| Program Name: | Predevelopment Lending Program |
| Program Sponsor: | NYSERDA |
| Program Type: | Financing |
| Technology: | Alternative Energy Generation/ Renewables |
| Fuel: | N/a |
| Eligibility: | Multifamily Properties and Small Commercial Properties |
| Cost: | None |
Description
The Predevelopment Lending Program makes energy efficiency improvement more affordable for small commercial buildings and multifamily properties by lowering the upfront cost to over assessments. Lending is available for new construction or retrofitting existing properties to decrease energy cost, increase resilience, and enhance tenant health and comfort.
Eligibility
The program applies to owners and managers of affordable multifamily properties that are either regulated or unregulated, as well as commercial building owners with properties less than 25,00 sq. ft. NYSERDA encourages disadvantaged community property owners to apply to this program, to provide clean energy solution access equitably.
How the Program Works
This program offers low and no-interest loans to cover Integrated Physical Needs Assessment (IPNA) costs. NYSERDA will also provide five hours of free technical assistance that can be used as needed by the application for engineering, legal, or financial consultations.
Loans up to $500,000 (but not to exceed 25% of the total project cost) with 0% interest and no fees can be attained for up to 30 months. The first 18 months require no payments, and the outstanding balance shall be repaid over the next 12 months.
How to Apply
Contact greenloans@nyceec.com to inquire about applying to the program.
Contact Information
For questions about applications and participation:
greenloans@nyceec.com
For additional information and resources:
financingsolutioninfo@nyserda.ny.gov