Innovative Funding Methods to Achieve Climate Action & Equity in U.S. Cities
Without dedicated revenue streams to fund climate change mitigation, resilience, and environmental justice, U.S. cities will continue to face fiscal constraints. But even in our economically challenging times, the light of leadership remains bright at the city level. Mayors, community coalitions, advocacy groups, and city councils have maintained focus on climate change and the need for aggressive action to protect and improve their communities' futures.
Check Out Intro Public-Private Partnerships Course at CDFA Virtual Summer School
The Intro Public-Private Partnership (P3) Finance Course examines how development finance agencies can use P3s for real estate developments, schools, public transit, affordable housing, energy and water facilities, and other types of projects. This course covers basic P3 concepts, key players involved in transactions, asset valuation, contract negotiation, risk assessment, revenue stream development, and feasibility analysis.
Senate Finance Committee Advances Energy Tax Credit Overhaul Bill Amid Partisan Deadlock
Members of the Senate Finance Committee vied to add and preserve resource-specific tax credits to the Clean Energy for America Act, a bill intended to replace some 40 individual tax incentives with broader and more uniform tax credits tied to carbon emissions reductions. While Democratic members of the committee generally supported the bill, Republicans rejected the final version.
Municipality of Anchorage, AK Launches Innovative Energy Finance Program
Anchorage recently launched a program to enable the financing of clean energy projects for commercial buildings. Anchorage is the first local government in Alaska to create a C-PACE program, though the local program was designed with partners to be easily adopted by other tax assessing jurisdictions in Alaska.
Connecticut's C-PACE Program Surpasses $200M in Clean Energy Investment for Commercial & Nonprofit Properties
The Connecticut Green Bank has announced that the state's Commercial Property Assessed Clean Energy (C-PACE) program surpassed $200 million in clean energy investment in local businesses. This $200 million supported nearly 340 closed projects, which will provide an estimated lifetime energy cost savings of $300 million and reduce energy usage by over 5 million MMBTUs through efficiency upgrades and renewables.
Successful Sale of Green and Sustainability Bonds Takes Place in Massachusetts
The State Treasurer's Office officials announced that the Massachusetts Clean Water Trust has completed the sale of approximately $351.4 million in two series of new money Green and Sustainability Bonds. The Sustainability Bonds were the first such issuances from the Trust and the first in the nation for a state revolving fund. It was the Trust's sixth Green Bond issuance.
More Than 400 Communities are Now Solar Energy-Ready
The SolSmart program has reached an exciting new milestone: Over 400 counties, municipalities and regional organizations have achieved SolSmart designation! SolSmart communities can be found in 41 states, the District of Columbia and the U.S. Virgin Islands, representing a total of over 100 million people. These SolSmart-designated local governments have expanded local solar knowledge.
In Vermont, New Model Emerges to Improve Migrant Farmworker Housing
A migrant worker rights group, a worker-owned construction cooperative, and an efficiency utility are collaborating on new housing designs and financing to improve farmworker living conditions and reduce energy waste. One important source of funding for the project is the U.S. Department of Agriculture's Rural Development program, which offers 1% interest loans lasting up to 33 years for farmworker housing.