Frankston City Council lends a hand to businesses and the environment

If you are commercial building owner and want to make environmental upgrades but don’t want to pay upfront costs, we have the answer.

Frankston City Council has just signed up to a partnership with Sustainable Australia’s Better Building Finance to provide loans for businesses keen to make environmental upgrades.

Whether it’s solar panels on the roof, replacing appliances, or finding ways to improve building insulation, the Environmental Upgrade Finance loan can help your business save money and reduce emissions.

A lender provides the upfront capital for the works, which the business then repays through the council rates system over periods of up to 20 years. While the loan is repaid quarterly via Council rates, the upgrades can provide positive cash flows where the savings exceed the repayments. How handy is that?

We join more than 40 existing council partners in Victoria after the program received support from the Australian Renewable Energy Agency (ARENA).

To date, Better Building Finance has worked with local councils to facilitate more than 100 environmental upgrade projects at an investment of more than $40 million, generating almost 10,000kW of solar power, which will reduce carbon emissions by around 500k tonnes over the life of the projects.

Better Building Finance Executive Manager Ed Cotter welcomed Frankston Council to the program.

“We’re really excited to welcome Frankston Council to our program to make buildings better. With the success we’ve had over the past few years, we know that this program can have a huge impact in supporting local businesses and helping councils deliver on their economic development and sustainability goals,” Mr Cotter said.

Frankston Mayor Kris Bolam said it was a win for commercial landlords, tenants and Council.

“If we can deliver a loan to help businesses move faster toward better environmental outcomes, then we are all for it,” Mr Bolam said.

“This loan will allow for significant changes and upgrades within Frankston City buildings to take place quicker, which means more savings with cheaper energy and more benefits to our environment.

This program is a fantastic initiative for our environment and for our businesses, with massive savings potential for both landlords and tenants, which is why we were happy to jump on board and deliver it.” For more information or to apply visit: https://www.frankston.vic.gov.au/Business/Business-Support-and-Resources/Environmental-Upgrade-Finance-Program

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