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Transmittal - 11/24/2021SALT LAKE CITY CORPORATION 451 SOUTH STATE STREET, ROOM 118 WWW.SLC.GOV · WWW.SLCRDA.COM P.O. BOX 145518, SALT LAKE CITY, UTAH 84114-5518 TEL 801-535-7240 · FAX 801-535-7245 MAYOR ERIN MENDENHALL Executive Director DANNY WALZ Director REDEVELOPMENT AGENCY of SALT LAKE CITY DATE: November 24, 2021 PREPARED BY: Lauren Parisi and Cara Lindsley, RDA Project Managers RE: RDA Sustainable Development Policy REQUESTED ACTION: Consider Approval of Resolution to Adopt the RDA’s Sustainable Development Policy POLICY ITEM: Sustainability – Citywide RDA-Funded Projects BUDGET IMPACTS: N/A EXECUTIVE SUMMARY: The Redevelopment Agency of Salt Lake City (“RDA”) recognizes the great impact development has on local air quality and is currently working on a sustainable development policy to promote smarter, more sustainable growth across the city. Since the policy was presented to the RDA Board in early October (see Attachment C for October report), updates have been made to the policy to address comments from the Board as well as the Redevelopment Advisory Committee (RAC). Agency staff presented the most- updated sustainable development policy to the RAC at their November meeting. The RAC had no questions and unanimously voted to forward on a positive recommendation of this policy to the RDA Board. This memo will review the proposed updates to the policy including: •Reducing the dollar amount that triggers “Threshold” sustainability requirements •Providing flexibility for loan interest rate reductions •Noncompliance Regulations The updated sustainable development policy is provided as Attachment A for the Board’s review and potential adoption. ANALYSIS: Policy Updates – A few reoccurring comments have been addressed in the updated policy document and described in greater detail below. 1.Threshold Dollar Amount. At their October meeting, the RDA Board expressed interest in reducing the dollar amount of RDA funding that would trigger compliance with the first Threshold Requirement to earn a “Designed to Earn Energy Star” score of at least 90 and participate in the City Sustainability Department’s Elevate Buildings programs. Staff initially set this trigger to $400,000 to exclude smaller, potentially urgent gap financing requests for rehab projects that have an inherent level of sustainability because they preserve an existing structure. To capture even more RDA projects while still allowing flexibility for smaller adaptive reuse loans, the 2 first Threshold Requirement has been updated to apply to all projects receiving over $200,000 from the RDA. It should be noted that all new construction projects must meet the Threshold Requirements, regardless of the amount of RDA funding. The updated requirement would not apply to projects participating in the Granary District’s Adaptive Reuse Program that offers forgivable loans up to $200,000. Obtaining an ENERGY STAR score typically requires that an energy model be completed. This additional expense could deter an applicant from applying for a smaller amount of RDA funding and result in fewer RDA-supported adaptive reuse projects. Still, the RDA will work to encourage energy efficiency in all projects by highlighting other energy incentive programs that are available for small businesses, including: •Rocky Mountain Power: WattSmart Incentives & Programs for Businesses provides incentives for typical energy upgrades to equipment such as lighting, HVAC, compressed air and more. In addition, this program offers assistance on energy analysis, project manager co-funding, and other in-depth energy management tools. Local business Red Iguana received $3,785 from the WattSmart program to upgrade to more efficient LED lighting in their restaurants. This lowered their annual energy bill by $1,300 a year. Rocky Mountain’s current LED lighting incentive will pay for 75% of a lighting upgrade project, up to $4,000 total. •Commercial Property Assessed Clean Energy (C-PACE) helps property owners access private financing to install energy efficient building improvements and increase the value of their property. Because the long-term financing can cover up to 100% of a building’s modernization project cost and often requires no money down, C-PACE may enable property owners to make substantial upgrades to their buildings. The project’s energy savings may outweigh the C-PACE payments, creating positive cash flow for the property owner whose upgraded building may be more valuable after a C-PACE project. Salt Lake City’s convention center hotel received $54.7 million in C-PACE financing to cover improvements such as heating and cooling systems, interior lighting and equipment, fans, heat rejection, pumps, and water systems. As a result, the hotel's energy performance is projected to exceed the energy code compliance level by over 20 percent. Smaller commercial projects can apply for this funding as well. •Energy Efficient Tax Deductions of up to $1.80 per square foot are available to owners or designers of commercial buildings or systems that demonstrate a 50% reduction in energy usage accomplished solely through improvements to the heating, cooling, ventilation, hot water, and interior lighting systems. Partial deductions of up to $.60 per square foot can be taken for qualifying measures. •A list of additional energy incentive programs available in Utah can be found HERE. 2.Interest Rate Reductions. Both the Board and the RAC have asked staff if the proposed interest rate reductions are sufficient to incentivize net zero