Value
$10,000,000.Description
Access a competitive-rate loan in combination with a grant to implement a local financing program for home-energy upgrades. Funding is intended to support start-up, operating and capital costs over a four-year implementation period.
- Loan details: Up to $10 million per local program provided for on-lending within the community for home-energy upgrades on private property and associated costs. Up to 30% of the approved loan amount can be used for approved non-energy improvements (e.g., water conservation, climate adaptation, alternative energy) at the individual participating home
- Grant: Up to 50% of the GMF loan amount to cover program start-up costs (e.g., legal services, procurement of IT tools, website development) and multi-year operating costs (e.g., staffing, marketing and promotions)
Eligible Applicants
All Canadian municipal governments (with the exception of Low Carbon Cities Canada (LC3) namesake municipalities; Municipal government project partners.
The following entities are not eligible to receive funds directly:
- Homeowners
- Federal government entities and any organizations established by those entities
- Provincial and territorial government entities and any corporation that they own or control
Eligible Expenses
Two funding options are available:
Capital loan combined with grant
Loan to a maximum of $10 million
Grant of up to a maximum of 50% of the loan amount to support start-up and operating costs
The combined loan and grant can cover up to 80% of total eligible program costs
Credit enhancement:
Credit enhancement of $2 million pledged by GMF to support third-party financing
Applicant must demonstrate a minimum leverage ratio of 5:1 (credit enhancement to third party capital)
Grant of up to $5 million (not to exceed 50% of total eligible costs and not to exceed total start-up and operating costs)
Deadline Date
Applications are accepted year round, though this offer will close when all funding has been allocated.Contact
Contact Name: Federation of Canadian Municipalities (FCM)
Phone Number: 1-877-417-0550
E-mail Address: 1-877-417-0550