Overview
The City of Plano's The Great Update Rebate program is designed to provide incentives, in the form of rebates, to homeowners of older properties to update and maintain their homes. The program alleviates some of the financial burden of updating older homes and incentivizes upgrades with the potential to increase energy and water efficiency. The program is not an energy conservation program; however, energy-efficient home improvements may qualify.
Location
Plano, Texas
Year Implemented
2014
Program Details
Implementation Process
- Input from professionals in the construction, real estate, and inspection industries.
- Maximum property value, minimum property age, and specific interior and exterior improvements/repairs were identified.
- Both owner-owned and investment properties qualify for the program.
Motivation for Implementing Program
With very little land available for new construction, the Plano City Council decided it was best to help current homeowners maintain their older properties, thus maintaining thriving neighborhoods.
Funding
- City-funded - $1.5 million allocated for rebates.
- Currently $1.1 million encumbered in rebates.
- Plano homeowners have invested $6.9 million into homes.
Short and Long-Term Benefits
- Program is quick and easy - rebates are paid within weeks of project completion.
- Homeowner pride in their property, in their neighborhood, and their city.
- Rebates used to continue repairs/upgrades/maintenance to their homes.
Lessons Learned
Homeowners have reported satisfaction with the quick and easy nature of the process and continue to utilize the rebate program to update their homes.
Participation
- Approximately 260 homeowners in the last two years.
- Recently a large increase in applications.