Where:
Fairbanks, Alaska

Problem:
Community resources agency needed funding to replace two boilers

Solution:
RCAC’s loan fund provided financing

During severe winter weather conditions, the Fairbanks Resource Agency (FRA) needed to replace its two boilers, which provided heat for the agency; one was cracked and the other was not functioning at all. FRA is a community-based nonprofit organization in Alaska that provides essential supportive services, housing, referrals, employment and information to individuals with disabilities and their family or caregiver. The organization’s goal is to assist individuals to achieve their highest potential where they live, learn and work.

RCAC provided a $100,000 loan to purchase and install two new high efficiency boilers. The new boilers provide heat—and the organization saved enough in energy costs to repay the loan in just four years. Once the loan is repaid, this cost savings will help to buffer the organization from an economic environment of high costs and increased competition for resources.

FRA is the first nonprofit organization to apply for an RCAC loan through the Fairbanks Nonprofit Retrofit Pilot Program. The Rasmuson Foundation funded RCAC to provide financing and to collaborate with the Cold Climate Housing Research Center, which is helping to identify potential borrowers.