000 toward the programme, with EECA providing $260,000 in subsidies.
"Approximately one third of those who took advantage of the scheme will make their first voluntary payment during 2013/14 and the remainder will begin making rates payments from July 2014," she said.
Warm Up Palmy participants who have not paid off the full amount of their loan and intend to sell their home can pay it off in full upon sale, or the balance can be transferred to the new owners.
- © Fairfax NZ News
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