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CITY opLAKEWOOD cumA IcACTION pIL Am <br /> Nil <br /> 1ns'1y,-mhts| `��� ��� <br /> Investing inclimate actions requires the participation ofall levels ofgovernment and all sectors <br /> of our society.Although the City of Lakewood is the owner of this plan, it cannot accomplish its <br /> climate action goals on its own.This is a roadmap for the community of Lakewood,and it requires <br /> assistance and involvement from everyone in Lakewood,as well as from outside Lakewood itself. <br /> 1. Climate action is a good investment. <br /> From aneconomic perspective, climate action isano-regret policy for the <br /> City ofLakewood,with many opportunities for new and existing businesses <br /> and the creation ofnewiobs. Implementation ofthe actions inthe Climate <br /> Action Plan results insavings of$2billion from reduced energy costs and <br /> avoided maintenance costs and $170 million in revenues.The implementation <br /> 6 of the plan requires a societal investment of$1.5 billion over 27 years(from <br /> 2U23to2U5U' undiscounted\'averaging –$55million per year.These <br /> investments also generate savings that continue beyond 2U5Uthat are not <br /> included inthese results. The net benefit tothe community ia$72Omillion <br /> over 27yealclimate dividend' that averages$27million per year. <br /> 2. Households save money. <br /> Household expenditures on energy—natural gas,electricity,gasoline,and <br /> diesel—will decline aathe plan is implemented. The plan involves shifting <br /> away from natural gas and gasoline to electricity, using high-efficiency space <br /> heating and cooling with heat pumps, and improving the thermal efficiency <br /> ofhomes. By2U5U,the average household isexpected tospend 24%less on <br /> fuel and electricity than they would if business continued as planned.These <br /> savings can beused tofinance the incremental capital expenditures. For <br /> example, aheat pump can befinanced bvreduced heating costs and EVacan <br /> befinanced bvreduced transportation costs. <br /> 3. The Climate Action Plan will improve the quality of life in Lakewood. <br /> The plan will generate abroad range ofsocietal benefits with direct and <br /> indirect financial benefits, advancing multiple city and societal objectives <br /> while achieving deep GHG reductions. For example, electrifying <br /> transportation improves air quality,thereby delivering health benefits <br /> and reducing health care costs.Similarly, improving walking and cycling <br /> infrastructure will make iteasier for residents toget around without vehicles <br /> and encourage exercise,which can reduce heart disease.Youth and older <br /> adults, in particular, indicated inthe 2U22Community Health Needs <br /> Assessment that they did not feel secure walking orcycling.z <br /> �Acnmate dividend/othe ooaoc/aIbenefit that comes along with decarbonizing the city. <br /> ^The Center for Community Solutions(2022).Lakewood Community xea/mNeeds Assess men t.Retrieved from* <br /> »t4o://===zomm"ouyso/"uoos.mm/°p-cooteoV"p/oaus/2mzz/oy/Lake°mou-Cxw^.nepoay.zozzpu/ <br />