Apply for building upgrade finance

Building upgrade finance helps building owners to access capital with very favourable terms to upgrade their commercial building to save on energy, water and waste.

Project Status: When you need to do this

What you need to do

Building upgrade finance application formPDF · 60.84 KB · Last modified
Building upgrade finance direct debit applicationPDF · 58.49 KB · Last modified
Environmental upgrade agreement templateDOCX · 97.21 KB · Last modified
Environmental upgrade agreement additional conditionsDOCX · 46.69 KB · Last modified

Schedule of fees

Administration fee

The administration fee depends on the loan amount, see list below. Levied as an upfront payment at the time of the first EUC payment. Includes an establishment fee and a processing fee. Note, all fees are quoted inclusive of GST.

  • Loans up to $50,000: $250
  • Loans from $50,001 to $200,000: $1,250
  • Loans from $200,001 to $400,000: $3,000
  • Loans from $400,001 to $800,000: $6,000
  • Loans from $800,001 and over: $11,000

Late payment fee

$64 plus court fees. Levied at each step of the enforcement procedure.

Amendment fee

$360. Levied as a one-off payment at the time of amendment to the agreed repayment schedule. Where an extension to the loan term is being made the difference in the administration fee will also be payable.

Before you start

Identifying eligible upgrade works is the first step.

Eligible projects must improve the environmental performance of the building 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.

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.
The building upgrade processThe steps required for a typical building upgrade process.
Building upgrade process infographicPDF · 74.21 KB · Last modified