200 to 1,000 points | C-PACE Applicable to counties and cities outside Westchester County; cities and towns in Westchester County. NY-Green Bank financing is applicable to all municipalities.
Municipalities may partner with clean energy and sustainable infrastructure project developers to encourage them to apply for C-PACE or NYGB financing when traditional lenders are not available to support their projects. The goal is to encourage project developers, with the help of municipal support, to apply directly for market-rate financing through C-PACE or NYGB to promote the development of clean energy projects. Municipalities will be recognized for bringing eligible projects through C-PACE or NYGB that lead to a successfully closed transaction.
For purposes of this category, municipalities must demonstrate completion of the Green Financing action by completing one or more of the below three options:
Open C-PACE Authorization
200 points
C-PACE (Property Assessed Clean Energy), also known as Commercial PACE (C-PACE) Financing, is a program adopted by an eligible municipality that allows commercial or non-profit property owners to pay back the cost of clean energy upgrades to their property over a term that can go as long as 20-30 years and is secured through a benefit assessment lien on the improved property. PACE is available in NYS through the Energy Improvement Corporation (EIC), a non-profit, local development corporation designated as C-PACE administrator across NYS, except for the City of New York, and through New York City Energy Efficiency Corporation (NYCEEC), the City of New York's designated administrator of the NYC Accelerator PACE Financing program. Both administrators are in charge of ensuring C-PACE Financing conforms with the enabling legislation and NYSERDA C-PACE guidelines.
Submission requirements:
Submit proof of the applying jurisdiction having authorized the C-PACE. Authorization requires adoption of a local law and signing a municipal agreement with the C-PACE Administrator.
Complete Open C-PACE Project
400 points
Submission requirements:
Submit documentation closing of one or more C-PACE projects located in the jurisdiction, or comparable information. To be eligible, the jurisdiction must complete the PACE Financing – C-PACE Authorization action. Date of completion is date of the first finance closing.
Submit proof of community outreach regarding C-PACE financing prior to the loan closing. This could include a screenshot or webpage, social media posts, flyers, etc.
NY Green Bank Project Closing
400 points
NY Green Bank (NYGB) is a New York State-sponsored investment fund at NYSERDA dedicated to filling financing gaps in clean energy and sustainable infrastructure markets. Its investments contribute to greenhouse gas emissions reductions, energy efficiency, clean energy generation, and the mobilization of private capital in key market sectors.As a State investment fund that collaborates with private investors, NY Green Bank plays a unique role in New York’s transition to a green economy, which was written into law under the Climate Leadership and Community Protection Act (Climate Act). NY Green Bank uses public capital to mobilize private investment into underserved green sectors, filling market gaps and advancing public climate targets, with the goal of enabling private investors to expand their sustainable infrastructure portfolios in a meaningful way. NYGB is able to provide $5-50 million in financing for projects that are located in or serving the jurisdiction of the municipality.
Submission requirements:
Submit screenshot of social media/news posts uploaded to the municipality’s website promoting NYGB financing opportunities.
Submit proof of outreach to developers regarding NY Green Bank Financing programs prior to the loan closing. This shall include email blasts or flyers addressed to the developer or a targeted email correspondence to the developer. It is expected that the municipality will also maintain continuous contact with the developer through the financing approval process.
Submit the relevant NY Green Bank Transaction Profile PDF (accessed https://greenbank.ny.gov/Our- Impact/Portfolio) demonstrating that one of the targeted developers achieved closing of one or more NY Green Bank projects located in the applying municipality’s jurisdiction. The submitted documentation must include the date of the finance closing, which is the date of completion for this action.