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.

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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 Development Long Island	Konica	$2.5M loan for the new construction of an all-electric mixed-use building with market rate, workforce, and senior housing units on Long Island. The project will be LEED certified under City of Glen Cove requirements and will include solar panels and EV charging stations onsite.	Construction Loan	Located in DAC: The building will designate 34% of units for senior housing at 80% or less Area Median Income (AMI) and 34% for workforce housing at 80% or less 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.
Leviticus	FAC Brownsville	$1.65M loan for the new construction of three all-electric, multifamily residential buildings in Brooklyn, expected to meet Enterprise Green Communities Certification and constructed using Passive House principles. Buildings will include highly insulated walls and roofs, energy efficient HVAC system, high-efficiency hot water heaters and appliances, low flow fixtures, rooftop solar, and construction will use low-to-no emitting VOC materials.	Construction Loan	Located in a DAC: This development ensures 100% of residential units reserved for households earning 80% or less of Area Median Income.
Leviticus	ACMH Jamaica	$2.2M loan for the new construction of an all-electric six-story supportive and affordable housing building in Queens that will be Enterprise Green Communities certified and integrate an all-electric HVAC system, a roof solar array, inverter or variable heat pump systems, and thermal ventilation. All tenants will have in-unit access to high-speed broadband at no cost.	Construction Loan	Located in a DAC: This project will provide 80 units total, 60% will be reserved for individuals with serious mental illness, 40% will be reserved for households earning 60% or less of Area Median Income.
Leviticus	ACMH Webster	$1.9M loan for the new construction of an all-electric eleven-story supportive and affordable housing building in the Bronx, integrating an electric boiler system, inverter or variable heat pump systems, thermal battery insulation, continuous air vapor barrier at exterior walls and roof, and a rooftop solar array.	Construction Loan	Located in a DAC: This building will reserve 60% of the total units for individuals with serious mental illness earning below 60% of Area Median Income (AMI) and 40% will be reserved for affordable households earning 60% or less of AMI.
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).
TruFund	Hope Community	$1.7M loan for the renovation of 398 apartment units in East Harlem. Rennovations will include LED lighting, 2-pipe VRF systems in each building, VRF wall-mounted units with in-unit controls, condensers on roofs, ENERGYSTAR rated electric appliances, energy efficient window and door replacements, and domestic hot water with controls systems.	Construction Loan	Located in a DAC: This property is a NYCHA PACT development. All units are reserved for vulnerable populations and households earning 60% or less of Area Median Income.
TruFund	Timbale Terrace LLC	$1.2M loan for the new construction of an all-electric affordable multifamily residential building in East Harlem. The building will be constructed to Passive House standards and include rooftop solar, ERV, air to water heat pumps, and air-cooled condensing units.	Construction Loan	Located in a DAC: This building will reserve 30% of the units for households with mental health or substance use disorders and 70% will be reserved for households with incomes ranging from 30% to 70% Area Median Income.
TruFund	SHF Clusters 3 LLC	$2.8M loan for the renovation of four affordbale multifamliy buildings with 242 units total in the Bronx. One building will be all-electric and three will be partially electrified focusing on heating and cooling systems. All buildings will comply with EGC Criterial for substantial rehabilitations and will have rooftop solar.	Construction Loan	Located in a DAC: This project will rehabilitate four tenement buildings with all units reserved for households with 60% or less of Area Median Income.
TruFund	Williamsburg Court HDFC	$2M loan for the new construction of an all-electric, 14-story, low-income senior housing building in Brooklyn. This building will be constructed to Passive House standards and will include rooftop solar and heat pumps.	Construction Loan	Not Located in a DAC: This building will reserve all units for low-income senior housing with households earning between 70% or less of Area Median Income.
Nonprofit Finance Fund	Bold Charter School	$3M loan for the new construction of an all-electric charter school located in the Bronx with single package and split system heat pumps, energy-efficient electric domestic hot water heater, LED lighting, and HVAC and lighting sensors and controls.	Construction Loan	Located in a DAC: This school will add 301 new seats, increasing it's student body to 700. Over 90% of the students are economically disadvantaged.