Lending Manager Judi Mortenson discusses how cities can partner with the Lending Center to make resources available to residents, resulting in cost-effective energy efficiency. Examples of existing partnerships highlight the degree to which programs vary from city to city.
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Lending Center Overview
1. Page 1
Lending Center Overview
Lending Center webinar
August 14, 2013
11:00 – 12:00
Hover your cursor at the top of your
screen to access the WebEx menu
bar and open your Chat box.
Technical questions: ajursik@mncee.org
3. Page 3
Judi Mortenson – CEE, Lending Manager
Thursday, August 14, 2013
Lending Center Overview
Lending Center overview:
Financing services available for Minnesota cities
Targeted Audiences
• City Housing and Planning Staff
• City Finance and Community Development Staff
4. Page 4
1. Awareness of the services available
through CEE
2. General knowledge of the lending
programs we offer
3. Benefits of partnering with CEE
Flexibility
Improved buildings in your community
Financial Impact
Lending Center Overview
5. Page 5
Residential & Business Efficiency
Programs
Research, Tools & Information
Financing!
Since 1993
In support of the CEE mission, our loan programs
are designed to promote energy efficiency and to
help reduce the burden of government.
Lending Center Overview
Services Available at CEE
6. Page 6
CEE internally funds 7 different programs
CEE administers loan programs in partnership with:
MN Department of Commerce
MHFA (Minnesota Housing Finance Agency)
o Largest Fix-Up originator for over 10-years
o Twin Cities area Platinum lender
City of Minneapolis Neighborhood Revitalization Program (“NRP”)
o 42 Minneapolis neighborhoods
7 Cities
o Anoka, Blaine, Brooklyn Park, Coon Rapids, Fridley, New Hope, St. Louis Park
Utilities
o Xcel Energy and Great River Energy
Current Lending Center Programs
Current Programs
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Energy Loan
Funded by CEE and/or the MN Department of Commerce
Financing can be used for Energy Efficiency Projects such as:
Furnace and Air Conditioning Replacement
Windows
Exterior Doors and Light Fixtures
Insulation and Air Sealing
Water Heater Replacement
Residential Programs
Current Programs
8. Page 8
Home Improvement Loan (Fix Up Program)
Funded by MHFA
Applicants are subject to income limits
Financing can be used for Home Improvement
projects that improve the basic livability or energy efficiency of
the property
Value-added services offered through he City can lower the rate further.
Examples:
Remodeling Advisor Service
Home Energy Squad
Current Programs
Residential Programs
9. Page 9
City Loans
Funded by the City
Variety of programs, based on City/Neighborhood goals:
Down payment assistance
Rehab loans
Energy Efficiency loans
Variety of loan types
Amortizing
Deferred
Grant
Residential or Business
Current Programs
Residential Programs
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Eligible projects include upgrades
to:
Lighting technology
HVAC controls
Refrigeration equipment
Envelope air sealing and insulation
For-profit entities
Low interest, fixed rate
Terms up to 10-years
Flexible underwriting guidelines
Current Programs
Business Programs
11. Page 11
Non-profit entities (501c3)
0% loan
$2500 Grant
Annual gross revenues <$5M
Current Programs
Business Programs
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Over $179 million in energy and home improvement loans
have been funded at CEE:
$11 million through the MN Dept. of Commerce-Dept. of Energy
Suburban City Funding = $28 million (2,500 loans)
Minneapolis: $27 million (5,700 loans)
MHFA Funding = $106 million (8,900 loans)
CEE funding = $6 million
plus an additional $333,000 in Grants
Lending Center
Lending Center Impact
20. Page 20
Partnerships
Lending Center link on your web page
Add a Lending
Center link to your
website as a
resource for your
residents and
businesses
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Home Shows
Richfield Home and Garden Expo
West Metro Home Remodeling Fair
North Metro Community Home and Garden Show
North Suburban Home Improvement Show
Northwest Suburban Remodeling Fair
South Minneapolis Housing Fair
Events
St. Louis Park Home Tour
City of Brownton
Xcel Energy Efficiency Expo
2013 Minnesota League of Cities Convention
New Hope Community Access Television
State Fair Eco Experience
Energy 101 Presentations
TOLBY
Partnerships
Community Engagement
23. Page 23
Low cost financing can benefit your community
+ Home & Business owners have more efficient, less costly
buildings
+ Property value increases with home improvements
+ Housing stock is improved
Benefits
Win-Win-Win
24. Page 24
Contact Us!
Judi Mortenson
Lending Manager
612-335-5864
jmortenson@mncee.org
Contact Us
Ready to get started?
Nate Phelps
Community Relations Manager
612-335-5881
nphelps@mncee.org
http://www.mncee.org/What-We-Do/Lending-Center/
25. Page 25
Contact Us!
Judi Mortenson | Lending
Manager
612-335-5864
jmortenson@mncee.org
Contact Us
Ready to get started?
Nate Phelps | Community
Relations Manager
612-335-5881
nphelps@mncee.org
http://www.mncee.org/What-We-Do/Lending-Center/
Megan Hoye | Engagement Coordinator
612-244-2417
mhoye@mncee.org