TBL Fund Success Stories:

Seven 65 Lofts HVAC Upgrade

De Anza Properties, Salt Lake City, UT


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100% Financed through TBL Fund

This 16 building, 128-unit property built in 1985 was ready for upgrades to a more energy efficient HVAC system. TBL Fund was able to provide 100% financing for this $709,193 renovation project with a 5-year Fixed Rate loan. ICAST will be providing renovation services for this project.

Problem

  • Property is 20+ years old and requires replacement of resistance furnaces with new efficient HVAC units
  • Community owner wanted to implement energy efficent upgrades
  • Projects were too small to interest mainstream institutions

Solution

  • Three De Anza properties signed up for funding through TBL Fund
  • Replacement of Heat Pumps and Carrier Pumps will be provided by ICAST

Financing

  • $709,193 loan
  • Traditional 5-year loan with 100% financing through TBL Fund

Results

Social Impact


  • Improved health and safety for approximately 70 low-income households
  • Local Job Creation and Workforce Development

Economic Impact


  • Increased affordability of Housing
    • Lifetime utility cost savings of $1,273,533

Environmental Impact


  • 1,345,892 lbs of Carbon Emissions reduced over a lifetime
  • 731,544 kWh annual savings
  • Equivalent to 15,657 Annual Trees planted< /li>