Financial instruments to incentivize property retrofitting

Summary

We're also exploring the use of innovative financial instruments to incentivize property owners to retrofit their homes to be more resilient to storms. Low-interest capital and a potential reduction in insurance premiums will allow New Orleanians to invest in improvements such as elevation, floodproofing, storm shutters, and stormwater management features. And the voluntary Property-Assessed Clean Energy (PACE) program will property owners to make energy efficiency improvements at little or no upfront cost, with loans repaid through property tax bills for up to 20 years.