Building Safer Communities Together

Financing the future of energy efficiency and Seismic safety

 

 

100% Retrofit Financing

The Program offers 100% financing of your energy and seismic retrofit for 30 years- no balloon - financing only your project not your whole building.
 

Retrofit using an Assessment

Program financing is a municipal tax assessment which is levied on your property and paid with your regular property tax bill.
 

Engineering Cost Coverage

The Program can finance all costs including engineering, permits and inspections.
 

Transferable to New Owner

Financing may be transferred to a new owner and you may include other energy and water efficiency improvements in the financing.

Soft Story Program - Regulations for 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.

Seismic Soft Story



  •    Wood frame construction (Type V)
  •     Application of permit for original construction was prior to January 1, 1978
  •     Three or more residential units
  •     Two or more stories over a basement or underfloor area that has any portion extending above grade
  •     A soft story condition that has not been seismically strengthened to the standards set forth in the ordinance.


 



 

 

 

 

 

 

Enhance. Comply. Protect.

 

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


 

 

Counterpointe Sustainable Real Estate Can Help Finance Your Soft Story 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 
  • Your property must not be subject to any tax liens or bankruptcy 
  • Seismic assessment + your mortgage may not exceed 100% of the appraised value of the property
  • Your mortgage must be current and may not have been more than 30 days late in the last 12 months .
  • Certain required studies such as a earthquake sensivity analysis of your property (SEL) may be financed.

 

Visit www.CounterpointeSRE.com for more information

 
Step (2) Sign & Design

Once you are approved for the program, simply sign the Seismic Assessment documentation for your property 

Visit www.CounterpointeSRE.com for more information 
  • Your engineer will develop the retrofit plan and submit to SFDBI for approval 
  • Once you begin construction, CounterpointeSRE can pay your engineer directly for designs and specifications.

 

Step (3) Complete the retrofit

To Begin your Seismic Retrofit 

  • The Program can provide Progress payments to your contractor after the required inspections 
  • Complete your Seismic retrofit 
Step (4) Payment

Once the Seismic retrofit work is complete 

  • You or your engineer will request and inspection from the LA Building Department
  • A final Assessment amount will be recorded at the Tax Collectors office.
  • You will receive an addtional line item on your regular Property Tax Statement from the city for the annual Assessment payment. Date of first payment depends on Tax Enrollment Deadline and when you close the assessment.