Enterprise Green Communities Criteria
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Enterprise Green Communities Criteria. Trisha Miller Enterprise Community Partners. Green Communities Criteria. Integrated Design. Materials Beneficial to the Environment. Water Conservation. Energy Efficiency. Location and Neighborhood Fabric. Operations and Maintenance. Health.

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Enterprise green communities criteria

Enterprise Green Communities Criteria

Trisha Miller

Enterprise Community Partners


Enterprise green communities criteria

Green Communities Criteria

IntegratedDesign

Materials Beneficial to the Environment

Water Conservation

Energy Efficiency

Location and Neighborhood Fabric

Operations and Maintenance

Health


Building typologies

Building typologies


Enterprise green communities criteria

Construction Types

Roanoke & Lee – Blacksburg, VA

Westgate Terrace – Rochester, NY

Broadway Crossings – Seattle, WA


Enterprise green communities criteria

Geographic Locations


Enterprise and green communities funding

Enterprise and Green Communities FUNDING

  • Grants: Charrette and Sustainability Grants to help cover the costs of planning and implementing green operations and maintenance.

  • Predevelopment, and Acquisition Loans to support the development of affordable rental and homeownership housing that adheres to Green Communities Criteria.

  • Low-Income Housing Tax Credit (LIHTC) equity for new construction and/or rehabilitation of affordable rental housing that generally adheres to the Green Communities Criteria.

  • Green Mini Loans:A new lending program from Enterprise and the National Housing Trust Community Development Fund that provides nonprofit owners and developers capital to jump start green retrofits of older affordable rental communities.


Report findings

Report Findings

In 2009, Enterprise released report evaluating cost effectiveness of the Green Communities Criteria

  • Estimated lifetime savings exceed the initial investment of incorporating Green Communities Criteria into affordable housing

  • Direct savings come from energy and water conservation measures


Key findings

Key Findings

  • Average cost per unit to meet Energy and Water Criteria = $1,917

  • Energy and water efficiency measures paid for themselves as well as produced $2,900 in projected per-unit lifetime savings.


Quickest payback water conservation

Quickest Payback – Water Conservation

  • Installing water-conserving fixtures and appliances result in a very high returns on investment in terms of utility cost savings.

    • Average savings of $352 to $935 per home, versus average cost premium of $80 per home.

    • In simple payback terms, the investment is recouped in 2 to 3 years.


Putting residents first

Putting Residents First…


Slides courtesy of tom phillips seattle housing authority results breath easy homes study

Slides Courtesy of Tom Phillips, Seattle Housing AuthorityResults - Breath Easy Homes Study

Health Improvements


What we learned along the way

What we learned along the way…

  • Pre-development –

    • Green is not an add-on

    • Charrette a must

  • Construction –

    • Review plans and specs

    • Involve agency permit and inspection staff

    • Verify in the field

  • Post-construction –

    • Engage residents

    • Train property and operations staff

    • Ensure performance


Enterprise green communities criteria

All States Have Adopted Green Programs


Enterprise green communities criteria

Green Public Policy

  • States and Municipalities that have Integrated Green Communities Criteria into policy and programs:

    • Colorado

    • Iowa

    • Maryland

    • Minnesota

    • New York State

    • Washington State

    • Cleveland, OH

    • Denver, CO

    • New York, NY

    • San Francisco, CA

    • Washington, DC


How to touch every building

How to touch every building!

Learned:

Existing Properties are in Need of Retrofitting

Existing Buildings emit 21.6% of total U.S. CO2 emissions

It takes 65 years for an energy efficient new building to save the amount lost in demolishing an existing building


Current market barriers retrofit existing multi family buildings

Current Market Barriers:Retrofit Existing Multi Family Buildings

Imperfect Information

Multiple Energy Audit Tools

No comprehensive Protocol

Limited Technical Capacity

Inadequate Financing

Disaggregated Benefits

Split Incentives


Our solution enterprise green retrofit program

Our Solution: Enterprise Green Retrofit Program

An innovative effort toaccomplish green retrofit projects by improving energy and water efficiency in older affordable multifamily buildings.

