An Environmental Upgrade Agreement (EUA) is a smart way to finance a commercial building upgrade. The voluntary agreement is made between a commercial building owner, a financial institution, and Council, and the building improvements can deliver significant savings that can then be used to repay the upgrade finance.
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.
Council will enter into an EUA if the:
- building is an existing non-residential building, not strata titled, and located within the North Sydney Local Government Area
- building owner has an Australian business address or uses an Australian agent
- building owner seeks to carry out environmental upgrade works to a building, subject to satisfying development application (DA) requirements
- building owner and existing buildings do not have outstanding rates payable.
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.
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.
You can call, email or visit our Customer Service Centre for further assistance.Contact Council