General Information and Structure
Lender:
Inclusive Prosperity Capital
Lending Type:
Non-profit lender
Jurisdiction:
National
The Navigator Pre-Development Line of Credit is a simple, unsecured pre-development facility that funds customized analysis and design of energy improvements for multifamily properties using owner-selected and managed technical service providers. Design of health and safety, resiliency and other improvements can also be covered. Inclusive Prosperity Capital is the spin-out of the Connecticut Green Bank, bringing its successful programs to new markets. Program benefits: (1) Supports well-designed energy projects that save on utility bills and enhance your building’s attractiveness to tenants, (2) Property owners select and manage their own service professional(s), (3) Owners cover 25% of pre-development costs; Connecticut Green Bank loans 75% of costs.
Active or Closed Program?:
Active
Years Offered:
2018 - Present
Eligibility Criteria:
Multifamily properties (5+ units, income eligible and market rate). Private and non-profit owners, public housing authorities, senior/assisted living communities, condominium/co-op associations, etc.
Type of Financing:
Acquisition/Predevelopment
Type of Improvements Covered:
Energy benchmarking, opportunity assessments, audits; Green charrettes and physical needs assessments; Energy-related health and safety assessments; Design, engineering and bidding work; Costs to secure energy upgrade project financing; Other reasonable expenses needed to get your energy project designed and funded.