projects. Reviewing hypothetical RDA projects, a 1%- 3 2% additional interest rate reduction could provide significant cost savings for both small and large loans as detailed in Attachment B. While there are premiums to participating in utility tariff programs to meet off-site net zero standards, these costs should be partially offset by the energy efficiency of the building. Rocky Mountain Power indicates that their Subscriber Solar program could potentially reduce electric bills for some customers during the summer when solar block rates are less expensive. There may also be a premium to installing on-site renewables such as solar. These costs vary from project to project; however, there are existing incentives and energy rebates as discussed earlier to help with these initial costs. In addition, reduced monthly energy costs could increase a project’s net operating income, resulting in a higher debt coverage ratio and more favorable terms for the project’s primary loan. For the case that the policy’s standard interest rate reductions do not provide enough savings for a project to be feasible, language has been added to the policy that allows the RDA to consider additional reductions down to a minimum interest rate of 1%. This language aligns with the RDA’s Housing Development Loan Program, which states: Projects are eligible for one sustainability-related interest rate reduction, with the ability to reduce the interest rate to a minimum of 1%. Interest rates are subject to an adjustment, of up to a 1% deviation, based on project cash flow and debt coverage ratio calculated at time of application and underwriting. To note, existing RDA loans will not be able to apply for this interest rate reduction retroactively. Noncompliant Projects. A project’s energy model and building plans should confirm that the building meets all applicable policy standards before it is built. Still, modifications can be made throughout the construction process, especially if a certain building element is not required for life safety reasons. There are many issues that could arise during construction that weren’t anticipated during planning. For example, certain energy efficient appliances may get swapped out for others with different specs or a project may not be to accommodate as much on-site solar as originally planned. The policy previously dictated that projects had two years to achieve an ENERGY STAR score within 5 points of projected score and two and a half years to come into compliance with all other sustainability requirements. The policy has since been updated to remove the latter time limitation of two and a half years as terms of default will be detailed in all RDA agreements. However, because ENERGY STAR requires at least a year’s worth of operational data to submit into the program, additional time has been allocated for projects to achieve their projected score. Additional Information – 1.Solar on Covered Parking. The RDA Board asked how this policy promotes the use of solar panels on covered parking structures. The “On-Site Net Zero” requirement can be met by installing solar panels on covered parking structures. Free standing solar structures could also be utilized. There are no real limitations as to how the on-site requirement must be met in terms of the type of renewables or where they are installed. However, projects must supply at least 50% of their annual energy needs with 4 renewables, or, install renewable infrastructure equivalent to the square footage half of the project’s roof space on site. 2.Cooperation with Rocky Mountain Power. Agency staff met with representatives from Rocky Mountain Power (RMP) to discuss the proposed Sustainable Development Policy and its potential impact on RMP’s infrastructure. RAC members and industry professionals expressed concern that there may not be sufficient infrastructure in place to support all-electric buildings. RMP indicated that this policy should not overburden their infrastructure’s capacity as there is not a large difference between supplying energy to traditional buildings vs. all-electric buildings. RMP did indicate that developers should connect with them early in the development process before a building permit is issued. If a project has a large cumulative electrical load, a system impact study may be required that can take 30-45 days to complete. RMP is also in the process of drafting equipment room design standards to help developers plan for infrastructure space needs on a given site. In addition to reviewing individual project needs, RMP goes through a new infrastructure planning process at least once a year. They indicated it would be helpful if the City informs them of areas in the city where dense development is planned. 