Current pilot projects:

San Francisco, Bay Area

Los Angeles

Ohio

Boston with WINN Development

Pacific North West

New York

AAHSA

Enterprise Multi family Mortgage Finance


Goals of the program

Goals of the Program

Offer a standard retrofit process that is replicable and

scalable for any market, that:

Improves Property Cash Flow

Improves Health of Residents

Provides Opportunities for Green Jobs

Reduces Carbon Emissions


What enterprise provides

What Enterprise Provides

Whole- Building Analysis

Energy and Water Usage Data Collection

Financing

Assistance with Assembling Subsidy Sources

Verification and Monitoring

Training and Education


Two paths to retrofitting

Two Paths to Retrofitting

“Add-On” Financing- Property takes on additional debt/or grant funds which is paid back by operational savings of the improvements

“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


Ad on loan terms

Ad-On Loan Terms

PROPOSED LOAN TERMS:

Target Interest Rate5%

Loan Term10 years

Debt Coverage Ratio 1.15 – 1.25

Collateralunsecured

Repayment Sourceamortized monthly payments

Loans repaid with savings achieved as a result of the energy and water efficiency improvements.


Example projected energy savings debt service calculations

EXAMPLE:PROJECTED ENERGY SAVINGS & DEBT SERVICE CALCULATIONS*

EXAMPLE: San Francisco SRO; 105 units

COST OF IMPROVEMENTS: $692,010 ($6,591/unit)

ENERGY SAVINGS: $22,243/year

DEBT LOAD: $151,964

Projected Energy Savings Over Current Use: 25%

*based on draft Green Capital Needs Assessment


Potential financing scenario sf sro

POTENTIAL FINANCING SCENARIO SF SRO

DEBT $ 151,964

Weatherization $ 262,500

(assumes $2.5k/unit)

Replacement Reserves $ 52,500

(assumes $500/unit)

Utility Rebates/Incentives $ 67,546

(assumes 10% of total cost)

CDBG (SF assumption only) $ 157,500

$ 692,010


Example sf sro project budget scenario

EXAMPLE SF SRO: PROJECT BUDGET SCENARIO


Overall progress

Overall Progress

Funding-

Leveraged $31 million dollars in retrofit financing

Approval of 5 loans by year end totaling 775 units

Green Capital Needs Assessments-

Will complete 155 Energy and Water Conservation Audits and Green Capital Needs Assessments

Totaling 1,920 units by year end

2011 Goal-

Complete 40 more GCNAs

Close on 15-20 additional loans

Weatherize and Retrofit approximately 4,000 additional units

Create new innovative Refinancing Loan Products


Transit oriented development

Transit Oriented Development

  • Denver TOD Fund

    • Metro Denver addition of five new rail lines

    • Preservation and redevelopment of housing near transit

    • Sites within 1/2 mile of current or future light rail and a 1/4mile of high frequency, high volume bus corridors

  • Fund structure

    • Public-private partnership

    • $15 million in capital

    • Purchase and hold sites up to five years


Tod fund waterfall

TOD Fund Waterfall


Denver model

Denver Model

  • Three target property types

    • Existing federally-assisted rental properties

    • Existing unsubsidized, below-market rate rental properties

    • Vacant or commercial properties to be converted to new affordable housing

    • Note that preservation in this case is sometimes rehabbing and sometimes redeveloping while ensuring that affordable units are not lost

  • Outcomes

    • Creation and preservation of at least 1,000 units of affordable housing


Enterprise green communities criteria

Green Communities Offset Fund


Enterprise green communities criteria

BUILDING 1


Green communities technical assistance network

Green Communities Technical Assistance Network

  • Registry of over 100 TA providers

    • National searchable database

    • Online discussion forum

  • New Tools for Green Affordable Housing

    • Free Online Certification

    • Sample Designs and Specifications

    • Green Asset Management Toolkit

www.greencommunitiesonline.org


Thank you

Thank you!

For more information:

Website: www.greencommunitiesonline.org

Mailbox: [email protected]


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