Alternative Fuel Vehicle Loan Program

Summary

The Division of Energy of the Missouri Department of Natural Resources has developed an administrative plan for implementing a loan program that provides financial assistance to political subdivisions for establishing the use of alternative fuels in their vehicle fleets. Loans are available for the purchase of new alternative fuel vehicles (AFVs), conversion of gasoline motor vehicles to run on alternative fuels, or construction of refueling stations for AFVs. Maximum loan amounts are as follows: $2,000 for the incremental cost of purchasing a new AFV; $2,000 for the conversion of a new or existing vehicle to operate on an alternative fuel, and $100,000 for the construction of a refueling station capable of dispensing an alternative fuel. Funding for this program has been appropriated, but guidelines are not in place. The program will take effect in 2003. Cindy Carrol (see 3/27/ email)l: 1. "Any alternative fuel as defined federally would qualify - of the ethanol only E-85 would qualify. " 2. Interest rate, maximum term to be determined. 3. Maximum amount per political subdivision has not yet been determined.