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 building upgrade finance and may include repairs as well as upgrades, replacement or new installations.

The diagram below shows how 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 buildingupgrade project works. 2. Confirm in-principle finance approval with yourlender and then your eligibility for building upgrade finance with City ofSydney. 3. Submit an Building Upgrade Finance (BUF) application to the City ofSydney. Successful applications proceed to the template stage. 4. Prepare andfinalise scope of work and tender process. 5. Finalise finance with lenderincluding the letter of offer. 6. Finalise BUF documentation - buildingowner/representative, City of Sydney and the lender prepare and execute BUF (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 therates system and passed on to the lender. 10. The building owner submits areport when works are completed and provides an annual energy, water and CO2savings report.
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Building upgrade process diagram PDF 74.2 KB Download

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Last updated: Monday, 23 October 2017