PHX Reporter

The Maricopa County Industrial Development Authority (MCIDA) has invested $500,000 in Sustainable Home Improvement Loans of Arizona (SHILA), marking a notable step in supporting sustainable home improvements for low- and moderate-income homeowners. SHILA is recognized as the state's first nonprofit Green Bank.

"Maricopa County is committed to fostering economic growth and supporting sustainable communities for all residents," stated Maricopa County Supervisor Clint Hickman, District 4. He added that the investment in SHILA aims to provide homeowners with affordable financing options for energy-efficient upgrades, which are expected to lower utility bills and enhance living conditions. "This partnership not only strengthens our local economy but also contributes to a more resilient and sustainable future for Maricopa County."

The financial support from MCIDA will enable SHILA to assist over 425 residents within the county with projects valued at $5 million over three years. The average project cost is anticipated to be around $12,000, focusing on enhancements such as insulation, roofing, doors, windows, electrical systems, and HVAC units.

"We are honored to receive this foundational investment from the Maricopa County Industrial Development Authority," expressed Ty Lorts, CEO of SHILA. He emphasized that this funding would make home improvement financing accessible to families who need it most, transforming homes across Maricopa County.

The MCIDA's decision aligns with its broader objectives of promoting sustainable community development and improving housing affordability through economic investments.

For further information or media inquiries regarding this initiative, contact Ty Lorts at tlorts@shilaaz.org.