Accessing Building Upgrade Finance
Talk with an energy/technical consultant about identifying upgrade opportunities for your building and develop an upgrade scope of works. Energy/technical consultants can also assist with upgrade eligibility and technical requirements of Building Upgrade Finance.
Discuss the scope of upgrade works with a finance provider for building upgrade finance eligibility. While you can use any finance provider for building upgrade finance, the following finance providers have specialised products available:
- Eureka Environmental Upgrade Finance
- Bank Australia
Once you have identified your upgrade works and confirmed finance eligibility, complete and submit the City of Parramatta Council Environmental Upgrade Agreement Application Form.
Council uses this form to ensure that your project meets all of the legislative and City of Parramatta Policy requirements. Eligibility confirmation will be provided by Council within 7 working days.
Environmental Upgrade Agreement contract
Once eligibility has been confirmed the Environmental Upgrade Agreement (EUA) contract is prepared by the finance provider, with input from Council, the building owner and energy consultant. The EUA contract facilitates the repayment of the loan through council’s rates processes to the finance provider. Typically, the finance provider will prepare the EUA contract and the building owner’s Letter of Offer (LOO), at the same time.
All upgrades using Building Upgrade Finance must use the EUA contract approved by the NSW Government
Once the EUA contract is executed by all three parties (building owner, finance provider and council), the funds are released to the building owner and the upgrade works are undertaken.
A brief annual report of works completed and savings verified is to be provided by the building owner to Council each year, for the term of the loan. The annual report (building) template is included as Schedule 8 of the EUA contract.
Part of Council’s role in facilitating the repayment of the loan through the rates system is recovery of unpaid repayments. Council’s Enforcement Procedure outlines this process, and forms a part of the EUA contract (Annexure 1).
Fees and charges
Council provides Building Upgrade Finance on a basic cost recovery basis. The application and annual administration fee is generally paid as a part of the first loan repayment. See Council’s 2017-2018 fees and charges.