Sherpa Pre-Development Loan

General Information and Structure

Lender:

Connecticut Green Bank

Lending Type:

Green Bank

Jurisdiction:

The Sherpa Pre-Development Energy Loan offers an affordable, low-risk, one-stop solution to analyze, design and arrange financing for green energy upgrades. Connecticut Green Bank has partnered with New Ecology Inc., an expert multifamily technical services provider and nationally-recognized non-profit, to act as an owner's representative to help scope, design and arrange financing for energy improvement projects. Program benefits: Identify practical, cost-effective ways to save money on utilities, reduce maintenance costs and make your building(s) more attractive to tenants; De-risk the process of identifying energy upgrades by having an experienced team lead the way; and Identify and secure utility incentives and project financing to implement your project. In addition to New Ecology Inc., Connecticut Green Bank offers the Sherpa Pre-Development Energy Loan in partnership with the MacArthur Foundation and the Housing Development Fund.

Active or Closed Program?:

Active

Eligibility Criteria:

Any affordable or market rate multifamily properties with 5+ units are eligible to participate. Qualifications of best candidates are: Existing buildings (or multiple buildings) with at least 20 units and buildings with owner-paid electric, central heating and hot water.

Type of Financing:

Acquisition/Predevelopment

Type of Improvements Covered:

Benchmarking and Opportunity Assessment to assess your property's potential; Energy Audit to identify improvements, and estimate costs and savings; Design and Funding Technical Assistance to get the project designed, funded and ready for implementation.

General Information and Structure

Financing Details

Additional Information