March 6, 2014
The EnergyWorks Loan Fund provides low cost financing to support energy efficiency retrofit projects for businesses and nonprofits in Philadelphia, Bucks, Chester, Delaware, and Montgomery, Counties. PIDC partners with The Reinvestment Fund and the Mayor’s Office of Sustainability to offer this innovative energy efficiency program. EnergyWorks will provide loans from $100,000 to $2.5 million at a 3.5% interest rate. Eligible projects must reduce energy consumption by at least 25%.
Funds can be used to retrofit an entire building with energy efficiency measures or to implement a single energy efficiency measure. Examples of energy-efficient measures include: lighting, HVAC controls, HVAC distribution measures, air conditioning systems, heating systems, machinery and equipment, water heater equipment, as well as sealing air leaks and adding insulation to the building envelope.
PIDC EnergyWorks Loan Projects include:
Ambler Development Partners-Ambler Boiler House
- Redevelopment of a former power generating station for an asbestos manufacturer into Class A office space
- Energy Conservation Measures- Building envelope, HVAC, plumbing, lighting, geothermal, white roof, and solar PV
- EnergyWorks Loan $2.2 million
APM -Paseo Verde
- New construction of a mixed-use, mixed-income, transit-oriented development with affordable housing, parking and retail
- Energy Conservation Measures- Building envelope, HVAC, plumbing, lighting, and solar PV
- EnergyWorks Laon $3 million
Campus Apartments-Hilton Homewood Suites
- New Construction of a 136-suite extended stay hotel
- Energy Conservation Measures- Building envelope, HVAC, plumbing , and lighting
- EnergyWorks Loan $1.6 million
Goldman Properties-The Philadelphia Building
- Replacement of 1,290 windows in historic office building
- Energy Conservation Measures-Windows
- EnergyWorks Loan $1.04 million
Parkway Corporation Home2Suites
- New construction of a 246-room hotel adjacent to the PA Convention Center
- Energy Conservation Measures- Building envelope, HVAC, and lighting
- EnergyWorks Loan $3 million
Apply now by visiting the EnergyWorks Loan Fund website (www.energyworksnow.com).
To find out how PIDC can assist your business with an EnergyWorks Loan contact Chamor Hollinger at 215-496-8157 or .