NYCEEC Green Predevelopment Loans, in partnership with the NYC Department of Housing Preservation & Development (HPD)
Obtaining a NYCEEC Green Predevelopment Loan is easy.
If you’ve already spoken to HPD and found out that you’re a good fit, download and complete NYCEEC’s short loan application and full term sheet here.
About HPD
Established in 1978, the New York City Department of Housing Preservation and Development (HPD) promotes the quality and affordability of the city’s housing and the strength and diversity of its many neighborhoods. HPD works with non-profit and for-profit building owners to maintain affordability and provides financing for rehabilitation and energy-efficiency updates.
HPD offers rehabilitation loans through several preservation programs. Building owners applying to or working with the following programs are eligible to apply for a NYCEEC Green Predevelopment Loan:
Eligible Programs:
Green Housing Preservation Program (GHPP)
HUD Multifamily Program (HUD)
LIHTC Preservation Program (Year 15)
Multifamily Housing Rehabilitation Program (HRP)
Multifamily Preservation Loan Program (MPLP)
Neighborhood Pillars Program
Participation Loan Program (PLP)
NYCEEC'S Role
In partnership with HPD, NYCEEC offers attractive financing for any predevelopment expenses associated with participating in one of the Eligible Programs – enabling all building owners to enjoy these programs’ benefits.
NYCEEC can finance up to $40,000 for 1 building and $60,000 for 2 buildings for up 18 months with a simple and straightforward approval process. Loan amounts for projects involving 3 or more buildings will be determined on a case-by-case basis.
Eligible Expenses Include:
Integrated Physical Needs Assessment (IPNA)
Property Appraisals and Surveys
Lead and Asbestos Testing
Engineering Studies
NYCEEC Green Predevelopment Loan Terms
Eligible Predevelopment Activities | ||
|---|---|---|
Integrated Physical Needs Assessments (IPNAs) | ||
Enterprise Green Communities (EGC) Consultant | ||
Property Survey | ||
Lead and Asbestos Testing | ||
Scope of Work Development | ||
Architectural Drawings | ||
Technical Assistance Services | ||
Legal Fees | ||
Appraisal | ||
Environmental Reports (Phase I and II) | ||
Any other eligible cost as applicable and as required by HPD | ||
Please note, each loan allows up to three draw requests, with the second and third draws contingent on the results of the IPNA. If the IPNA does not identify sufficient energy efficiency measures, no further advances will be made.