Long Beach Rolls Out New Funding For Clean Trucks

May 19, 2009

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The Port of Long Beach has announced a new round of funding for subsidized leases and loans for new liquefied natural gas or diesel-fueled trucks and retrofit devices that reduce soot and oxides of nitrogen emissions.

The funding is a continuation of the Port's $42.5 million Clean Truck Financing Program, designed to help truck owners meet the requirements of the Clean Trucks Program. The program was created to reduce air pollution from harbor trucks by more than 80 percent by 2012.

Truck owners may apply for funding three different ways. Owners can go with a subsidized lease-to-own option, in which the applicant can receive funding for a pre-approved new truck under a seven-year lease agreement that is subsidized by the Port up to 80 percent.

Under a second option, applicants can apply for a subsidized loan and receive funding for a pre-approved new truck. Owners would secure their own financing based on their credit and receive a grant of $67,000 for a clean diesel truck or $105,000 for an LNG truck, which is paid out over seven years. Lastly, candidates can apply for a retrofit grant, a one-time grant of $20,000 toward the purchase of retrofit equipment for trucks with 1994 through 2003 model year engines. The retrofit must be California Air Resources Board approved.

In early July, the Port will conduct a random drawing and award applicants in three areas: Sterling LNG trucks, other U.S. EPA approved LNG and diesel trucks and retrofit devices. Applications are due to the Clean Truck Center by June 5, 2009.

More info: click here or call 888-KLN-TRUX (888-556-8789).

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