• Slide background

Building Safer Communities Together

Financing the Future of Energy Efficiency and Seismic safety

 

 

100% Retrofit Financing

CounterpointeSRE offers 100% financing of your energy and seismic retrofit with fixed interest rates for up to 30 years and no balloon payment. 

 

 

Retrofit using an Assessment

Program financing is a non ad-valorem tax assessment which is levied on your property and repaid with your regular property tax bill.

 

 

Engineering Cost Coverage

Counterpointe Sustainable Real Estate can finance all soft costs including inspections, permits, design, and engineering costs.

 

 

Transferable to New Owner

Property owners are not required to prepay their PACE assessment when selling their property or refinancing a loan or mortgage. 

 

City of Los Angeles

Los Angeles Regulations Concerning Potentially Hazardous Buildings Containing Soft, Weak or Open Front Stories

The City of Los Angeles requires owners of soft, weak, or open front (SWOF) buildings with 3 or more dwelling units to retrofit their buildings per Los Angeles Municipal Code Chapters 9 and 15. Owners have 1 year to submit structual analysis and plans, 2 years to obtain permits, and 7 years to complete construction. The law took effect October 9, 2015 and applies to buildings constructed prior to 1978.  SWOF building owners must also notify their tenants of the building's potentially hazardous condition.

Buildings Effected by the Ordinance

  • Wood frame construction (Type V)
  • Application of permit for original construction prior to 1/1/1978
  • Three or more residential units
  • Two or more stories over a basement or underfloor area
  • Building has not been seismically strengthened to the standards 

The property owner must submit proof of previous retrofit or comply with the ordinance within the following time limits from the start date of sending out orders:

1. Submit plans to retrofit or demolish: 2 Years

2. Obtain permit to start construction of demolition: 3 Years

3. Complete Construction: 7 Years

 


 



 

 

 

 

 

 

Enhance. Comply. Protect.

 

That's Not just thinking big...It's Seismic thinking TM


 

 

 

 

Counterpointe Sustainable Real Estate Helps Property Owners Invest in Their Future 

Not Just a Safer Building 

A Greener Building 

From solar panels to HVAC, there are thousands of eligible improvements you can make to your property. Counterpointe Sustainable Real Estate financing can cover energy efficiency, water conservation and risk mitigation improvements. Take this opportunity to find ways to not only improve property safety, but also to lower energy costs and to increase the value of your property. 

 

Finance Your Improvements In 4 Easy Steps

Step 1: Apply



 

Apply for the Seismic Retrofit Program

 Property Owners qualify for the Program based on the equity in the property and certain underwriting criteria 
  • Start by completing a short form via our website application.
  • Once application is accepted, you will be able to create a web account.
  • The web account includes information about the Program, Registered Professionals in your area and resources such as guides and other eligible water conservation or energy efficiency improvements.
Step 2: Financial Approval

Once you are prequalified, continue your application.

  • Upload required documents for underwriting via your web account.
  • Receive Financial Approval up to Maximum Assessment Amount.
  • Select your Engineer or Contractor from our list of eligible Registered Professionals or ask your professional to apply to our Program.
  • Financing is subject to financial and technical approvals and to entering into an assessment contract which will set forth the interest rate and other terms and conditions.
 
Step 3: Technical Approval

 

Final approval of your application is subject to technical approval of your proposed project. 

  • Develop the retrofit plan and submit to building department for approval 
  • Submit your engineer's plans for an earthquake sensitivity analysis (SEL report). 
  • Your contractor's proposal are submitted to CounterpointeSRE for PACE technical approval.
  • Make arrangement with our Program to close your assessment and arrange payment schedule.

 

Step 4: Construction and Payments

 

Begin your Seismic Retrofit 

  • The Program can provide Progress Payments to your Registered Professionals and reimburse you for your expenses. 
  • Soft Costs of construction can be included in your financing: permits, inspections, design, financing costs, plans, etc.
  • A final Assessment amount will be recorded at the Tax Collectors office.
  • You will receive an addtional line item on your regular property tax bill from the city for the  Assessment payment. Payments are only made through your property tax bill.
  • Assessment can transfer to new owner should you sell the property.

For more information, see the FAQ section under Our Programs

More information can be found in FAQ section here