The Rockefeller Foundations EIB Challenge is putting a spotlight on an innovative new funding mechanism.
David Pendered reports that the city of Atlanta is throwing its hat into the ring for Environmental Impact Bond funding underwritten by the Rockefeller Foundation.
Atlanta is one of a dozen cities seeking funding from the EIB Challenge, which will eventually fund a total of $342,000 to underwrite Environmental Impact Bonds in two cities. "EIBs are part of the emerging green-bond industry that doubled to $95 billion in 2016, according to a report by bloomberg.com," explains Pendered. "The innovative element in EIBs is the notion that it reduces the financial risk to the government of installing green infrastructure."
The city of Atlanta's application for the EIB Challenge funding would improve the polluted Proctor Creek watershed, which drains much of the rain that falls on Downtown Atlanta.
FULL STORY: Atlanta may be among world’s first cities to use new financing tool for green infrastructure
Environmental Impact Bond to Fund Atlanta Watershed Projects
The bonds finance new green infrastructure projects that otherwise would be considered too risky.
New NYC ‘sponge’ medians will absorb 5 million gallons of stormwater per year
The project will turn three medians in Queens into green infrastructure designed to absorb stormwater.
Atlanta Beltline’s free automated shuttle expands service
A $1.75 million grant funded the autonomous shuttle service’s growth.
The state-sanctioned urbicide of Austin
People don’t kill cities. Freeways do.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
New Jersey’s second-largest city bans standalone data centers
Jersey City will continue to allow co-location facilities, such as those meant for research institutions that store their own data.
Amtrak not solely to blame for New Jersey commuter rail's unreliability, report finds
A new study from the Garden State Initiative found that NJ Transit’s budget grew 20% across a 4 year period, but reliability declined significantly over the same period.
EPA erases limits on planet-warming pollution from power plants
Under Monday’s plan, power plants would still have some limits on how much mercury, arsenic and other contaminants they can emit.
Phoenix announces new on-demand transit service, more frequent RAPID buses
Both new services will launch in October, and are part of Phoenix's Project Effective Access Solutions for Easing Congestion.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
Eagle County Government
Harvard University Graduate School of Design
Nashville Planning Department
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello
Journal of the American Planning Association