Apply for building upgrade finance
Once environmental upgrade works have been identified the building owner or manager should first talk to a lender and confirm in-principle finance approval.
Project Status: When you need to do this
What you need to do
- Once you’ve identified building upgrade works you should talk to a lender to confirm in-principle finance approval.
- Check with your existing lender whether they offer building upgrade finance through an environmental upgrade agreement. Sustainable Australia Fund and ANZ offer building upgrade finance loans.
- If your eligibility is confirmed, you’ll need to submit an EUA application form.
- If approved, you’ll need to complete the EUA template agreement. The City of Sydney charges an administration and processing fee for all EUAs. The fee amount is determined by the length of the EUA loan. Refer to the building upgrade finance schedule of fees for details of the administration and other fees charged by the City.
Schedule of fees
Administration fee: see table 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.
| Loan amount | Administration fee |
|---|---|
|
Up to $50,000 |
$250 |
|
$50,001 to $200,000 |
$1,250 |
|
$200,001 to $400,000 |
$3,000 |
|
$400,001 to $800,000 |
$6,000 |
|
$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.