High Performance Building Program (HPB)January 2, 2015
The High Performance Building Program (HPB) provides financial assistance in the forms of grants and loan funds to underwrite the cost premiums associated with the design and construction or major renovation of high performance buildings in the state. The program is administered jointly by the Department of Community and Economic Development (DCED) and the Department of Environmental Protection (DEP) under the direction of CFA.
Activities to assist with the construction or renovation associated with a high performance building.
Loans: Loans for high performance building projects for small businesses shall not exceed $2 million. Loans for individual residence projects shall not exceed $100,000.
Grants: Grants for high performance building projects shall not exceed $500,000 or 10% of the total eligible building construction/renovation costs, whichever is less.
Guarantees: Grants shall not exceed $2 million for a small business and $100,000 for an individual and have a term of not more than five years. The grants funds may only be drawn upon in the event the grant recipient defaults on its financing and there is a deficiency in collateral for the lending institution to collect upon.
A small business or an individual.
There is a matching investment requirement of at least $1 for every $1 of program funds awarded. There is a $100 non-refundable application fee due at the time of submission made payable to the CFA. There is a 1% commitment fee on all approved loans.