New York School Districts to Receive $957M in Bond Financing for Upgrades
Governor Kathy Hochul announced that $956.8 million in tax-exempt bonds were issued through the Dormitory Authority of the State of New York (DASNY), and the bonds will go into the 69 public school districts for their upgrades. The financing will support classroom additions and renovations, athletic field improvements, energy efficiency upgrades, safety enhancements, and technology updates to promote innovation and collaboration.
HHS Publishes First Round of IRA Case Studies on Health Sector Climate Investments
The HHS Office of Climate Change and Health Equity (OCCHE) published two case studies today highlighting how Boston Medical Center and OhioHealth, a pair of nonprofit safety net health care providers, are using the Inflation Reduction Act (IRA) to reduce carbon emissions. The case studies are meant to offer health organizations in similar situations a roadmap to use the IRA to serve their core mission, reduce climate-related health impacts, and advance health equity.
Houston, TX Issues $104M Bond to Bolster Health Services
The Houston metro area, with a population of 2.3 million, swelled by nearly 140,000 people last year. The growth has put pressure on the infrastructure and services of America's fourth-largest city, including its healthcare systems. To handle the increased patient load, the Harris County Cultural Education Facilities Finance Corp. is issuing a $104 million municipal bond to finance facility and system improvements within the nonprofit Memorial Hermann Health System, whose patient admissions grew 6.1% last year.
$45M Announced to Establish Energy Efficiency Loan Funds to Five States
The U.S. Department of Energy announced six awards, totaling approximately $45 million, from the Energy Efficiency Revolving Loan Fund Capitalization Grant Program. The Program, supported by the Bipartisan Infrastructure Law, provides funds that allow states and territories to provide loans and grants to residents for energy efficiency audits, upgrades, and retrofits, and will encourage financial institutions to enable American families and small businesses to save money and reduce their energy costs.
North Carolina Senator Proposes Commercial Lending Program Bill for Energy Improvements
A local elected official is pushing to provide a new financing mechanism for commercial property improvements. Several renewable energy groups support the program, but the state treasurer is concerned it would be unconstitutional and exploited by predatory lenders. The bill provides a method for commercial property owners to receive long-term financing from private lenders to pay for improvements. Its financing would be administered by the Economic Development Partnership of North Carolina and overseen by the Department of Commerce.
DC Partners Scores $46M PACE Funding for Texas Thompson Hotel, Retail
DC Partners' mixed-use development near Houston's Buffalo Bayou Park has secured a $46.6 million loan from a funding source that rewards energy-efficient projects. Lone Star PACE, an administrator of Texas' Property Assessed Clean Energy program, dished out over $31 million in C-PACE financing for the Thompson, a 172-key luxury hotel at 1711 Allen Parkway. Another $15 million was directed toward a 53,000-square-foot retail building adjacent to the hotel, at 1755 Allen Parkway.
Treasury Issues Proposed Guidance on Technology-Neutral Clean Energy Tax Credits
The U.S. Department of the Treasury and IRS issued proposed guidance for the Inflation Reduction Act's new technology-neutral 48E and 45Y clean electricity credits, which will replace existing production and investment tax credits. The credits offer incentives for the first time to any clean energy facility that achieves net zero greenhouse gas emissions and recognizes wind, solar, hydropower, marine and hydrokinetic, nuclear fission and fusion, geothermal, and certain types of waste energy recovery properties as qualifying technologies.
New York First in Nation to Offer IRA Rebates to Low-Income Homeowners
New York State became the first state in the nation to offer the first phase of Inflation Reduction Act (IRA) Home Electrification and Appliance Rebates Program funding to consumers. The initial $39.6 million formula grant will expand the reach of New York's EmPower+ program by allowing more low-income families to improve their homes with energy efficiency and electrification upgrades that will reduce energy costs and transition away from burning fossil fuels in their homes.
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