Infrastructure Financing Focused on Disadvantaged Communities
NY Green Bank is pleased to announce the launch of a $250 million Community Decarbonization Fund (CDF) and encourages Community Development Financial Institutions (CDFIs) and other specialty lenders to apply for this highly concessionary funding pathway to deliver climate justice to residents of disadvantaged communities (DACs). The CDF is expected to expand and accelerate the lending capacity of smaller community-based and mission-driven investors by channeling financing into sustainable infrastructure projects that benefit historically marginalized communities.
How It Works
The CDF is a wholesale lending pathway available to CDFIs and mission-driven lenders to enable them to provide more capital to eligible projects benefitting residents of disadvantaged communities. The fund gives applicants significant flexibility in the form of a 12-year loan to work with community owners and climate advocates to identify funding opportunities that meet greenhouse gas reduction goals.
The CDF is also designed with flexible sizing parameters. Financing will be available at a minimum of $2 million to a maximum of the lesser of (i) $25 million or (ii) 20% of an eligible applicant’s total capitalization.
How to Apply
You can apply directly to the RFP by clicking the button below. There, you will also find additional information on this opportunity.
Guided by Stakeholders
As part of NY Green Bank's commitment to ensuring that at least 35% of our capital is committed to projects that benefit DACs throughout New York State, we conducted an extensive stakeholder engagement process. Participants in this process provided extremely valuable input, including suggesting the potential for a low-cost funding pathway for CDFIs and other mission driven lenders to expand opportunities to deploy clean energy finance in historically marginalized communities. The CDF was developed as a direct result of this feedback.
As we work to address barriers to accessing capital for clean energy projects within historically underserved communities, NYGB will continue to engage with stakeholders and potential clients to identify and evaluate additional opportunities.
Contact
If you have questions on this or other NY Green Bank opportunities email investmentrfps@greenbank.ny.gov
Grant Management Associates has years of experience with opportunities like this one. Contact us today for a consultation.