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New York: Energy efficiency loans available
The Community Preservation Corporation has announced that $1 billion in loans will be made available for energy efficiency projects in New York.
Thu, Oct 01, 2009 at 02:30 PM
Hot on the heels of a news release announcing a green building program
designed to train New York City building superintendents in energy efficiency measures comes a massive financing effort by The Community Preservation Corporation (CPC). The CPC, along with Freddie Mac, the state of New York and New York City public employee pension funds, and other private lenders have made $1 billion in loans available for energy efficiency projects in the state.
“Our realistic goal is to increase fuel and electrical efficiency of existing apartment buildings by 20 percent or more, reducing a prime source of greenhouse gas emissions in our cities,” said Michael Lappin, CPC president and CEO. “We anticipate financing retrofits for up to 15,000 apartments over the next few years. But to change the urban landscape we will also need to adjust the financing landscape.” Source: CPC
The program is designed to fund energy efficient upgrade and retrofit projects, but also has measures to track the progress of the energy saving measures taken. This will help the organization better plan future projects.
While the initial program is limited to New York, the overall design of the program allows for easy portability to other locations around the United States.
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