EVENT III [Latvian Renovation Strategy – v2]

Main Topics

Third workshop will build on the results of the first introductory workshop. The main conclusions of the first workshop will relate to the availability of finance for deep renovations from variety of sources (EU funds, state and local government grants, private investments). This workshop will look at relevant innovative financial schemes, both based on local practices and international expertise. One of the specific concepts that will be discussed is Green Mortgages that can ensure deep renovation without absolute necessity of public or EU funding.

Main Barrier to Be Addressed 

Whilst the EU funds are available till 2020 and it is crucial for Latvia to take advantage of the finance available and kick start good renovation practices and pace, it is also important to focus on the long term strategy for financing renovations both in public sector and residential building stock, for example alternative finance models need to be considered. In addition several instruments need to be explored, for instance, loans with reduced interest rates, tax incentives and Green Mortgages concept.

Scope National, regional, local

Building types All building types

Stakeholders 

This event is aimed at different types of stakeholders – public sector (both ministries and municipalities), financial services (banks, insurance companies, consultants), construction businesses, energy companies, research institutions, media, associations, building management companies.

Expected Results 

The main goal of this event is to ensure expert discussions on the potential to implement innovative financing models for renovations. The recommendations for the national renovation strategy are to set out clear action plan in the strategy that enables the environment for innovative financial models to be explored and implemented.