Green Compass 2021
Green Compass was founded to rapidly reduce the emissions of the built environment. As part of that mission, they design and build sustainable energy and water solutions for public and private property owners, operators, and developers to reduce energy usage, emissions, and water costs for new and existing buildings. The Green Compass team was already working with multiple District partners interested in the benefits of stormwater management and green infrastructure. In order to pursue these opportunities, Green Compass was looking to identify affordable and flexible financing options to support an evolving portfolio of projects that could be accessed to meet the needs of their clients and varying construction and permitting schedules.
Green Compass reached out to the DC Green Bank team to discuss financing options for these exciting projects.
DC Green Bank developed an innovative revolving loan facility to support up to five new stormwater and green infrastructure projects across Wards 5, 7, and 8 to support the work of Green Compass. The projects are expected to deliver strong air and water quality improvements, electricity savings, flooding benefits, and good, green jobs to the community.
- 250,000 Gallons of Stormwater Diverted
- 10,000 Square Feet of New Green Infrastructure
- $1.2 Million Total Project Size, Including $650,000 From DC Green Bank
- $42,000 Expected Savings For Initial Project Site
DC Green Bank's Contribution
DC Green Bank was able to work with Green Compass to develop an innovative revolving loan facility to support the emerging portfolio of projects. The $650,000 revolving loan facility is designed to deliver up to five new projects across Wards 5, 7, and 8 over an 18-month period. The projects will aim to divert up to 250,000 gallons of stormwater per storm event, while constructing 10,000 square feet of new green infrastructure and delivering cleaner air and water, increasing communities’ resilience to flooding, and adding dozens of good, green jobs during construction and maintenance. The implementation phase will also add or preserve 200 trees in the community. The first project has already addressed critical stormwater management needs at a historic Jewish cemetery in Ward 8.