3.Redevelopment Advisory Committee Recommendation. Agency staff presented the most-updated sustainable development policy to the RAC at their November meeting. The RAC had no questions and unanimously voted to forward on a positive recommendation of this policy to the RDA Board. Next Steps – If adopted, the Threshold Requirements must be met by all projects that submit an application to the RDA after the policy’s adoption that anticipate receiving a building permit on or after January 1, 2023. This may accommodate some emergency loan requests submitted in 2022 that do not meet the requirements and allows time for the RDA to publicize the new requirements. The Program-Specific Sustainability Measures will become effective immediately. PREVIOUS BOARD ACTION: Reviewed policy draft at October 12th, 2021 Board meeting. Attachments: •Attachment A: RDA Board Resolution/Sustainable Development Policy •Attachment B: Sustainability Interest Rate Reduction Scenarios •Attachment C: October Board Memo 1 REDEVELOPMENT AGENCY OF SALT LAKE CITY RESOLUTION NO. _____________ Sustainable Development Policy RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY ADOPTING A SUSTAINABLE DEVELOPMENT POLICY WHEREAS, Salt Lake City adopted a joint resolution establishing renewable energy and carbon emission reduction goals for Salt Lake City (“Joint Resolution”). The Joint Resolution details the negative effects of climate change and commits to the reduction of community greenhouse gas emissions by at least 50% by 2030 and at least 80% by 2040 relative to the 2009 community emissions baseline (“Sustainability Goals”). WHEREAS, the Redevelopment Agency of Salt Lake City (“RDA”) recognizes the great impact development has on increased greenhouse gas emissions and local air quality. WHEREAS, in an effort to reduce emissions and help achieve the Salt Lake City’s Sustainability Goals, the Board of Directors of the Redevelopment Agency of Salt Lake City (“Board”) desires to formalize a policy to promote environmentally sustainable development projects. WHEREAS, this Sustainable Development Policy is intended to modify existing RDA policies including the Loan Program Policy, the Tax Increment Reimbursement Program Policy, and the Real Property Disposition Policy. NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Redevelopment Agency of Salt Lake City shall adopt the following Sustainable Development Policy: 1.PURPOSE The purpose of the RDA Sustainable Development Policy is to promote a built environment that incorporates sustainable building practices and technologies to reduce building-related greenhouse gas emissions, improve local air quality, preserve natural resources and enhance community resiliency. As detailed below, certain RDA projects must meet the Threshold Requirements (as detailed in Section 3) as well as the applicable Program-Specific Sustainability Measures (as detailed in Section 4). 2.APPLICATION OF POLICY The Threshold Requirements must be met by all projects that submit an application to the RDA after the adoption of this policy that anticipate receiving a building permit on or after January 1, 2023. Projects receiving a loan that meet the Threshold Requirements and obtain a building permit before January 1, 2023 shall be eligible to earn a 1% interest rate reduction. The Program-Specific Sustainability Measures (requirements and incentives that include meeting Threshold Requirements) shall be effective immediately. Attachment A: RDA Board Resolution/Sustainable Development Policy 2 3. THRESHOLD REQUIREMENTS The Threshold Requirements are as follows: a. Enhanced Energy Performance - All new construction building projects (including site acquisition) and building projects that receive, or are anticipated to receive, two hundred thousand dollars ($200,000) or more in RDA funding shall be designed to achieve a “Designed to Earn ENERGY STAR” score of 90 or higher or a Design Target Site Energy Use Intensity (EUI) value corresponding with such a score that is generated by the Designed to Earn ENERGY STAR tool and participate in the City Sustainability Department’s Elevate Buildings Program. The EUI target shall be based on the Designed to Earn ENERGY STAR tool or comparable source.1 b. Emission-Free Building Operation - In addition to meeting the Threshold Requirement for enhanced energy performance, all new construction building projects (including site acquisition) and building projects that receive, or are anticipated to receive, nine hundred thousand dollars ($900,000) or more in RDA funding shall also be designed to operate without on-site fossil fuel combustion (i.e., propane, natural gas).2 4. PROGRAM-SPECIFIC SUSTAINABILITY MEASURES In addition to the Threshold Requirements, Program-Specific Sustainability Measures are required or incentivized as determined by the applicable program type listed in Table 1. If an RDA program type is not listed, no further sustainability measures will be required beyond the Threshold Requirements. TABLE 1: Program-Specific Sustainability Measures Program Type Sustainability Measures – Requirement or Incentive as Indicated Tax Increment Reimbursement Program (TIR) over $500,000 • On-Site Net Zero building status is required Land Dispositions • Off-Site Net Zero is required • On-Site Net Zero will receive higher rankings for competitively marketed projects RDA Loan Programs – applicable to any RDA loan* • Off-Site Net Zero will be eligible to receive interest rate reduction of 1% • On-Site Net Zero will be eligible to receive interest rate reduction of 2% * Projects are eligible for one sustainability-related interest rate reduction, with the ability to reduce the 1See ‘Designed to Earn ENERGY STAR’ program: https://www.energystar.gov/buildings/resources_topic/commercial_new_construction/achieve_designed_earn_e nergy_star 2 Projects may utilize the All-Electric provisions of the New Building Institute’s Building Decarbonization Code or comparable standard. See: https://newbuildings.org/resource/building-decarbonization-code/ 3 interest rate to a minimum of 1%. Interest rates are subject to an adjustment, of up to a 1% deviation, based on project cash flow and debt coverage ratio calculated at time of application and underwriting. a. Net Zero Building Standards – Projects must meet the 2021 IECC Zero Energy Appendix standards or obtain a third-party certification to achieve Off-Site or