For projects targeting high performance building standards like passive house, all pre-development costs are eligible, including legal, environmental and permit fees. If you want to understand what implementation approaches to take, Navigator finances the predevelopment activities needed to assess, design, and scope energy and resiliency upgrades, including the following items:

• Energy benchmarking, opportunity assessments, and audits
• Green/integrated physical needs assessments
• Green charrettes
• Assessments of energy-related health and safety and resiliency issues
• Design, engineering, and bidding work
• Costs to secure project financing for the improvements
• Other reasonable expenses needed to get your energy project designed and funded

Affordable and market-rate multifamily properties with five or more units that are improving energy performance and resiliency can apply for Navigator Loans. Co-ops, condominiums, and rental properties are all eligible. Buildings owned by nonprofits and municipalities are also eligible, including community centers and houses of worship. Loans can be for new construction or existing buildings.

The Navigator Pre-Development Loan has a maximum loan amount of $2,000,000 and a minimum of $50,000. IPC may consider higher or lower loan amounts; contact IPC at Info@Inclusiveteam.org for details.

The interest rate for Navigator will vary based on property affordability and green building targets. Contact IPC for more details. The Navigator Loan carries a 2% closing fee, which may be included in the loan amount. The standard term is 24 months, with repayment of all principal and interest due at the end of that period or upon project funding, whichever is sooner.

Preferred rates are available for:

1. Projects that seek Green Building Certifications (such as Energy Star, LEED, or Passive House) or other similar standards that promote sustainable, healthy, and resilient buildings.
2. Affordable multifamily properties that serve low and moderate-income residents, including naturally occurring affordable housing (NOAH).
3. Projects that utilize additional IPC loan programs (such as Catalyst or Solar PPA) to finance construction or implementation costs, or both.

The Navigator application is a simple, two-step process:

1. To get started, submit contact information along with basic financial information and project details online.
2. If IPC staff determines the project is eligible based on review of the intake materials, you will be invited to submit a full program application.

Your pre-development project team must include at least one independent qualified energy consultant or design professional. This professional should either have a nationally recognized license or certification such as LEED-BD+C, CPHC, RESNET Rater, or be a professional architect or engineer with at least three years of demonstrated relevant experience. If you have questions about contractors and vendors, please contact a Navigator Loan officer.

The Navigator Loan can fund up to 80% of eligible predevelopment costs.

The standard term is 24 months, with repayment of all principal and interest due at the end of that period or upon project funding, whichever is sooner. IPC approves interest rate reduction incentives once green building and affordability targets are verified.

Yes. IPC’s Catalyst Loan finances energy and resiliency improvements in multifamily, nonprofit, and municipal buildings. Catalyst Loans provide construction and term financing to decarbonize buildings, improve health, safety, and economics, and comply with local building energy-efficiency requirements. The Catalyst Term Loan is underwritten based on projected operating cost savings from the installation of the proposed improvements and the project’s overall financial strength.

If you have any questions about the application process or terms of the Navigator Pre-Development Loan, please contact IPC at Info@Inclusiveteam.org.