Nate Taylor
Username
Nate Taylor
Proposer First Name
Nate
Proposer Email
nate@sturnerinc.com
Proposer Last Name
Taylor
Boston 2021 Areas of Focus
Proposer Company/Organization
Stephen Turner Inc.
Proposer Phone
(401) 441-1393
Proposer Job Title
Project Manager
Proposer Additional Info
This proposal is submitted in our capacity as technical consultants to the Connecticut Green Bank.
Proposed Session Description
Would you like to attract or deploy more funding for building energy improvements? Do gatekeepers scoff at your requests and ask for “more data”? What if your data could clearly show the value unlocked by energy upgrades? Take an in-depth, hands-on look at how two mission driven lenders, the Connecticut Green Bank, a quasi-public state agency, and Capital for Change, a Community Development Financial Institution (CDFI), developed performance monitoring reports for a set of energy loans to multifamily properties. The data demonstrates how smart energy improvements result in significant energy and operating cost savings that can fund other building improvements or be used for other purposes. The presentation and audience exercises will examine key decision points from the report development process, procedures for portfolio analysis, and the marketing strategies resulting from the work to date.
This session is aimed at capital providers and portfolio managers who want to make sure they are investing wisely; owners and advocates seeking creative ways to improve the efficiency, comfort, safety, and resiliency of their properties; and policy makers and public officials needing to leverage scarce public dollars into effective programs.
Diversity and Inclusiveness
With respect to the reporting work, the development team was at least 50% female, was led by a woman, and heavily involved young professionals from all the stakeholder organizations.
With respect to the intended use of the work, the loans being reported on were made to low/moderate income properties, as both CGB and C4C include social lending as a major part of their mission. The LIME program that we are reporting on is intended to reduce the energy burden on and improve the standard of living for low and moderate income Connecticut residents, who are disproportionately people of color.
Eventually, by using these reports to refine underwriting standards and prove the effectiveness of the loan program, the breakeven point for a project to pursue funding will move in favor of properties with greater needs but lesser means, and more dollars will flow to this underserved population.
Learning Objectives
What data to collect to report on utility and financial performance, and why
How to evaluate options at key decision points during monitoring set-up
How to use completed reports to improve future underwriting
Why energy underwriting is market-ready
Has this session been presented before?
No
Additional Comments
Lessons learned from the development process have been presented to internal stakeholder groups, but the audience exercises and some additional content will be novel.
Target Audiences Level of Expertise
Level 1 - No prior knowledge needed.
Session Format Details
The presentation slides will be broken into three chunks of approximately 15 minutes, covering a major topic area (developing the reports, evaluating the data, and marketing the program). Each chunk will be followed by an approximately 10-minute individual or small group exercise related to the topic covered in the slides. The session will conclude with open Q&A.
Recommended Length
90-minute session
Strongest Content Connection - Boston 2021
Comments about your speaker roster
Nate and Brian were key contributors to the development process, and currently manage the ongoing data collection and report production. Prior to starting Emerald, Brian helped start the LIME program whose portfolio forms the basis for this work.
Reviewer 1
Nugent, Julia
Reviewer 2
Nugent, Julia
Curator
Nugent, Julia
Proposal #
170
Session #
714
Committee Decision
Accepted
Presenters
Full Description
Question 1: Why lend based on energy savings?
Financial institutions are reluctant to underwrite loans, and owners are reluctant to borrow, on the basis of energy savings. Although similar products to the one showcased in the presentation have been on the market for about 15 years, we continue to encounter trepidation when we approach potential lenders and borrowers. So we set out to improve our sales pitch by proving that these loans can work.
Question 2: Why format your reporting this way?
Along the way, we learned a great deal about the obstacles and pitfalls that face energy loan reporting. By sharing our reasoning behind key choices in presentation and data collection, we hope to save others from stubbing their toes in the same places.