EPA Announces Availability of $2.6B of Funding for Water Infrastructure
The U.S. EPA announced the availability of more than $1 billion in new federal grant funding for the Drinking Water State Revolving Fund and $1.6 billion in new federal grant funding for the Clean Water State Revolving Fund. The funds can assist states, tribes and territories with improving drinking water and wastewater infrastructure across the country.
Dayton Arcade Approval Marks Several "Firsts" for PACE Financing
A redevelopment project that has been more than a decade in the making, the formerly abandoned Dayton Arcade will see new life. Through an innovative Property Assessed Clean Energy (PACE) financing structure and the collaboration of many private and public parties, the Arcade will undergo transformational renovation.
MI Solar Developer Emphasizes Job Training in OZs
Chart House Energy is using Opportunity Zones to help hire and train workers in low-income communities. Chart House is also working across Michigan to develop solar projects that capture the tax benefits from Opportunity Zones in an effort to offer lower cost power. In an Ypsilanti project, the for-profit entity owns the system and provides discounted power to the host facilities.
NE Indoor Sports Facility Gets $1.7M in C-PACE Financing
Petros PACE Finance, LLC announced the closing of a $1.7 million Commercial Property Assessed Clean Energy (C-PACE) transaction with Manzitto, a Lincoln, Nebraska-based commercial and residential real estate developer, marking the first C-PACE project in Lincoln. For this development, C-PACE was a natural complement in the capital stack that also included Tax Increment Financing and New Markets Tax Credits, both of which incentivize investment in economically distressed areas.
NYC Fights Against Climate Change with the Climate Mobilization Act
The New York City Council passed the Climate Mobilization Act, which includes various pieces of legislation that fight climate change. One of those measures will require most buildings over 25,000 square feet to reduce their greenhouse gas emissions by 2030. Also passed was the establishment of commercial Property Assessed Clean Energy (C-PACE) program.
Restructuring Support Agreement Reached for PR Power Company
Puerto Rico's Financial Oversight and Management Board, Fiscal Agency and Financial Advisory Authority (Aafaf by its Spanish acronym) and Electric Power Authority (Prepa) reached a restructuring support agreement Friday with holders of 51% of the public utility's revenue bonds.
Riverbend Approved for $200M in Loans for TX Water Project
Riverbend Water Resources District has been approved for $200 million in loans from the Texas Water Development Board for regional water infrastructure projects. The Riverbend Water Resources District applied for financial assistance from TWDB for $200 million that will enable Riverbend to pursue a new intake, raw water line and new water treatment facility, also known as the regional water project.
Northern KY County Approves Assessment District for PACE
The Boone County Fiscal Court recently approved legislation to create a countywide Energy Project Assessment District (EPAD) that allows property owners to use Property Assessed Clean Energy (PACE) financing to pay for energy-efficiency improvements on commercial, industrial, nonprofit, agricultural, and multi-family properties.
$84M in Green Bonds Issued for Drinking Water in CA
California State Treasurer Fiona Ma announced the sale of $83.9 million in revenue bonds to provide financial assistance to local governments for safe drinking water projects. The sale represents the inaugural issuance of bonds by the California IBank for the Drinking Water State Revolving Fund Program.