- We can’t make a definitive recommendation at the moment until we finalise costings but the BlackwattleSolar Project Team believes that the project can be funded from the combination of a City of Sydney grant and drawing down from the Owners Corporation capital fund. The funds drawn down would be replenished in full plus interest higher than we can obtain from banks at current interest rates.
- The amount drawn down would be replenished over the life of the strata’s capital plan, 10 years, or less.
- And, after the capital has been paid back, the Owners Corporation would have an asset that, even depreciated, would be worth more than $100K.
- Financing will be decided by the Strata Committee following a vote by owners to proceed or not at the AGM in August.