On-Site Net Zero status. Examples of code-based and third-party certifications for net zero buildings are included in Table 2. Alternative code-based or third-party certifications not listed in Table 2 will be considered by RDA staff on a case-by-case basis. i. Off-Site Net Zero – To be eligible to purchase RDA-controlled property or receive an RDA loan sustainability-related interest rate reduction, projects must meet the Threshold Requirements and source 100% of the project’s total estimated annual electricity consumption by participating in a utility-sponsored renewable electricity program/tariff such as the Blue Sky or Subscriber Solar programs. ii. On-Site Net Zero – To be eligible to receive the benefits of a TIR, purchase RDA-controlled property, or receive an RDA loan sustainability-related interest rate reduction, projects must meet the Threshold Requirements and supply 100% of the building’s electricity needs with renewable energy. Renewable energy must include on-site renewable energy that: 1) Supplies at least 50% of the project’s total estimated annual electricity consumption (measured as kWh/year); or, 2) Utilizes at least 50% of the project’s available roof space for on-site renewable energy generation.3 Any remaining renewable energy generation that can’t be accommodated on site must be procured through off-site renewable energy generation, including utility-sponsored renewable electricity programs or tariffs. 3 “Available roof space” means roof spaces that are flat or face South, East, or West, are not shaded by trees or structures, or not obstructed by building architectural features. This requirement can be met through installation of an equivalently size solar array on another structure on the property (carport, ground mount, etc.). Roof space is exempt from being considered part of the “available roof space” if it is so shaded that solar panels would produce less than 70% of th e energy they would generate without shading. For example, if 20% of a project’s roof is so shaded that solar panels would generate less than 70% of their intended output, then a project can still meet the requirement by installing solar on half of the other 80% that is suitable for solar, i.e. 40% of the roof total. 4 TABLE 2: Examples of Code-Based or Third-Party Certifications for Net Zero Buildings CODE COMPLIANCE/ CERTIFICATION OPTIONS OFF-SITE NET ZERO ON-SITE NET ZERO BUILDING TYPE INTENT Code-Based Pathway to meet Net Zero Building Standards 2021 IECC Appendix CC Zero Energy Commercial Building Provisions (LINK) Meets required EUI targets and 100% of renewable electricity is supplied by offsite sources approved in the 2021 IECC Appendix CC. Meets required EUI targets and includes as much onsite solar as defined in Section 4(a)(ii), with the remaining renewable electricity supplied by offsite sources approved in the 2021 IECC Appendix CC. Any building subject to the IECC Commercial provision (generally 4+ stories). This is a code-based performance approach to achieving net zero energy in a project that is determined through compliance with the Zero Energy Commercial code language rather than a third-party certification. Third-Party Certification Pathways to meet Net Zero Building Standards Passive House (LINK) Passive House with 100% offsite renewable energy. Passive House with as much onsite solar as defined in Section 4(a)(ii), with the remaining renewable electricity supplied by offsite sources approved in the 2021 IECC Appendix CC. Any building type. This approach adds a renewable energy requirement to a project that uses Passive House strategies for ultra-low energy use. Enterprise Green Communities Certification Plus 2020 (LINK) EGC Standards 5.4 (Zero Energy) with offsite and 5.5b (Zero Carbon). EGC Standards 5.4 (Zero Energy) and 5.5b (Zero Carbon). Projects must include as much onsite solar as defined in Section 4(a)(ii), with the remaining renewable electricity supplied by offsite sources approved Any affordable housing project. Enterprise Green Communities is a state- and nationally- recognized affordable housing sustainability certification. The 2020 criteria awards increased points for projects that achieve energy-related innovations, including Zero Energy status (100% on or off-site) and Zero Carbon status 5 in the 2021 IECC Appendix CC. (all-electric). Enterprise Green Communities is recognized in the Utah Housing Corporation’s Qualified Allocation Plan for Low Income Housing Tax Credits. U.S. Green Building Council LEED Zero (LINK) LEED Zero Energy certification (building with 100% of source energy supplied or offset with renewable energy over 12-month period (LEED Zero Carbon also qualifies). LEED Zero Energy certification (building with 100% of source energy supplied or offset with renewable energy over 12-month period – with at least 50% of renewable energy being located on- site) (LEED Zero Carbon also qualifies). Any building with LEED New Construction (NC) or Existing Buildings (EB) certification, or seeking these certifications. This approach utilizes the U.S. Green Building Council’s LEED Zero program for projects already certified as LEED or seeking LEED certification. International Living Future Institute N/A Zero Energy certification. (LINK) Any building type. This standard requires the elimination of on- site combustion and 100% on-site renewable energy. Zero Carbon certification. (LINK) Any building type. This standard allows off-site renewable energy in certain situations. 