Q: Are there any match requirements for the financing?
A: We will give preference to projects with other sources that complement our funding.
Q: Will my finance costs be less than my savings?
A: That is our goal, but every energy efficiency/conservation project is unique. CDFA and the Community Loan Fund will make every effort to work with applicants to create a financing package that is cash-flow positive. Pay-back periods will vary with energy prices.
Q: What is your selection criteria?
A: Awards will be based on numerous factors that will help us to achieve the objectives of the program. Those factors include:
- The availability of funds
- The financial soundness of your business
- The age and current energy efficiency of your building
- The geographic dispersion of awardees
- The sizes and types of businesses funded under the program
Q: When and how do I apply and what is the schedule for this program?
A: Applicants must submit an Initial Inquiry form on CDFA’s online grants management system. Applications submitted through February 28, 2011 will be reviewed as they are submitted until all funds are committed. Prior to accessing the grants management system, you will need a User ID and Password. If you have not yet registered to receive a User ID and Password, please register here.
Initial inquiries will be reviewed by CDFA and the Community Loan fund on a first-come, first-served basis, and will provide basis information to evaluate the applicant’s fit to the program. Requested information includes the applicant’s finances, information regarding the building targeted for the energy-efficiency investment, and historical energy use at that building. If you have already had an energy audit completed on the building, we will ask you to attach a copy of that to your submittal.
If you have had an audit done and your project meets our financial and building energy needs criteria, we will ask you to complete a full loan application. The loan application will ask for more detailed information regarding your project and will require at least three competitive proposals that specifically address the scope and the cost of completing the project. We will also ask for a detailed list of the funding sources you will use to finance the project.
Loans will be negotiated on a first-come, first-served basis with consideration being given to funds availability, geographic location and type of business.
After February 28, 2011, we will determine, based on the availability of funds, whether to continue to accept inquiries.
If our review of your inquiry demonstrates that your project meets the criteria for our program and you have not yet performed an energy audit, we will offer you the opportunity to have an audit subsidized by program funds. If you are a commercial business will pay 50% of the cost of the audit; if you are a nonprofit we will pay 75% of the cost of the audit.
If you wish to go through the audit process, you will be asked to sign an agreement and submit to CDFA your portion of the fee prior to the audit being done. When the audit has been completed and we know which energy measures will be the most effective, you will have the opportunity to submit a loan application.
Please note: Program guidelines and loan rates and terms are subject to change. Financing commitments will be subject to underwriting criteria and availability of funds.
Additionally, CDFA and the Community Loan Fund will offer a series of informational workshops throughout state. If you have questions about the program or the workshops, please call Cassandra Bradley, CDFA Loan & Portfolio Manager, at (603) 717-9114 or email her at cbradley@nhcdfa.org.
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Q: Who is eligible?
A: Any business or nonprofit operating in New Hampshire is eligible. Churches are eligible, buildings with over 4 units are eligible including large apartment buildings, but private homes are not. Because funds are limited, only single buildings will be eligible for an energy audit grant, but multiple buildings will be considered for financing.
Home-based businesses are eligible for costs associated with the business use of the home but not the residential use. For example, the Fund can finance that portion of a new furnace used to heat a craftsman’s studio.
Q: Do I need to own my building to be eligible?
A: No, you do not need to own your building to be eligible, however you will need to provide documentation of the property owner's consent to conduct the project. Additionally, if you lease your space, the terms of the lease must be compatible with return on investment projected in your energy project and the financing terms.
Q: How many estimates do you require for a project?
A: We need three quotes for any proposed construction work or equipment.
Q: What are the costs to me/my business if I participate?
A: You will pay for your share of the audit, the principal and interest on the loan, and the normal costs associated with managing the project.
Q: What are the reporting requirements?
A: Projects that receive funding under the Enterprise Energy Fund can expect to report future energy use to help to demonstrate the impact the program has had on energy use. In addition, as these funds have been made available through the American Recovery and Reinvestment Act ("ARRA") you may be required to report on job creation and other factors as well.
Q: Will my business information be made public if I participate in this program?
A: This program uses federal funds, so information relating to you project may be made public. We will also request that grantees participate in promoting the benefits of the Enterprise Energy Fund. That promotion may include articles and photos in newsletters, on Web sites and social media, and in traditional news media.
Otherwise, you should anticipate that the following information about your enterprise will be publicly available:
- The name of your enterprise
- Location
- Type of business
- Project size
- Award amount
Your proprietary and financial information, Social Security information, etc. will not be made publicly available.
Data on the Fund's impact on energy savings and jobs will be collected, but reported publicly only in aggregate.
Q: What is Davis-Bacon and how will it impact my project?
A: The Davis-Bacon Act is a federal law that requires that contractors pay prevailing wage rates to workers on construction projects that are funded with federal funds. Section 1606 of the Recovery Act specifies that laborers and mechanics employed by contractors and subcontractors on construction projects funded directly by or assisted in whole or in part under the Recovery Act, which includes this program, must be paid at least the wages rates prevailing in the locality in accordance with the DBA.
In order to comply with Davis-Bacon, your contractors will be required to provide certified payrolls for all workers performing work on projects funded with Enterprise Energy Fund money. The wages paid will be compared with the prevailing wage rate, and any underpayment will require restitution to the underpaid worker(s). A contractor’s failure to comply with the Davis-Bacon requirements will result in a loss of funding for your project. Davis Bacon applies to laborers and mechanics employed at the work site. Auditors, inspectors, and other personnel not performing physical or manual work at the site of the work are not covered.
We strongly suggest that you inform contractors bidding on your energy project of the Davis-Bacon requirement prior to their submitting a bid. In this way your bids will be based on comparable cost estimates and it will minimize the possibility of surprises later on.
The prevailing Davis-Bacon wage rates can be found at: http://www.gpo.gov/davisbacon/nh.html
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