Home Energy Loan Program (HELP)

&
High-rise Retrofit Improvement
Support Program (Hi-RIS)

December 5, 2017

1
AGENDA
Hi-RIS Program

Transform TO Overview – HELP & Hi-RIS

Tower Renewal Strategy – Hi-RIS

HELP & Hi-RIS Program Overview

Application Process

Case Studies

2
Addressing City Priorities
Hi-RIS Program
Housing Quality & Affordability

Poverty Reduction

Rental Housing Reinvestment

Energy Security

Climate Change Commitments

Local Job Creation

4
Tower
Hi-RISRenewal
ProgramOverview

A program to drive broad environmental,

social, economic, and cultural change by
improving Toronto’s apartment towers
and the neighbourhoods that surround
them.

5
Towers
Hi-RIS Across
ProgramToronto

6
7
 Home
Energy
Loan
Program

What is HELP?
• Low interest loans to
homeowners interested
in undertaking energy
efficiency, water
conservation and
renewable energy works
• Repayment on property
tax bill over financing
term

8
 Who is eligible?

you own a detached, semi-detached, or row house;

all of the property owners consent to the Program;

your property tax and utility payments to the City are

in good standing; and

you obtain written consent from your mortgage lender,

if applicable.
Hi-RIS FINANCING PROGRAM
SAVE MONEY. SAVE ENERGY.

10
 High-rise
Retrofit
Hi-RIS Program
Improvement
Support

What is Hi-RIS?
• Low cost financing for improving
the condition of apartment
buildings
• Financed via agreement with
City of Toronto
• Repayment on property tax bill
over financing term

11
 High-rise
Retrofit
Hi-RIS Program
Improvement
Support

Who is eligible?
• Multi-unit residential buildings
(MURBs) with 3 or more
storeys located in Toronto
• Eligible MURBs:
• Residential apartments
• Non-profit housing
• Condos & Co-ops do not
qualify

12
Details
Hi-RIS ofProgram
Financing
How much financing is available
to owners?
• Up to 10% of the current
assessed value per property
What are the terms?
• Programs ending in December
2018
• Owner must submit an energy
audit from within the last 3
years for Hi-RIS

13
Property Improvements that Qualify
Hi-RIS Program
• Renewable energy technologies:
• solar thermal heating, solar PV, solar air heating systems, geothermal
heating and cooling, geo-exchange etc.
• Mechanical system upgrades:
• boilers, booster pumps, BAS, MAUs, garage exhaust & CO controls,
heat/energy recovery ventilators, heat pumps, cooling systems etc.
• Building envelope retrofits:
• window/balcony door replacements, window/door caulking, exterior wall
cladding, roof replacements, building insulation etc.
• LED lighting, controls & water efficiency measures

14
Property Improvements that Qualify
Hi-RIS Program
• Rule of Thumb:
1. Can the measure enable
energy/water savings? Or, does
it generate renewable energy?
2. Can it be identified in an energy
assessment/audit?
- Yes? We can finance it!
- Uncertain? Contact us.

15
 High-rise

Benefits to Owners
Retrofit
Improvement
Support

• Optimize performance
• Maximize utility incentives 2017 Interest Rates
• Competitive, fixed interest
Term Rate
rates
• Convenient repayment via 5 years 2.00%
property tax bill 10 years 2.75%
• Building owners choose 15 years 3.50%
energy auditors & contractors 20 years* 3.75%
• Loan attached to property, *Hi-RIS ONLY
not owner

16
Benefits to Contractors
Hi-RIS Program
• Offer financing to move 2017 Interest Rates
stalled projects forward
• Long, fixed repayment terms Term Rate
to enable capital intensive
projects 5 years 2.00%
10 years 2.75%
• Useful life of equipment
determines max. term 15 years 3.50%
20
20 years*
years 3.75%
• Project management fees
Hi-RIS ONLY
included in Hi-RIS

17
Application Process
Hi-RIS Program
Property Owner
Funding Request & Project Completion &
Application Agreement & Project
Energy Assessment Disbursement
Installation

Owner completes Submit Funding Building owner

Application/Expre Request Form, receives duly Owner conducts
ssion of Interest energy signed copy of final assessment.
Form. assessment the Property
report and Owner
contractor Agreement.
quotes. Project
Building Owner Completion
designates an Report is
Upon approval,
authorized Installation of the submitted
Owner receives
representative. improvements. including
Property Owner
Agreement. invoices.

Upon approval,
Homeowners Owner will
may require receive final
lender consent. disbursement.

Owner receives
letter with
confirmation of
eligibility.

18
HELP & Hi-RIS PROGRAM

CASE STUDIES

19
 Case StudyCase Study
Solar PV Panel Installation
Single family dwellling, net metering program
Project Breakdown
Total project cost $28,250
Total Annual credit $2,016
Simple payback 14.7 years
HELP Financing costs 2.0%
Term length 5 years
Cost of Borrowing $1,461

20
 Case
Hi-RIS Study
Program
Roof Replacement
Rental apartment, 8 storeys, built 1960s
Project Breakdown
Total project cost $400,000
Total annual savings $900
Simple payback 444 years
Financing costs 2.75 %
Term length 10 years
Annual cost of financing $9,600

21
 Case
Hi-RIS Study
Program
Roof Replacement
Rental apartment, 8 storeys, built 1960s

Before After

22
Questions?
Hi-RIS Program
Hi-RIS Program HELP
Fariha Husain Sarah Rodrigues
416-392-9688 416-392-1826
tower@toronto.ca homeenergyloan@toronto.ca
www.toronto.ca/hi-ris www.toronto.ca/home-
@TOTower_Renewal energy-loan
@livegreenTO

23