DC Green Bank and Green Compass today announced the closing of an innovative revolving loan facility to finance the construction of a portfolio of new green infrastructure projects to better manage and clean stormwater runoff in Wards 5, 7, and 8 in Washington, D.C. The $650,000 loan facility will allow for Green Compass to design, build, and operate an estimated five new stormwater management and green infrastructure projects over the next 18 months. Combined, Green Compass will be constructing approximately 10,000 square feet of new green infrastructure, mainly through de-paving surfaces and replacing it with green spaces that manage stormwater, reduce runoff and pollution, and improve local air and water quality. The new projects aim to divert up to 250,000 gallons of stormwater runoff that would otherwise enter the sewer system every storm. When rainwater enters the sewer system, it becomes a costly waste product that flows directly into the Anacostia River, Rock Creek, and the Potomac River without treatment. In addition to providing cleaner water, cleaner air, and increasing resilience to flooding for communities in the District, these projects will also support the clean economy by delivering dozens of green jobs, including in construction, landscaping, groundskeeping, urban forestry, and engineering.
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