Environmental Upgrade Agreements

Environmental Upgrade Agreements (EUAs) are a smarter way to finance your building upgrade, using private finance to upgrade non-strata commercial buildings.

 

Benefits

The savings pay for the upgrades

Building upgrades can deliver significant savings that can be used to repay the upgrade finance.

 

Owners and tenants share the benefits

Owners and tenants can both gain from maximising a building’s energy efficiency. An EUA allows owners and tenants to share these benefits.

To date tenants have contributed approximately 50 per cent of the cost of EUA funded energy efficiency projects.

 

A longer loan term

An EUA is secured finance so it can be locked in for a longer term, up to 15 years. This increases the likelihood that the savings generated will be greater than the EUA repayments and better match the life of the upgraded equipment.

 

The EUA is attached to the land

EUA finance is attached to the land. If the land is sold, the EUA may be transferred to the new owners or discharged on settlement.

 

Eligible upgrades

Eligible works include those that focus on:

  • energy and water efficiency
  • renewable energy
  • reducing greenhouse gas emissions
  • preventing or reducing pollution
  • reducing the use of materials
  • recovery or recycling of materials
  • monitoring environmental performance
  • encouraging alternatives to car travel, such as walking and cycling

How do the agreements work?

The agreement is voluntary and is between the building owner, a financial institution and North Sydney Council.

Loan repayments are collected by North Sydney Council through the rates payment system. The loan is levied as a special charge on the land (an Environmental Upgrade Charge) and paid to the financial institution within 7 days.

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Who can enter into an EUA?

North Sydney Council currently will enter into a EUA if:

  • the building is an existing non-residential building that is not strata titled located within the North Sydney local government area;
  • the building owner has an Australian business address or uses an Australian agent;
  • the building owner seeks to carry out environmental upgrade works to a building - subject to satisfying Development Application requirements;
  • the building owner(s) and/or existing buildings do not have outstanding rates payable.

More information

Contact Council’s Sustainable Business Coordinator on 9936 8100, or

EUA Coordinator at the Office of Environment and Heritage on 9995 5289

EUA Launch May 2013

EUA - a special loan?

 

 

Case Studies

460 Collins street, Melbourne

123 Queen street, Melbourne

470 Collins street, Melbourne

55 Swanston street, Melbourne 

501 Swanston, Melbourne

Kings Business Park, South Melbourne

10 Valentine Avenue, Parramatta 

 

Other NSW Councils with an EUA program 

City of Sydney
e eua@cityofsydney.nsw.gov.au
ph 9246 7843

Parramatta City Council
e eua@parracity.nsw.gov.au
ph 9806 5755 

Lake Macquarie City Council
e eua@lakemac.nsw.gov.au
ph 4921 0333

The City of Newcastle
e eua@ncc.nsw.gov.au
ph 4974 2000 

 

If you have EUA questions related to a DA then please speak to our free DA Advisory Service


Related Programs

Sustainability Advantage

NSW State Gov program which helps participating companies improve their environmental and business performance by developing a sustainability action plan.

Energy Saver

NSW State Gov program which provides subsidised energy audits and facilitation to eligible NSW businesses to help identify and implement energy savings.

NSW Energy Savings Scheme (ESS)

Additional funding for energy saving upgrades can be accessed through the creation and sale of Energy Savings Certificates, so under the ESS building owners or energy efficiency service providers can create and sell certificates to offset the capital costs of projects.

CitySwitch

is a national tenant energy efficiency program that works with commercial office tenants to address their carbon impact by improving energy efficiency.

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Related Links

Related Documents