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Innovative Financing Options for Contractors -
Innovative Financing Options for Contractors -
Innovative Financing Options for Contractors -
Innovative Financing Options for Contractors -
Innovative Financing Options for Contractors -
Innovative Financing Options for Contractors -
Innovative Financing Options for Contractors -
Innovative Financing Options for Contractors -
Innovative Financing Options for Contractors -
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Innovative Financing Options for Contractors -

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  • 1. COMMUNITY REVOLVING LOAN FUNDBrendan ReedEnvironmental Resource Manager
  • 2. BackgroundHome Upgrade, CarbonDowngrade Program• Community energy efficiency retrofits• Streamlined contracting & financing• High levels of consumer protection• Invested in local retail purchases• Linked to local green job training &creation
  • 3. Revolving Loan Fund • 0% interest loans to property-owners for energy-saving retrofits • Loan amounts Minimum = $2,500 Maximum = $20,000 • Loan term Maximum = 10 years • Repayments partially offset by resulting energy cost savings • Deed of Trust placed on participating property
  • 4. Revolving Loan FundParticipant Eligibility• Property in Chula Vista• Current on mortgage & taxes (nobankruptcy)• Loan amounts < 10% of property value• Lien to value ratio < 100%• Contractors selected from EligibleContractor List• No other current City loan
  • 5. Revolving Loan FundEligible Retrofits REBATES HISTORICAL ENERGY IMPROVEMENT SPECIFICATIONS AVAILABLE? REVIEW? Attic Insulation R-30 rating or greater Yes Exempt Central Air Conditioning/Heat Pump SEER 14 or greater Yes Exempt Central Furnace (Natural Gas) 92% AFUE rating or greater Yes Exempt Flat Roof: 75% Reflectivity & Emissivity or greater Yes Cool Roof ------- Steep Roof: 40% Reflectivity & 75% Emissivity or greater (if 45 years old) Programmable Thermostat ENERGY STAR-qualified model ------- Exempt SRCC OG-300 certified (single-family) Yes Solar Hot Water Yes SRCC OG-100 certified (multi-family & commercial) (if 45 years old) Yes Solar Photovoltaic (PV) System size can not exceed on-site energy demand Yes (if 45 years old) Tankless, On-Demand Water Heater 0.90 EF rating or greater ------- Exempt Variable Speed Pool Pump & Motor Automatic control system required for most models Yes Exempt Wall Insulation R-13 rating or greater Yes Exempt Water Heater (Electric) 0.93 EF rating or greater (>30-gallon capacity) Yes Exempt Water Heater (Natural Gas) 0.62 EF rating or greater (>30-gallon capacity) Yes Exempt Whole House Fan Must have existing central A/C system Yes Exempt Yes Windows 0.40 U value & Solar Heat Gain Coefficient (SHGC) or less ------- (if 45 years old) Yes Other Energy-Efficiency Measures Reviewed on a case-by-case basis ------- (if 45 years old)
  • 6. Revolving Loan FundApplication Process STEP 1 STEP 2 STEP 3 STEP 4 APPLICATION REVIEW RETROFITS LOAN SERVICING • Property owner • RLF staff reviews • Applicant signs • A 3rd-Party will submits an application & makes Contractor provide monthly application approvals based on Acknowledgement bills, annual • Includes (3) bids energy savings for preferred statements, payoff from eligible thresholds and contractor demands, & contractors for payback period • Applicant works require annual selected retrofits • Applicant signs & with contractor to insurance from notarizes Promissory complete retrofits loan recipients Note & Deed of • Applicant signs off Trust on Request for • Applicant sent a Payment once work Notice to Proceed is completed by City (Contractors are paid directly from the City for commercial property retrofits) • RLF staff calls to schedule a final inspection
  • 7. Revolving Loan FundEligible Contractor List• All financed energy-saving retrofitsmust be installed by contractors on list• Helps to ensure: High levels of consumer protection Actual energy savings Compliance with federal regulations• Contractor requirements areestablished in MOU
  • 8. Revolving Loan FundContractor MOU Components• Federal Reporting – Possess a DUNS # & registered in CCR• Labor – Contractors performing commercial retrofits must comply with prevailing wage (DB Act)• Liability & Insurance – Minimum liability ($1 mil) & indemnify City• Licensing – CA contractor & City business licenses• Payment – Paid to homeowner or contactor• Permits – Obtain applicable permits prior to work• Pricing – Net pricing for property-owner (gross costs minus rebates/incentives)
  • 9. Revolving Loan FundContractor MOU Components• Rebates/Incentives – Contractor assistance completing all necessary rebate/incentive applications & use to recoupupfront costs• Special Trainings – Must meet industry & rebate/incentive training standards (Energy Upgrade CA, CA Solar Initiative, Electrical Safety Specs)• Warranty – Must provide warranty based on industry standards and for at least the duration of the loan term

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