DC Green Bank and Rainplan announced today the closing of an initial $2,000,000 deal to increase access and affordability for stormwater management infrastructure across the District. The loan agreement is groundbreaking in its commitment to deliver financing for both commercial and residential projects as well as its approach to diverse and scalable projects, including surrounding green mobility hubs, houses of worship, local businesses, and residential communities, with an emphasis on Wards 5, 7, and 8. All of the stormwater projects will take place in the District’s MS4 (Municipal Separate Storm Sewer System) service area, incorporating green infrastructure to mitigate negative water runoff impacts and enhance neighborhood streetscapes.
“Traditionally stormwater investments have been singular commercial projects impacting one District area. What is unique about this deal is that it promotes equitable access to financing regardless of project location or size,” says Jenny Janis, the Ecosystem Lead of Rainplan. “The $2M loan is critical to enabling green infrastructure participation across all wards.”
Cooper Martin, the Incentive Program Administrator at Rainplan, said of the project, “We are proud to work with DC Green Bank to support our stormwater portfolio. It is vital that we work with partners that understand the complexity and potential of this work and are willing to invest in innovative approaches. We look forward to delivering new stormwater projects across the District – prioritizing communities that are all-too-often left behind – and helping to build a more resilient city for all.”
DC Green Bank’s four core investment areas are solar, green and energy efficient buildings, clean transportation, and stormwater green infrastructure. Eli Hopson, CEO of DC Green Bank, said of the investment, “By supporting stormwater projects DC Green Bank helps to protect people, property, and our environment from adverse impacts of climate change, create good jobs, and provide valuable services to entire communities. Rainplan’s innovative digital platform puts information at your fingertips to pursue projects in an affordable way.” This is DC Green Bank’s second investment in an emerging stormwater infrastructure project pipeline in the District.
Read the Full Release Below
August-2022-Rainplan-Press-Release