The Catalyst Loan provides construction and term financing to help owners improve the energy performance, health & safety, resilience, and economics of multifamily and nonprofit-owned buildings. Catalyst is also designed to help owners decarbonize their buildings and meet any local building energy requirements. It provides alternatively secured financing that can easily be used in combination with existing mortgages or other funding that may put restrictions on adding new debt to a property.
Catalyst can be used for the following eligible costs:
- Energy efficiency and renewable energy improvements
- Resiliency measures
- Health and safety remediation
- Building energy performance monitoring and verification
Loans are repaid from energy and operating cost savings.
Who is eligible?
- Residential properties with 5 or more units and nonprofit-owned buildings
- These include apartments, condominiums, coops, and supportive housing
- Properties can serve market-rate and low- and moderate-income residents.
Examples of Eligible Improvements
> Renewable energy systems (solar PV, etc.)
> Efficient space heating and cooling systems and hot water systems
> Building envelope improvements including weatherization and insulation
> Energy storage solutions
> Conversion from oil to electric or gas
> On-site electric vehicle charging stations
> Remediation of mold, asbestos, or radon necessary for weatherization
> Replacement of outdated electrical wiring or leaky roofs
> Work necessary to achieve certification of high-performance building standards
> Takeout of pre-development funds expended to plan energy project (IPC’s Navigator Loan)
Financing Terms
Type: Affordable multifamily or non-profits, unsecured
Rates:
7 Year – 5.79%
10 Year – 5.99%
15 Year – 6.49%
20 Year – 6.99%
Loan term: Up to 20 years
Origination fee: 3.00% upfront (may be rolled into loan)
Application and Documents
> Application documentation checklist
For more information contact us.
