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High-rise Retrofit Improvement
Support Program (Hi-RIS)
December 5, 2017
1
AGENDA
Hi-RIS Program
Application Process
Case Studies
2
Addressing City Priorities
Hi-RIS Program
Housing Quality & Affordability
Poverty Reduction
Energy Security
4
Tower
Hi-RISRenewal
ProgramOverview
5
Towers
Hi-RIS Across
ProgramToronto
6
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Home
Energy
Loan
Program
What is HELP?
• Low interest loans to
homeowners interested
in undertaking energy
efficiency, water
conservation and
renewable energy works
• Repayment on property
tax bill over financing
term
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Who is eligible?
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High-rise
Retrofit
Hi-RIS Program
Improvement
Support
What is Hi-RIS?
• Low cost financing for improving
the condition of apartment
buildings
• Financed via agreement with
City of Toronto
• Repayment on property tax bill
over financing term
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High-rise
Retrofit
Hi-RIS Program
Improvement
Support
Who is eligible?
• Multi-unit residential buildings
(MURBs) with 3 or more
storeys located in Toronto
• Eligible MURBs:
• Residential apartments
• Non-profit housing
• Condos & Co-ops do not
qualify
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Details
Hi-RIS ofProgram
Financing
How much financing is available
to owners?
• Up to 10% of the current
assessed value per property
What are the terms?
• Programs ending in December
2018
• Owner must submit an energy
audit from within the last 3
years for Hi-RIS
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Property Improvements that Qualify
Hi-RIS Program
• Renewable energy technologies:
• solar thermal heating, solar PV, solar air heating systems, geothermal
heating and cooling, geo-exchange etc.
• Mechanical system upgrades:
• boilers, booster pumps, BAS, MAUs, garage exhaust & CO controls,
heat/energy recovery ventilators, heat pumps, cooling systems etc.
• Building envelope retrofits:
• window/balcony door replacements, window/door caulking, exterior wall
cladding, roof replacements, building insulation etc.
• LED lighting, controls & water efficiency measures
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Property Improvements that Qualify
Hi-RIS Program
• Rule of Thumb:
1. Can the measure enable
energy/water savings? Or, does
it generate renewable energy?
2. Can it be identified in an energy
assessment/audit?
- Yes? We can finance it!
- Uncertain? Contact us.
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High-rise
Benefits to Owners
Retrofit
Improvement
Support
• Optimize performance
• Maximize utility incentives 2017 Interest Rates
• Competitive, fixed interest
Term Rate
rates
• Convenient repayment via 5 years 2.00%
property tax bill 10 years 2.75%
• Building owners choose 15 years 3.50%
energy auditors & contractors 20 years* 3.75%
• Loan attached to property, *Hi-RIS ONLY
not owner
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Benefits to Contractors
Hi-RIS Program
• Offer financing to move 2017 Interest Rates
stalled projects forward
• Long, fixed repayment terms Term Rate
to enable capital intensive
projects 5 years 2.00%
10 years 2.75%
• Useful life of equipment
determines max. term 15 years 3.50%
20
20 years*
years 3.75%
• Project management fees
Hi-RIS ONLY
included in Hi-RIS
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Application Process
Hi-RIS Program
Property Owner
Funding Request & Project Completion &
Application Agreement & Project
Energy Assessment Disbursement
Installation
Upon approval,
Homeowners Owner will
may require receive final
lender consent. disbursement.
Owner receives
letter with
confirmation of
eligibility.
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HELP & Hi-RIS PROGRAM
CASE STUDIES
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Case StudyCase Study
Solar PV Panel Installation
Single family dwellling, net metering program
Project Breakdown
Total project cost $28,250
Total Annual credit $2,016
Simple payback 14.7 years
HELP Financing costs 2.0%
Term length 5 years
Cost of Borrowing $1,461
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Case
Hi-RIS Study
Program
Roof Replacement
Rental apartment, 8 storeys, built 1960s
Project Breakdown
Total project cost $400,000
Total annual savings $900
Simple payback 444 years
Financing costs 2.75 %
Term length 10 years
Annual cost of financing $9,600
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Case
Hi-RIS Study
Program
Roof Replacement
Rental apartment, 8 storeys, built 1960s
Before After
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Questions?
Hi-RIS Program
Hi-RIS Program HELP
Fariha Husain Sarah Rodrigues
416-392-9688 416-392-1826
tower@toronto.ca homeenergyloan@toronto.ca
www.toronto.ca/hi-ris www.toronto.ca/home-
@TOTower_Renewal energy-loan
@livegreenTO
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