USDA Invests $192M in Rural Water and Wastewater Infrastructure
USDA is making the $192 million investment through the Water and Waste Disposal Loan and Grant program. Rural communities, water districts, and other eligible entities can use the funds for drinking water, stormwater drainage, and waste disposal systems in rural communities with 10,000 or fewer residents.
Junk Debt Investors Welcome Rare Green Bond
Hannon Armstrong, which finances renewable energy and power efficiency projects, raised $350 million from its bond sale. The green sale is the first from a high-yield company that does business primarily in the U.S. to price since March 2017, and one of five actively trading green junk bonds.
PACE Equity Deal First in Nation to Combine PACE Funding and an OZ Fund
PACE Equity recently completed funding $4.3 million for the construction of a new Hyatt House hotel in Rochester, Minnesota. It is notably the first Opportunity Zone fund project in the nation to include PACE funding to date. The hotel developer turned to PACE Equity, who ultimately funded $4.3 million. The remainder of the capital stack was provided by a construction loan of $29.7 million and $14.4 million equity.
Construction Resumes on $6.6M Hydroelectric Facility in Canton, CT
Construction has resumed on a small hydroelectric facility in Canton, CT. The total project cost is about $6.6 million, with the Connecticut Green Bank providing a $1.2 million subordinate loan and $500,000 limited guaranty to leverage a $4.7 million senior loan from The Provident Bank through the U.S. Small Business Administration.
$7.6M Slated For Enfield Water Pollution Control Facility
The recent sale of $280 million of State of Connecticut State Revolving Fund General Revenue bonds, most of which were sold as Green Bonds, will help finance critical wastewater and drinking water infrastructure projects through the State's Clean Water and Drinking Water Programs.
NJ Senate Passes Bill Expanding Property Assessed Clean Energy Program
Legislation, which would authorize municipalities to facilitate public or private financing of water conservation, storm resiliency projects, and energy projects through the use of voluntary special assessments, was passed by the Senate.
Can P3s Jumpstart Smart Cities?
While the intricacies of public-private partnerships can be tough to navigate, they have been successful in helping cities build the kind of digital infrastructure that's necessary for today's urban economy and society. Ultimately, the sheer scope of many P3-based transformations is the greatest challenge.
ID City Receives $3M in Drinking Water Construction Loan
The City of Athol in Kootenai County has been awarded a $3,286,000 dollar low-interest drinking water construction loan by the Idaho Department of Environmental Quality. The funding will be used to construct a new water system for the town and includes demolishing two existing water reservoirs, modifying an elevated water reservoir, constructing a standpipe and water main, adding a transmission line, electrical, pump and building upgrades.
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