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COMMUNITY REVOLVING
             LOAN FUND




Brendan Reed
Environmental Resource Manager
Background

Home Upgrade, Carbon
Downgrade 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
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
Revolving Loan Fund

Participant Eligibility
• Property in Chula Vista
• Current on mortgage & taxes (no
bankruptcy)
• Loan amounts < 10% of property value
• Lien to value ratio < 100%
• Contractors selected from Eligible
Contractor List
• No other current City loan
Revolving Loan Fund
Eligible 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)
Revolving Loan Fund
Application 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
Revolving Loan Fund

Eligible Contractor List
• All financed energy-saving retrofits
must be installed by contractors on list
• Helps to ensure:
       High levels of consumer protection
       Actual energy savings
       Compliance with federal regulations
• Contractor requirements are
established in MOU
Revolving Loan Fund
Contractor 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)
Revolving Loan Fund
Contractor MOU Components
• Rebates/Incentives – Contractor assistance completing all
        necessary rebate/incentive applications & use to recoup
upfront 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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Innovative Financing Options for Contractors -

  • 1. COMMUNITY REVOLVING LOAN FUND Brendan Reed Environmental Resource Manager
  • 2. Background Home Upgrade, Carbon Downgrade 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 Fund Participant Eligibility • Property in Chula Vista • Current on mortgage & taxes (no bankruptcy) • Loan amounts < 10% of property value • Lien to value ratio < 100% • Contractors selected from Eligible Contractor List • No other current City loan
  • 5. Revolving Loan Fund Eligible 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 Fund Application 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 Fund Eligible Contractor List • All financed energy-saving retrofits must be installed by contractors on list • Helps to ensure: High levels of consumer protection Actual energy savings Compliance with federal regulations • Contractor requirements are established in MOU
  • 8. Revolving Loan Fund Contractor 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 Fund Contractor MOU Components • Rebates/Incentives – Contractor assistance completing all necessary rebate/incentive applications & use to recoup upfront 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