General Information and Structure
Lender:
Community Investment Corporation
Lending Type:
CDFI
Jurisdiction:
Chicago and suburbs, IL
A one-stop energy efficiency shop for multifamily building owners, Energy Savers is a partnership between CIC and Elevate Energy that connects technical expertise with creative financing for energy and water retrofits. The program offers energy assessments at no cost to owner, resource coordination, construction management and post retrofit analysis. Borrowers can bundle energy conservation expenses into an overall acquisition or rehab/construction loan. Financing available up to 90 percent loan-to-value with 1.15 debt service coverage ratio.
Active or Closed Program?:
Active
Years Offered:
2008 - Present
Eligibility Criteria:
Naturally occurring affordable and market-rate rental housing, mixed use buildings, 5+ residential units
Type of Financing:
Mini-Permanent/Permanent
Loan Size Range:
Not specified
Type of Improvements Covered:
Energy efficiency, Water efficiency, Renewable energy
