esther toporovsky program director green communities
DESCRIPTION
ESTHER TOPOROVSKY Program Director Green Communities. Enterprise works nationally. Integrated Design. Water Conservation. Materials Beneficial to the Environment. Energy Efficiency. Health. Location and Neighborhood Fabric. Green Communities Criteria creates green affordable housing. - PowerPoint PPT PresentationTRANSCRIPT
ESTHER TOPOROVSKY
Program Director
Green Communities
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Enterprise works nationally
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Operations and Maintenance
IntegratedDesign
Energy Efficiency
Location and Neighborhood
Fabric
Materials Beneficial to the Environment
Health
Water Conservation
Green Communities Criteria creates green affordable housing
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Existing properties are in need of retrofitting
o Existing buildings emit 21.6% of total U.S. CO2 emissions
o It takes 65 years for a new, energy efficient building to save
the amount lost in demolishing an existing building
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Current market barriers present challenges to retrofitting
o Imperfect information
o Multiple energy audit tools
o Lack of a comprehensive protocol
o Limited technical capacity
o Inadequate financing
o Disaggregated benefits
o Split incentives
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Public policy shapes the retrofit landscape
o ARRA $11.6 billion in Energy Efficiency Funding
o State Energy Program (SEP)
o Weatherization (WAP)
o Energy Efficiency and Conservation Block Grants (EECBG)
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Enterprise addresses retrofitting through pilot markets
A standard retrofit process that is replicable and scalable
for any market that:
o Improves property cash flow
o Improves health of residents
o Creates opportunities for green jobs
o Reduces carbon emissions
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Enterprise provides technical assistance to owners
Combined technical support includes:
oWhole-Building Analysis
oEnergy and Water Usage Data Collection
oFinancing
oAssembling Subsidy Sources
oVerification and Monitoring
oTraining and Education
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Retrofit Toolkit assists owners to evaluate properties
o Steps to Retrofit your Property
o Portfolio Evaluation
o How to Find an Auditor
o Audit Protocols and GCNA Samples
o How to Assemble a Financing Package
o Construction
o Verification and Monitoring
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Enterprise Audit Protocols provide a building assessment
Enterprise Audit Protocols (GCNA & EEWC)o Building owners, Lenders, Subsidy Providers
Establisho Clear guidelines to evaluate potential retrofit of a building
Methodology for an audit that provideso Transparencyo Consistencyo Underwritable Savings
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Financing determines which audit protocol to use
o Ad-On Financing
Property takes on additional debt/or grant funds which is paid back by operational savings of the improvements
o Retrofit Mortgage Refinancing
Mortgage proceeds from the refinance pay for retrofit improvements, and debt is paid back by the energy and water cost savings, over the life of the mortgage
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Ad-On Financing is challenging
o Owner unwilling to take on debt
o Unfamiliar product
o Real Data to prove actual savings
o 50% to 70% subsidy required
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Enterprise is targeting mortgage refinancing for retrofits
Green Mortgage Modifications - Working with public and private agencies to explore:
o Underwriting enhancements - Bridge Loan Product
o Market Transformations - Green Refinance Plus Program
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Enterprise provides solutions through on the ground work
Challenges
o Financing Retrofit Improvements
o Assembling Many Different Types of Funding Sources
o Developing Partner Capacity
Solutions
o Multi family Mortgage Financing
o Policy Changes
o Standardized Protocol
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Our Progress
o Retrofit Fund – leveraged $30mmm
o Audits – completing audits on 124 buildings and 6,564
units by end of year
o Loans – closing on 6 loans by end of year
o Retrofit Toolkit – creating an online one-stop-shop for
developers to access free materials to retrofit their
properties
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Benchmarking our portfolio will track savings
Green Communities Offset Funding for Retrofits
