CDF PROJECTS
Projects financed by CDF borrowers
NY Green Bank’s lending to Community Development Financial Institutions (CDFIs) and other specialty lenders through the Community Decarbonization Fund (CDF) plays a key role in enabling these organizations to expand their capacity, implement new programs, and drive meaningful decarbonization initiatives. This table highlights projects funded by CDF borrowers, showcasing the impact of community-focused capital in advancing decarbonization efforts.
| CDF Borrower | Project Name | Project Description | Loan Type | DAC Impact |
|---|---|---|---|---|
| Enterprise Community Loan Fund | DREAM River Avenue Charter School | $6.35M loan for new construction for charter school in the Bronx, funding energy efficiency measures such as VRF systems, high-performance windows, energy efficiency appliances, and EV charging stations. |
Construction Loan | Located in DAC: Completed construction for expanded space for DREAM Charter School serving East Harlem and South Bronx students pre-K to 8th grade |
| Enterprise Community Loan Fund | Forte Prep Charter School | $5M loan for new construction of fully electrified building with single package heat pumps, split system heat pumps, variable refrigerant flow, tankless water heaters, LED lighting, continuous exterior insulation, etc.. |
Construction Loan | Not located in DAC: Tuition-free school with mission to accelerate learning for students grades 9–12 of School District 24 in Queens, NY. Over 80% of students qualify for free/reduced lunch program, indicating household income is below 80% of Area Median Income (AMI). |
| Enterprise Community Loan Fund | Geel Union Avenue | $2.8M loan for the renovation of supportive housing building in the Bronx. Eligible technologies include new high efficiency ENERGYSTAR-rated roof, ENERGYSTAR-rated appliances, WaterSense-labeled plumbing fixtures, etc. | Construction Loan | Located in a DAC: 100% of the residential units will be affordable to households earning 80% or less of Area Median Income (AMI), with 100% also affordable to those earning 60% or less of AMI. |
| Enterprise Community Loan Fund | New Senate | $4.187M loan for the rehabilitation of supportive housing residential building in Manhattan. Eligible technologies: VRF system, air source heat pump, hot water heater with storage tanks, decommissioning and removing the old oil tank, etc. Complies with NYSERDA's Electrification Pilot standards and Enterprise Green Communities. | Construction Loan | Not located in DAC: The building serves tenants with histories of homelessness and mental illness, and the sponsor employs on-site social service staff. |
| Community Development Long Island | Baldwin Commons | $2.5M loan for new construction of multifamily affordable housing complex in Baldwin, NY. Eligible technologies include air source heat pumps, heat pump, domestic hot water heater, EV charging stations. |
Construction Loan | Not located in DAC: 100% of the building's residential units will serve households earning 80% or less of the Area Median Income (AMI). |
| Community Preservation Corporation | 164 4th Ave | $15.5M loan for new construction of a fully electric, mixed-use building in Brooklyn constructed under the Mandatory Inclusionary Housing (MIH) Program. | Construction Loan | Located in DAC: 20% of the residential units will be affordable to households earning 80% or less of the Area Median Income (AMI), and 20% will be affordable to those earning 60% or less of AMI. |
| Community Preservation Corporation | Kinwood Apartments | $4.5M loan for the rehabilitation of multifamily residential building. Eligible technologies include ENERGY STAR appliances, LED lighting, low-flow plumbing fixtures, roof replacements, air source heat pumps, etc. | Construction Loan | Located in DAC: Classified as naturally occurring affordable housing; 63% of residential units affordable to households earning 80% or less of the Area Median Income (AMI), and 6% of units affordable to households earning 60% or less of AMI. |
| Community Preservation Corporation | The Grand | $1.5M loan for the new construction of fully-electric, multifamily residential building in New Rochelle, NY. Eligible technologies include flooring and ceiling systems, energy efficient electric PTAC units with built in heat pumps, EV charging stations, etc. | Construction Loan | Located in DAC: The property will have 10% of residential units affordable to households earning 80% or less of the Area Median Income (AMI) and is a transit-oriented development. |
| Community Preservation Corporation | Lakeshore Preserve | $2M loan for the rehabilitation of a garden-style apartment complex. Eligible technologies include septic tank replacement, HVAC upgrade, electric air source heat pump installation, appliance and lighting upgrades. | Construction Loan | Not located in DAC: The property will have 50% of units reserved for households earning 80% or less of the Area Median Income (AMI) under a regulatory agreement with Freddie Mac, which ensures long-term affordability by setting income and rent limits for those units. |
| Leviticus | Concern Warwick | $3.3M loan for the new construction of a multifamily affordable housing building in Brooklyn, NY. It will be built to Enterprise Green Communities standards and fully electric. | Pre-development Loan | Located in DAC: 100% of the residential units will be affordable to households earning 80% or less of the Area Median Income (AMI) and 60% or less of the State Median Income (SMI). |
| Leviticus | St. Emeric | $2.4M loan for the new construction of a 338-unit affordable supportive housing project in Manhattan, NY, which will be built to Enterprise Green Communities Standards and Passive House Standards. | Construction Loan | Located in DAC: 100% of residential units affordable to households earning 80% or less of the Area Median Income (AMI). The building will serve seniors, previously homeless individuals, and people with special needs who qualify for supportive services. |
| Low Income Investment Fund | Forte Prep Charter School | $11M loan for new construction of fully electrified building with single package heat pumps, split system heat pumps, variable refrigerant flow, tankless water heaters, LED lighting, continuous exterior insulation, etc. | Construction Loan | Not located in DAC: Tuition-free school with mission to close achievement gaps and accelerate learning for students grades 9–12 of School District 24 in Queens, NY. Over 80% of students qualify for free/reduced lunch program, indicating household income is below 80% of Area Median Income (AMI). |