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Energy Efficiency Showcase. February 8, 2012 | DePaul Center. This event was made possible by. Affordable Rental Housing and the Opportunity for Energy Retrofits for Multifamily Buildings in Cook County. Geoff Smith Institute for Housing Studies, DePaul University
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Energy Efficiency Showcase February 8, 2012 | DePaul Center This event was made possible by
Affordable Rental Housing and the Opportunity for Energy Retrofits for Multifamily Buildings in Cook County Geoff Smith Institute for Housing Studies, DePaul University Energy Efficiency Showcase Preservation Compact February 8, 2012 Chicago, IL
Institute for Housing Studies • IHS provides affordable housing practitioners such as government housing agencies, financial institutions, and community organizations with reliable and impartial research and data about the state of affordable housing and the condition of neighborhood housing markets in Cook County • IHS is a key partner of the Preservation Compact – Provides data and technical assistance to working groups and partner agencies. • IHS has built a data clearinghouse that collects parcel level data on different types of housing market activity in Cook County: • Government assisted affordable housing stock (IHDA, HUD, City of Chicago) • Property characteristics for all parcels in Cook County (Cook County Assessor) • Property transfers (Cook County Recorder, Property Insight) • Mortgage recordings (Cook County Recorder, Property Insight) • New foreclosure filings (Record Information Services, Property Insight) • Completed foreclosure auctions (Record Information Services) • Property listings, sales, rent (Multiple Listing Service) • Delinquent tax sales (Record Information Services)
Multifamily Units By Building Size and Neighborhood Income Level Source: Cook County Assessor
Affordable Rental Housing and the Opportunity for Energy Retrofits for Multifamily Buildings in Cook County Geoff Smith Institute for Housing Studies, DePaul University Energy Efficiency Showcase Preservation Compact February 8, 2012 Chicago, IL
Energy Savers: Your one stop shop for energy efficiency upgrades A project of CNT Energy and Community Investment Corporation (CIC)
One Stop Shop We offer: Energy Analysis Cost-effective energy-saving recommendations Low-cost financing through our partner, Community Investment Corporation, rebates with utilities Construction Oversight Track building performance to ensure savings
Looking at Heating Systems Boiler turns on 8 minutes later 30 minutes later
The Best Paybacks Worse Upgrade windows Upgrade boiler Payback time Upgrade boiler controls/balance system Better Air-seal & insulate roof Percent savings
Quality Installation is crucial Develop an implementation plan Solicit and help review bids from contractors Monitor installation Ensure quality Monitor ongoing savings
Energy Savers Results Over 7,500 units upgraded 350 jobs created 1,714,800 gas therms saved Collective savings of over $6 million and growing
Apply today! Energy Savers Visit the Energy Savers table to sign up Talk with CNT Energy and CIC Chat with an Energy Saver 1-855-ESavers (372-8377) info@energysaversprogram.org www.cntenergysavers.org
Chicagoland’s Leading Neighborhood Revitalization Lender Serving the Chicagoland area for over 35 years
CIC Loan Products • Energy Savers Loans • Availability • Terms
CIC Loan Availability • City of Chicago (Energy Savers & CIC Loans) • Cook County (Energy Savers & CIC Loans) • DuPage County (Energy Savers & CIC Loans) • Lake County (IL) (Energy Savers & CIC Loans) • Kane County (Energy Savers & CIC Loans) • Will County (Energy Savers & CIC Loans) • McHenry County (Energy Savers & CIC Loans) • Kendall County (Energy Savers) • City of Rockford (Energy Savers)
Energy Savers Loan • 3% fixed interest rate • 7 Year Term (7 to 15 year amortization) • 1.15 Total Debt Service • Up to 100% of Energy work can be financed • Free Energy Assessment (by CNT Energy)
