Please note: this is an old article
It was published in April 2018, so the information may be out-of-date.
Increasing your resource efficiency can provide significant cost benefits to your business. Council can assist with enabling and engaging your business to move towards a low-carbon future.
Environmental Upgrade Agreements
Council now offers Environmental Upgrade Agreements to assist Greater Shepparton businesses to save money and improve their environmental performance! The Sustainable Melbourne Fund is working in partnership with Council to deliver this service.
What is an Environmental Upgrade Agreement?
An Environmental Upgrade Agreement (EUA) is an agreement between a building owner, a bank and the building owner’s local council that facilitates a building upgrade to improve environmental performance.
Many commercial tenants are unable to make changes to the building that they lease. EUAs make this possible.
Many landlords won’t invest in improving their building because they see no incentive. EUAs provide owners with incentive to improve the value of their property.
What types of projects are eligible?
Various types of renewable energy (e.g. solar panels) and energy efficiency projects (e.g. lighting upgrades) have been pre-approved.
A separate list of building upgrade works is also provided for works that will require approval from an Independent Expert Reference Panel.
How do EUAs work?
A finance lender provides a loan and the building owner pays it back through Council (like Council rates). Council’s involvement in this process ensures that the loan is highly secure and the lender will provide better terms. The tenant can use a portion of the energy savings to contribute to repayments. There is no upfront capital required.
How do I apply?
Contact Sustainable Melbourne Fund to enquire about applying for an EUA. They will check your eligibility and assist you throughout the application process.
Phone: 9658 8740
Email: info@sustainablemelbournefund.com.au
Website: sustainablemelbournefund.com.au
For more information and application forms visit HERE