6 5. COMPLIANCE All projects must verify compliance with Threshold Requirements and Program- Specific Sustainability Measures as follows: a. Threshold Requirements i. Enhanced Energy Performance – A Statement of Energy Design Intent (SEDI)4 verifying that the project has been designed to meet a Designed to Earn ENERGY STAR target of 90 or higher or a corresponding EUI target must be submitted to the RDA. A year after the building has received a certificate of occupancy (C of O), the project must submit building operations data on an annual basis to the RDA and the City’s Sustainability Department similar to the benchmark reporting requirements in the City Sustainability Department’s Elevate Buildings Program5. If the project does not meet an ENERGY STAR score within five (5) points of what was originally projected within two (2) years of receiving C of O, building updates will be required aimed at achieving the target score. ii. Emission-Free Building Operation – A letter from a licensed architect or engineer verifying that the project has been designed and constructed without on-site fossil fuel combustion and describing the energy system(s) utilized must be submitted to the RDA. b. Program-Specific Sustainability Measures i. Net Zero Building Standards – Projects must meet the 2021 IECC Zero Energy Appendix standards (verified in a letter by a licensed architect or engineer) or obtain a third-party certification to submit to the RDA as indicated within Table 2. Where certifications are not issued until after the building has been put into service, a letter from a licensed architect or engineer verifying that the building has been designed to meet certification standards and noting the anticipated certification date must be submitted to the RDA. The completed certification checklist must also be attached to the letter. 4 An ENERGY STAR Statement of Energy Design Intent (SEDI) document includes the Design Target ENERGY STAR Score and the Design Target Site EUI. Energy modeling will be necessary to estimate the annual energy consumption of a building, which is required to input into the ENERGY STAR Portfolio Manager and complete the SEDI. An example SEDI document can be accessed here: https://www.energystar.gov/sites/default/files/tools/SEDI_Sample%281%29.pdf?f4b0-a781 5 See ‘Elevate Buildings’ Program: https://www.slc.gov/sustainability/elevate-buildings/ 7 ii. Off-Site Net Zero – An energy bill verifying participation in an available renewable energy utility tariff program must be submitted to the RDA within three (3) months of receiving a C of O. iii. On-Site Net Zero – A letter from a certified renewable energy system designer illustrating that the project meets at least one of the On-Site Net Zero renewable energy generation requirements (from 4(a)(ii)) must be submitted for RDA approval. c. Noncompliance – Projects that are not in compliance with applicable Threshold Requirements and Project-Specific Sustainability Measures may either be in default, be required to repay the RDA incentive that was granted, or provide any other remedy as detailed in the specific terms of the agreement between the RDA and the beneficiary (including, but not limited to, damages). 6. EXCEPTIONS The RDA Board of Directors, by a majority vote of those present, may waive requirements or make exceptions to the foregoing criteria and procedures with a finding that the RDA’s mission and values will be furthered by such waiver or exception. RDA staff will prepare a written recommendation and statement regarding the waiver or exception. The statement will be placed in the project file. 8 Passed by the Board of Directors of the Redevelopment Agency of Salt Lake City, this _______ day of ________________, 202 . ________________________________ Ana Valdemoros, Chair Approved as to form: __________________________________ Salt Lake City Attorney’s Office Allison Parks Date:____________________________ The Executive Director: ____ does not request reconsideration ____ requests reconsideration at the next regular Agency meeting. ________________________________ Erin Mendenhall, Executive Director Attest: ________________________ City Recorder 11/22/2021 5 Attachment B: Sustainability Interest Rate Reduction Scenarios The following scenarios illustrate the amount of interest a project could save over the life of an RDA loan by implementing off-site and on-site net zero sustainability measures. These projections are approximate. 1.Hotel Project: a.Total loan amount – $7,000,000 b.Loan terms – 12-year term; 20-year amortization; 2.39% interest 2.Local Distillery Project: a.Total loan amount – $850,000 b.Loan terms – 10-year term; 20-year amortization; 2.87% interest 3.Community Garden Project: a.Total loan amount – $250,000 b.Loan terms – 30-year term; cash flow loan; 2.5% interest *Assumes savings are applied as cash flow payments to the RDA. Original Loan (2.39%) Off-Site Net Zero (-1% =1.39%) On-Site Net Zero (-2% = lowest 1%) Total Interest Paid ($) $1,476,236 $842,878 $601,828 Savings ($) n/a $633,358 $874,408 Original Loan (2.87%) Off-Site Net Zero (-1% =1.87%) On-Site Net Zero (-2% = lowest 1%) Total Interest Paid ($) $191,927 $123,244 $65,012 Savings ($) n/a $68,683 $125,915 Original Loan (2.5%) Off-Site Net Zero (-1% =1.5%) On-Site Net Zero (-2% = lowest 1%) Total Interest Paid ($) $100,233 $49,885 $30,642 Savings ($) n/a $50,348 $69,591 Loan Paid Off* 26 years 23 years 22 years 6 4. Affordable Housing Project: a. Total loan amount – $1,000,000 b. Loan terms – 30-year term; 30-year amortization; 2.25% interest Original Loan (2.25%) Off-Site Net Zero (-1% =1.25%) On-Site Net Zero (-2% = lowest 1%) Total Interest Paid ($) $371,890 $198,505 $157,149 Savings ($) n/a $173,385 $214,741 SALT LAKE CITY CORPORATION 451 SOUTH STATE STREET, ROOM 118 WWW.SLC.GOV · WWW.SLCRDA.COM P.O. BOX 145518, SALT LAKE CITY, UTAH 84114-5518 TEL 801-535-7240 · FAX 801-535-7245 MAYOR ERIN MENDENHALL Executive Director DANNY WALZ Director REDEVELOPMENT AGENCY of SALT LAKE CITY DATE: September 24, 2021 PREPARED BY: Lauren Parisi and Cara Lindsley, RDA Project Managers RE: RDA Sustainable Development Policy REQUESTED ACTION: Briefing and discussion on Agency’s draft Sustainable Development Policy POLICY ITEM: N/A BUDGET IMPACTS: N/A EXECUTIVE SUMMARY: The Redevelopment Agency of Salt Lake City (“RDA”) recognizes the great impact development has on local air quality and is working to promote smarter, more sustainable growth across the city and to become a model for the state. Under the current RDA loan program, projects that meet certain sustainable building certification standards receive a .5% interest rate reduction. However, achieving City and the RDA climate goals will require a sustainable development policy that applies to almost all RDA-funded projects. The RDA’s proposed sustainable development policy can be broken down into two categories: 1)Threshold Sustainability Measures that are required of all new-construction projects and other building projects that receive a certain level of RDA funding; and, 2)RDA Program-Specific Sustainability Measures that are either required or are used to further incentivize sustainability in projects participating in RDA loan programs, the tax increment reimbursement program and RDA land dispositions. Threshold Sustainability Measures require sustainable building design and efficient energy systems for projects receiving over $400,000 in RDA funding, and emission-free operation for projects receiving over $900,000 in RDA funding. Program-Specific Sustainability Measures require 100% of a building’s electricity to be supplied with off-site or on-site renewable energy, depending on the RDA program, and net-zero certification. The attached draft sustainable development policy is proposed for the RDA Board of Director’s (“Board”) review and initial feedback. RDA staff will incorporate the information contained herein along with feedback from the Board into a formal policy resolution for consideration at a future date. ANALYSIS: According to 2020 U.S. Census data, Utah was the fastest-growing state in the nation from 2010 to 2020, at 18.4%. Much like the State, Salt Lake City is also experiencing record growth. This growth comes at a time when our community continues to face air quality challenges and the detrimental impacts of climate change including increased temperatures, changes in water systems and extreme weather events. In Salt Lake City, electricity consumption accounts for 50.4% of greenhouse gas emissions and natural gas combustion accounts for 26.3%. (Climate Positive 2040, 2016). Both sources are primarily consumed in buildings and together account for three quarters of all greenhouse emissions within the city – much more than what is produced by the transportation sector. Electricity, and building energy in general, offer the greatest opportunity for emissions reductions (SLC Community Carbon Footprint, 2010). Attachment C: October RDA Board Memo 2 The RDA recognizes the great impact development has on local air quality and is working to promote smarter, more sustainable growth across the city and become a model for the state. Under the current RDA loan program, projects that meet certain sustainable development certification standards receive a .5% interest rate reduction; however, in order to meet both the City’s and the RDA’s climate goals, sustainable development strategies must be considered for all RDA-funded projects. Similar organizations to the RDA across the U.S. require sustainable technology to be incorporated in all government-funded projects. Thus, the attached draft sustainable development policy has been proposed for the Board’s review. City Goals – In 2016, the City passed a Mayor-Council joint resolution (updated in 2019) to achieve the following sustainability goals derived from the Climate Positive 2040 plan: 1. 100 X 2030: 100% Renewable Energy for Community Electricity Supply by 2030 2. 80 X 2040: 80% Reduction in Community Greenhouse Gas Emissions by 2040, Compared to 2009 Baseline (Goal includes at least 50% reduction in community footprint by 2030) RDA Target – Additionally, as directed by Mayor Mendenhall, the RDA will target: • Emission-Free Buildings by 2023 This means that the RDA will support the development and rehabilitation of buildings without on-site fossil fuel combustion (i.e. propane, natural gas) that receive a building permit from 2023 onwards. With these goals in mind, the overarching purpose of the RDA’s sustainable development policy, once adopted, is to promote a built environment that incorporates sustainable building practices and technologies to reduce building-related greenhouse gas emissions, improve local air quality, preserve natural resources and enhance community resiliency. Proposed Sustainable Development Policy – The RDA’s sustainable development policy can be broken down into two categories, including 1) Threshold Sustainability Measures that are required of all new construction projects and other building projects that receive a certain level of RDA funding, and 2) RDA Program-Specific Sustainability Measures that are either required or are used to further incentivize sustainability in projects participating in RDA loan programs, the tax increment reimbursement program, and RDA-owned land dispositions. To allow time for developers to meet all threshold requirements, this policy will apply to all projects receiving a building permit on or after January 1, 2023, except for projects that receive a tax increment reimbursement agreement for which this policy becomes effective immediately. Projects seeking an RDA loan that meet the Threshold Sustainability Measures before January 1, 2023, shall earn a 1% interest rate reduction. 