(2) Any remaining proceeds collected from large existing building applicants and all proceeds paid into the renewable energy fund by new construction applicants shall be available to provide financial assistance to help low-income Burlington residents with funding initiatives that reduce greenhouse gas emissions, including, but not limited to, the installation of renewable energy thermal energy systems, weatherization projects, or subsidizing utility costs associated with purchasing renewable energy rather than fossil fuel. This funding may be delivered either through direct payments to homeowners and renters who are income-qualified per the most recent income-qualification levels published by the community and economic development office ("CEDO"), or through payments to property owners of multifamily buildings where at least twenty-five (25) percent of the tenants in the building are income-qualified; provided, that the property owner must commit to not raising the rent of income-qualified tenants as a result of costs associated with the funded initiatives to reduce greenhouse gas emissions.
(Ord. of 6-28-21(1); Ord. of 11-20-23)