How the finance works

How the finance works

Improving environmental performance

Identifying eligible upgrade works is the first step in the process to accessing building upgrade finance.

Eligible projects must improve the environmental performance of the building to qualify for the finance and may include repairs as well as upgrades, replacements or new installations.

The diagram below shows the steps required for a typical building upgrade process.

It also identifies the parties involved at each stage.

You can also download the building upgrade process diagram.

1. Identify eligible building upgrade project works. 2. Confirm in-principle finance approval with your lender and then your eligibility for building upgrade finance with City of Sydney. 3. Submit building upgrade finance application to the City of Sydney. Successful applications proceed to the template stage. 4. Prepare and finalise scope of work and tender process. 5. Finalise finance with lender including letter of offer. 6. Finalise building upgrade finance documentation - building owner/representative, City of Sydney and the lender prepare and execute building upgrade finance (contract, schedules and annexures). 7. Funds released and upgrade works are carried out. 8. Council levies upgrade costs on the land and sets repayments schedule. 9. The loan repayments are collected by the City of Sydney quarterly through the rates system and passed on to the lender. 10. The building owner submits a report when works are completed and provides an annual energy, water and CO2 savings report.
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Building upgrade process diagram PDF 74.2 KB Download

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Last updated: Monday, 23 October 2017