Seeing the Greenbacks in a Green Retrofit: Key Issues in Securing Financing for a Green Retrofit

Green Building

Empire State BuildingSavvy building owners and operators recognize the commercial rental market’s growing awareness of energy efficiency and sustainability issues. Driven by state and local government mandates and a desire for healthier working environments, builders and architects are constructing new green buildings nationwide. However, for every new green building constructed, there are thousands of existing commercial buildings that remain energy inefficient–consuming water, electricity and gas in excess and spending a premium in bloated operating expenses. Renovating these relics of bygone days of carefree consumption to incorporate green concepts is a burgeoning industry. Even the Empire State Building in New York is undergoing a $20 Million green retrofit that is expected to save over $4.4 Million in annual energy costs and reduce the building’s overall energy consumption by close to 40%. Because investing the initial capital in a green retrofit can be expensive, especially for building owners in a down economy, many have turned to traditional lenders for financing. The majority of established lenders, however, have not yet developed a consistent approach for underwriting a green retrofit. In trying to secure financing for your green retrofit, how do you make your lender see the greenbacks in greening your building?
Continue reading →

Making Lemonade Out of Lemons: EPA’s Recent Step Toward The Development of Renewable Energy on Contaminated Properties

Contaminated Property

In September of 2008 EPA launched its RE-Powering America’s Land initiative with the objective of developing renewable energy on current and formerly contaminated properties. As a result of its 2009 meetings with stakeholders from the renewable energy industry, landowners, state and local governments and others, EPA recently took a significant step toward implementing this initiative with the release of its two-year draft management plan.Wind Turbines

Continue reading →

Can Construction Site Webcams Be Far Behind?

Water Quality

New Construction Water Quality Regulations Impose Tough Numeric Limits And Internet Reporting Requirements

The State Water Resources Control Board (“State Water Board”) recently adopted toughened standards for water flows generated by construction sites under a new statewide storm water construction general permit, Water at Construction Siteeffective July 1, 2010. The new permit (the “2010 Permit”) replaces the storm water construction general permit in place since 1999 (the “1999 Permit”) and imposes heightened requirements for managing water during construction. The 2010 Permit applies to construction sites of at least one acre and smaller sites that are part of a common development plan.

Continue reading →