Success Stories
Sun River HVAC Upgrade
De Anza Properties, Salt Lake City, UT
100% Financed through TBL Fund
This 19 building, 70-unit property built in 1987 was ready for upgrades to a more energy efficient HVAC system. TBL Fund was able to provide 100% financing for this $402,604 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, Thermostats, Roof Repairs, and upgraded 220 Breaker will be provided by ICAST
Financing
- $402,604.98 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 $913,834
Environmental Impact
- 965,756lbs of Carbon Emissions reduced over a lifetime
- 524,926 kWh annual savings
- Equivelant to 11,235 Annual Trees planted