MOSCOW - Green Acres was the place to be Tuesday, at least if you were in Moscow and you are interested in housing that is reasonably priced and environmentally friendly.

Earth Day 2008 was a day for showing off the result of a unique partnership between developers, the Idaho Housing and Finance Association and the community of Moscow.

Green Acres is a 48-home development that allows first-time homeowners and others buy a new, earth-friendly home, with a little help from something called a Home Equity Partnership Fund.

"If, for instance, a young working family could only afford a mortgage on $150,000 and the home sold for $200,000, then $50,000 would be loaned to those recipients at no interest with no payments, due-on-sale clause, so that their mortgage would be based then on $150,000 or whatever figure they could afford to make the mortgage payment at," said developer Rick Beebe.

Beebe says a $1.3 million dollar fund to help pay for the financing in Latah County was started by himself and his partner, along with other local businesses. And he says they took the "green" path because it's the way to go.

"There's very little or no reason not to build green anymore because of the energy savings, particularly on a day like today, with it being Earth Day," said Beebe. "We can build homes that are built green, which saves a tremendous amount of energy, but for more cost, but not a tremendous amount more cost. We return a dividend on that investment really rather rapidly. Within a two-year period of time we get that investment back."

Beebe's son Rich showed off some of the green aspects of these new homes during tours. The homes are 30 percent more energy efficient than is required by code. With state of the art insulation and heating systems, recycled materials, landscaping that requires very little water and other conservation features, these homes are a model for the future.

New residents Courtni and Ryan Weaver like everything about their new home, which is priced at around $199,000, but will actually cost them less than that up front with the help of money from the equity fund.

"You can see the insulation that they use and how they do everything,' said Courtni Weaver. "It's been such a great process and it's so nice to see it all come to an end. This is our product, and at the end of the day, it's ours."

For her husband Ryan, who is a Latah County Sheriff's deputy and the son of Moscow Police Chief Dan Weaver, the added financial help has made getting his young family started that much easier.

"With the new program it helps you," he said. "It basically creates a down payment for you. You don't have to wait in a place that you don't want to be in for a couple years waiting and saving and really crunching and making a lot of sacrifices in order just to come up with the down payment on a used, older home."

All the homes' located on Bristol Road, are expected to be completed by early next year.

Community contributors to the fund include: Rick Beebe, Larry Germer, Ashbay Construction, Aspen Enterprises, Bill Long Sheetrock, Carpet Mill, Cozy Insulation, Eisinger Construction, F&L Landscape, David Germer, Goodson Plumbing, Howard Hughes Appliance and Sleep Shop, JJ Building Supply, Latah Tile Co., Moscow Building Supply, and TKL Electric.