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Monona committee approves two Renew Monona loan requests for rooftop solar and home rehab
Summary
The Finance and Personnel Committee approved two Renew Monona loan requests: a 50% loan for a rooftop solar installation at 507 Frostwoods Road and a $50,000 loan for a basement remodel at 4806 Reagan Terrace. Staff said both applications meet program criteria and funding is available for 2025.
The City of Monona Finance and Personnel Committee on May 2025 approved two Renew Monona loan requests: a 50% loan request for a 24-panel rooftop solar array at 507 Frostwoods Road submitted by Daniel and Molly Groupi, and a $50,000 loan request for a major home rehabilitation at 4806 Reagan Terrace from Jeff and Jocelyn Donaldson.
City staff member Doug presented both applications to the committee, saying the Groupi solar project’s total cost is “just over 28 and a half thousand dollars” and that the applicants are seeking 50% of that amount. Doug also noted the project is eligible for tax credits “approximately 1/3 of project costs” and that the application is being presented based on pre-tax-credit amounts. For the Donaldson project, Doug said the total project cost is $111,719 and the request is “right on $50,000,” and that the scope includes a new bedroom, bathroom, office, workout space and related mechanical work.
Doug told the committee both applications meet Renew Monona program criteria and are within the program’s 2025 funding availability. He further noted the committee is reviewing applications using 2024 property assessment numbers because 2024 assessments are still subject to board of review adjustments. He also said projects at or below $50,000 do not require Community Development Authority (CDA) review and are handled at the finance level.
Alder DePula asked whether prior awards had factored tax credits into award calculations; Doug replied that tax credits have been similar in recent cases (about one-third of costs) and that, in a recent earlier award, the loan was presented as 50% of the full pre-tax-credit amount. The committee then moved, seconded and approved both loan requests by voice vote; the record shows the motions carried.
Doug told the committee staff expects proposed program revisions to come back for review soon, but that the current applications were evaluated under the existing program framework. The applicants were present for the meeting.
The committee’s approvals allow staff to proceed with processing the loan documents under the Renew Monona loan program and the applicants’ financing arrangements. No specific disbursement dates were stated during the meeting.
