Through the Energy Retrofit Loan program, the City offers fixed, long-term, low-interest financing to enable building owners to invest in low-carbon, energy-efficient capital improvements and increase your net operating income (NOI).
All buildings located in Toronto are eligible, including:
Third-parties are eligible to apply on behalf of the building owner. Funds will be dispersed to the building owner.
Eligible measures/technologies include:
To submit an EOI with basic details about your project, please download and complete the ERL Expression of Interest form and submit it to email@example.com.
Eligible applicants will be invited to complete a detailed application to verify the project energy and carbon savings and create a business case.
Minimum documentation requirements include:
City staff will review your application and develop a business case to determine funding eligibility.
Once your detailed application is approved, the City will create a Funding Agreement that sets out the terms of the agreement between the building owner(s) and the City of Toronto. The Agreement must be signed by both parties.
The interest rate specified in the Agreement will be valid for a period of 60 days, after which the rate will be updated to reflect the City’s current cost of borrowing.
Sample agreements can be made available for relevant projects.
Funds will be disbursed to the building owner, as outlined in the Funding Agreement.
The City offers fixed-rate financing for up to 100 per cent of project costs for terms up to 20 years. Funding limits will be determined by a business case assessment.
The interest rate will reflect the City’s cost of borrowing. As the City’s cost of borrowing varies daily, the actual interest rate cannot be confirmed until the loan is approved.
For questions or to obtain the current rate, please contact us at firstname.lastname@example.org.
The City of Toronto’s Energy Retrofit Loan can support your client’s low carbon or energy efficiency investment and enable deeper retrofits. Through the ERL your clients can avoid the large upfront cost of building improvements and repay the loan over time as they save on energy.
To request brochures, posters, presentation materials or to schedule a call, please email email@example.com.