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Learn about current business initiatives including Environmental Upgrade Agreements.

Environmental Upgrade Agreements

What is an Environmental Upgrade Agreement (EUA)?

An EUA is an attractive financing agreement to improve the environmental performance of a commercial building. The agreement is between a financial institution, a property owner and a Council.

In a circular motion, the financial institution advances funds to a commercial property owner to undertake upgrade works. The commercial property owner then makes repayments through their Council rates. Council forwards the repayments to the financial institution.

The benefit of Council involvement is that the loan is attached to the Council rates for the commercial property, and therefore has a high level of security. This security enables the financial institution to offer very attractive loan terms.

Eligible commercial property owners can apply for up to 100% of project costs with repayments structured through Council’s rates on a quarterly basis. The minimum loan amount is $15,000.

What type of projects are eligible?

• Installation of an approved solar photovoltaic (PV) system to any eligible premises.
• Installation of an approved solar hot water (HW) system to any eligible premises.
• Measures that reduce greenhouse gas emissions, save or generate energy.
• Lighting upgrades to more efficient lighting e.g. LED, lighting controls and daylight sensors.
• External façade upgrades for solar shading.
• Heating, cooling and ventilation improvements.
• Efficient unit replacement e.g. pumps and variable speed control equipment.
• Electronic control equipment e.g. power control of motors, pumps, boilers and air heating/cooling systems.
• Rainwater harvesting and filtration systems.
• Waste water, grey/black water recycling/treatment for re-use of water.
• Toilet/urinal replacements for accredited and compliant efficient systems.

What are the benefits?

• Protect your business from rising energy prices.
• Replace old and inefficient equipment with newer more efficient technologies.
• Free up cash flow by locking in competitive long-term rates.
• Reduce your company’s greenhouse gas emissions.

What are the eligibility criteria?

To be eligible for an EUA your building:

• Must have been a rateable premises for the past two years.
• Must be a commercial premises with a minimum of 50% of the building operating as commercial.
• Must not have been in arrears with rate payments for the past three years.
• Must not be owned through a superannuation trust.

How do I apply?

To enquire about applying for an EUA contact Sustainable Melbourne Fund. They will check your eligibility and assist you throughout the application process.

Phone: (03) 9658 8740
Email: info@sustainablemelbournefund.com.au
Website: www.betterbuildingfinance.com.au

Key documents

Information sheet on EUAs
EUA application form
EUA Application terms and conditions
Building owner statutory declaration

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