Community Decarbonization Fund
Infrastructure financing focused on Disadvantaged Communities
NY Green Bank has committed over half of the $250 million Community Decarbonization Fund (CDF) in its first year of launch. From building decarbonization to electric vehicle infrastructure, community development financial institutions (CDFIs) and mission-driven investors are using CDF capital to fund greenhouse gas emissions reducing projects that benefit historically disadvantaged communities (DACs) across New York State.
CDF Projects
The CDF aims to accelerate New York State’s transition to a clean energy future by providing flexible financing to lenders that support community-focused projects. Learn more about the projects funded by these mission-driven lenders, made possible by CDF capital, to advance decarbonization initiatives benefiting historically underserved and low-income 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.
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.
CDF Resources
Contact
If you have questions on this or other NY Green Bank opportunities email [email protected].
Interested in contacting any of the approved CDF borrowers? Reach out to the contacts below:
Low Income Investment Fund (LIIF) – Molly Anderson, Deputy Director, Northeast Region [email protected]; Sebastian Giraldo, Deputy Director of Treasury [email protected]
TruFund - Desiree Thomas, VP/Director of Community Climate Finance, [email protected]
ECLF - Megan Marsick, Director, Investment, [email protected], and Theresa Cassano, Director, Lending, [email protected]
CPC - Fergus O’Connell, Vice President, Director of Capital Strategies, [email protected]
Carver - Reuben Miller, VP and Commercial Lender, [email protected]
Leviticus - Alex Canzone, Investment Officer, [email protected]
Community Development Long Island - Gwen O’Shea, CDLI President & CEO, [email protected]