Applicant’s Role in the Process • Do your homework, know what you’re buying & getting into • Networking in the Neighborhood - police, community organizations, other landlords • Know your sources of Equity • Follow through on your Loan Application • Order your free Energy Assessment
Contact Information • CIC – for Energy Loans and other CIC Loans • (312) 258-0070 • www.cicchicago.com • CNT Energy – for Energy Assessments • 1-855-ESavers (372-8377) • www.cntenergysavers.org
Enterprise Community Investment, Inc. Green Refinance Plus
Eligible Properties Minimum 10 years Placed in Service Must Have Affordability Restrictions (20% at 50% AMI or 40% at 60% AMI) Acquisition or Refinance (Not a Sub-Rehab Product) $3 Million Loan and up
Benefits of Program More Loan Proceeds Maximum LTV from 80% to 85% Minimum Debt Service Ratio from 1.20 to 1.15 Competitive Pricing (Minimum 10 year term) Flexibility Delegated Underwriting Execution
Additional Loan Requirements Green Audit as part of CNA Subsidy Layering Review (If Applicable) Track Utility Costs (Annual Reports)
Enterprise Community Investments, Inc. MultifamilyMortgage Finance
Utility Programs Serving Multi-Family Properties in Northern Illinois Energy Efficiency Showcase DePaul Center Chicago, IL February 8, 2012
Multi-Family Home Energy Savings Program Overview • Offered at NO COST to multi-family properties served by ComEd and Nicor Gas, Peoples Gas or North Shore Gas excluding low-income housing. • Energy efficient measures include: • Water-saving shower heads, • Kitchen and bath aerators, • Up to 8 CFLs (including specialty CFL’s) • Program with Nicor Gas includes a pilot for programmable thermostats and water heater temperature setbacks. • Additional program offerings include: coordination with the utilities’ Small Business, Prescriptive and Rebate programs for central plant and common area lighting measures.
Program Accomplishments & Goals (1) The joint programs were launched in 2010. June 2008 – May 2010 only included All-Electric properties. (2) As of June 2011, customers with electric domestic hot water will be served through the joint program as funds are available.
Program Benefits • Energy efficient measures installed to-date (June ’08 – January ‘12) • CFLs > 380,000 Installed • Water measures > 200,000 Installed • Programmable Thermostats > 1,500 Installed • Estimated savings to customer • Customer satisfaction averages over 4.8 on a 5.0 scale • Penetration rate exceeds 85% Note: Savings does not include potential reduction in water and sewage expenses. Savings based on $0.13/kWh and $0.70/therm.
Utility Program Information • ComEd • Website: www.ComEd.com/HomeSavings • 888-806-2273 • Nicor Gas • Website: www.NicorGasRebates.com • 877-886-4239 • Peoples Gas & North Shore Gas • Website: www.peoplesgasdelivery.com or www.northshoregasdelivery.com • 855-849-8928 • Email:peoplesgas@franklinenergy.com or northshoregas@franklinenergy.com
Citizens Utility Board Contact: 1-800-669-5556 www.citizensutilityboard.org www.CUBenergysaver.com Bryan McDaniel – bmcdaniel@citizensutilityboard.org Sarah Moskowitz – smoskowitz@citizensutilityboard.org
Energy Savers Profile: 6731 S. Jeffery Built in 1928 Steam boiler Seven-story brick building with 55 units Energy analysis in 2009
Energy saving improvements New steam boiler New boiler controls with indoor temperature sensors Replaced hot water heaters with high efficiency model Insulated heating pipes Financing through CIC and funding from People’s Gas
Savings • 45% gas savings • $21,600/year cost savings • Simple payback based on actual savings to date: 4 years
Apply today! Energy Savers Visit the Energy Savers table to sign up Talk with CNT Energy or CIC Chat with an Energy Saver 1-855-ESavers (372-8377) info@energysaversprogram.org www.cntenergysavers.org
Energy Efficiency Showcase February 8, 2012 | DePaul Center Thank you for attending! Apply for programs today. Our experts will be on hand to answer your questions.