The Resource Management Commission voted to approve an expansion of contract authority for Austin Energy’s Better Building energy-efficiency lending program, allowing the utility to continue offering very low- and no-interest loans through Velocity Credit Union.

Richard Genesee, vice president of customer energy solutions at Austin Energy, told the commission the action is “just an extension of the contract authority,” and clarified that the program’s annual budgeted funding is $600,000 — not the larger cumulative contract amount shown in the request for council action (RCA).

The commission took the motion to approve after questions from members about whether the $600,000 annual budget was being approved as part of the item. Genesee repeated that the $600,000 is a separate budget submission and that the commission’s vote concerned extending the contract authority only.

Commissioner Silverstein moved to approve the extension; Vice Chair Robbins seconded. The chair called for a show-of-hands vote; the item passed on an 8-0-1 tally.

The vote authorizes Austin Energy to continue work with Velocity Credit Union on lending for home energy savings, weatherization, AC rebates and a small-business bundle under the existing program structure and extended contract authority. Genesee said the loan terms extend up to 120 months and that loan activity has been “really good.”

The commission did not alter the annual budgeted funding; staff said any annual budget adjustments are handled through the city’s budget process.