1. Threshold Sustainability Measures: Enhanced Energy Performance – • Applicable Projects – All new construction projects and building projects that receive over $400,000 in RDA funds, no matter the RDA program. • Requirement – Projects shall be designed to achieve a “Designed to Earn ENERGY STAR” score of 90 and above or a Design Target Site EUI value corresponding with such a score that is generated by the Designed to Earn ENERGY STAR tool. Once the building is operating, 3 projects shall also participate in Salt Lake City Sustainability’s Elevate Buildings program and submit building operation data to the city on an annual basis. • Goal of Standard – This first “level” of the threshold sustainability measures has been proposed to encourage RDA-funded projects to take a step towards more sustainable building design through the incorporation of efficient energy systems (i.e. heating, cooling, lighting, appliances, insulation, etc.). An ENERGY STAR score and energy use intensity (EUI) are well-known industry metrics that applicants can calculate for free with the Portfolio Manager tool from ENERGY STAR; however, some energy modeling will be required to input into the Portfolio Manager tool. A building with an ENERGY STAR score of 75 and above indicates that it performs in the top 25% of similar building types nationwide, which some building codes require. Certain building types may not qualify for the “Designed to Earn ENERGY STAR,” which is why achieving a similar EUI target is an alternative option. The City Sustainability Department’s Elevate Buildings program will be utilized to ensure RDA projects maintain projected ENERGY STAR scores. This program is currently in place and requires all qualifying commercial buildings 25,000 square feet and larger to submit ENERGY STAR data to the city on an annual basis. Per the RDA’s proposed sustainable development policy, if the project does not meet an ENERGY STAR score within five (5) points of what was originally projected within two years of receiving a certificate of occupancy, building updates will be required aimed at achieving the target score. Emission-Free Building Operation – • Applicable Projects – All new construction projects and building projects that receive over $900,000 in RDA funds, no matter the RDA program. • Requirement – Projects shall be designed to operate without on-site fossil fuel combustion (i.e., propane, natural gas). • Goal of Standard – This second “level” of the threshold sustainability measures aims to hit the RDA’s target of supporting emission-free buildings by 2023 and achieve the City’s overarching climate goals of increasing the renewable energy supply and reducing greenhouse gas emissions. This measure would eliminate the use of natural gas in buildings for heating and cooking. Natural gas contributes to 26.3% of Salt Lake City’s greenhouse gas emissions (Climate Positive 2040, 2016). While the majority of today’s electricity supply is generated from fossil fuels, the intent of building electrification is to prepare buildings for carbon-free operation when the electricity supply is entirely powered by renewable sources such as solar, wind and geothermal energy. 2. RDA Program Specific Sustainability Measures: To be eligible for certain RDA incentive programs or to receive larger incentives, “Off-Site Renewables” or “On-Site Renewables” will be required in addition to the Threshold Sustainability Measures as follows: 4 RDA Program Sustainability Measures – Requirement or Incentive as Indicated Tax Increment Reimbursement Program – applicable to tax increment reimbursements over $500,000 • On-Site Net Zero building status is required Land Dispositions • Off-Site Net Zero is required • On-Site Net Zero will receive higher rankings for competitively marketed land dispositions RDA Loan Programs – applicable to any RDA loan • Off-Site Net Zero will receive interest rate reduction of 1% • On-Site Net Zero will receive interest rate reduction of 2% Off-Site Net Zero – Because the electrical grid is not sourced by 100% renewable energy, this measure encourages supporting or paying a premium to utilize off-site renewable sources. To meet this measure, projects must follow the 2021 IECC Zero Energy Appendix standards or obtain a qualifying certification for “off-site net zero” and participate in available renewable energy utility programs/tariffs. Energy utility programs are sometimes referred to as “green tariffs.” A green tariff is a price structure, or an electricity rate, offered by a local utility that allows eligible customers to source up to 100% of their electricity from renewable resources. Here in Utah, the Blue Sky and Subscriber Solar green tariffs are in place, but more programs are on the horizon, including Utah 100 Communities that aims to increase renewable energy infrastructure for localities to utilize. On-Site Net Zero – This measure promotes the incorporation of on-site renewable energy (such as on- site solar) in RDA projects that receive larger incentives and requires that projects follow the 2021 IECC Zero