COUNTERPOINTE SUSTAINABLE REAL ESTATE
Building Safer Communities
Financing the Future of Energy Efficiency and Seismic safety
Seismic Retrofits - Regulations for Potentially Hazardous Buildings Containing Soft, Weak or Open Front Stories
In order to protect tenants in multifamly dwellings, many California communities require owners of soft, weak, or open front (SWOF) buildings to retrofit their buildings. Owners have only a few years to submit structual analysis and plans, obtain permits, and complete construction.
Counterpointe Sustainable Real Estate Can Help Finance Your Seismic Retrofit 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 about PACE and other eligible 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.
More information can be found in FAQ section here
Enhance. Comply. Protect.
That's Not just thinking big...It's Seismic thinking TM