The Green Development Center would like to remind you that funds are still available for financing the green features of your community development projects, and applications are being accepted from all LISC offices and programs. These projects can be ANY type of community development real estate project – not just housing. Apply now, as funds are limited and applications will be reviewed on a rolling basis.
The Green Loan Fund (GLF) offers both (i) predevelopment financing in the form of loans or recoverable grantsto pay the up-front costs of green planning and consulting during predevelopment phases, as well as (ii) construction financing in the form of a mini-perm loan to help pay the costs of critical green features of the project. Grants and loans awarded through the GLF can be layered with other LISC financing products. The recoverable grants are best used at the earliest stages of a project, to help offset the cost of hiring green expertise, and the mini-perm loan is meant to cover the “green premium” that might otherwise mean green features are taken out of the project during the value engineering phase. These two products make financing green features more attractive to developers while also ensuring that green design is integrated into all aspects from planning and budgeting, to construction and operation. Eligible projects include those LISC projects that meet a minimum green standard of ENERGY STAR certified for new construction, with consideration given to additional standards depending on the type of construction. Certain regional and local green standards also meet the baseline requirements.
For more information contact Randy Belin at email@example.com.