Energy Appendix standards or obtain a qualifying certification for “on-site net zero” and supply 100% of the building’s electricity with renewable energy. Renewable energy must include on- site renewable energy sufficient to: 1) Supply at least 50% of the project’s total estimated annual electricity consumption; or, 2) Utilize at least 50% of the project’s available roof space for on-site renewable energy generation. RDA staff acknowledges that some properties may not have the capacity to supply 100% on-site renewable energy due to lot constraints, lack of sunlight, etc. Thus, any remaining renewable energy generation that can't be accommodated on-site must be procured through off-site renewable energy generation, including utility-sponsored renewable electricity programs or tariffs. To support the implementation of both RDA program measures, a limited amount of funding may be made available for certification fees during the first year that this policy is in place. Compliance – To meet the Threshold Enhanced Energy Performance requirement, a Statement of Energy Design Intent shall be submitted verifying an ENERGY STAR score of 90 and above. To meet the Threshold Emission-Free Building Operation standard, a letter shall be submitted from a licensed architect or engineer verifying the absence of on-site fossil fuel combustion and detailing the proposed energy system to be utilized. 5 To meet the Off-Site and On-Site Net Zero requirements, a letter shall be submitted from a licensed architect or engineer verifying compliance with the 2021 IECC Zero Energy Appendix standards or the project must obtain one of the following third-party certifications as listed within Table 2 of the policy document: Passive House; Enterprise Green Communities; aU.S. Green Building Council LEED Zero; or International Living Future Institute. If participating in a utility program, the RDA will require that projects submit an energy bill from the utility sponsor verifying participation within three months of receiving a certificate of occupancy. Projects that are not in compliance with applicable RDA Sustainability Measures within 30 months of receiving a certificate of occupancy may either default on the RDA agreements and/or be required to pay back all or a portion of the RDA incentive that was granted. Terms of default shall be specified in associated contracts between the RDA and beneficiary. Exceptions – The RDA Board of Directors, by a majority vote of those present, may waive requirements or make exceptions to the foregoing criteria and procedures with a finding that the RDA’s mission and values will be furthered by such waiver or exception. Community Engagement – Three roundtable discussions were held with local stakeholders on May 25th and 26th. Participating stakeholders had backgrounds that included engineering, architecture, development, finance, construction management, and affordable housing. Notes and key takeaways from these meetings are provided in Attachment B. The most substantive change to the draft policy resulting from stakeholder engagement was to eliminate the “On-Site Net Zero” requirement or participation in utility tariffs as a threshold, and instead, make it an optional RDA program requirement. Redevelopment Advisory Committee (“RAC”) Review – RDA staff reviewed the proposed policy with the RAC during their August meeting. The policy was relatively well-received, but multiple members expressed concern regarding the lack of existing infrastructure to support all-electric buildings. They noted there can be lot constraints when working to accommodate new electrical infrastructure on a site, which has been occurring more often as electric vehicle (EV) chargers are being incorporated into projects. One RAC member suggested the city be more flexible in terms of where electrical boxes can be located. In response to these concerns, RDA staff sent Rocky Mountain Power the draft policy for review and has requested to meet with a representative to explore ways the RDA can support changes that would facilitate the implementation of new city sustainable development requirements. The RAC was also in favor of applying the sustainable development requirements to all affordable housing projects as a matter of environmental justice. All Salt Lake City residents should benefit from the positive environmental impact of this policy, not just those within market rate housing. Due to increased building efficiency, residents should see a decrease in their monthly energy bills. The RAC also asked what could be done to promote other environmental benefits such as green space, water conservation, walkability and more. The RDA’s livability benchmarks do work to promote these public benefits, but more could be done in collaboration with other city departments. RDA staff will return to the RAC to ask for a formal recommendation in November. Policy Questions – 1.The Threshold Sustainability Measures (‘a’ & ‘b’) will apply to both new construction and rehabilitation projects. Because there is some inherent sustainability associated with rehabilitation projects, should these requirements only apply to new construction? 6 2.Should funding be made available to supplement energy modeling costs and sustainable certification fees to facilitate compliance with this policy? 3.Because sustainable building technology is ever evolving, should the RDA be required to review and update the policy every 2-3 years? PREVIOUS BOARD ACTION: None. ATTACHMENTS: A.RDA Sustainable Development Policy Draft B.Notes from Professional Roundtable Discussions