More Calls for Sustainability Financing Districts

 

Photo credit: LA WadCalifornia Assembly Bill 811 fans: here’s another update.
Yet another call was issued recently for a sustainability financing district; where the city would offer residential green tech financing via property tax assessments - one of my super faves among the green finance moves out there.

Back in May, I posted about how legislation authorizing cities to create sustainability financing districts has been gaining traction.

That traction continues.

In this latest item, you basically have a key staff member of a state senator’s very green leaning Santa Rosa  district, calling for a sustainability financing district for their city. I’m not saying that enacting this type of program is a no brainer, but given the headway already made by Berkley, San Francisco and others — Santa Rosa should have an easier time envisioning how to get it done and reaping the benefits. Once legislation authorizes them to take action.

I can’t stop singing this song: AB 811 represents one of the best new strategies in green real estate finance. It can foster the rapid adoption of green technology via sharing a city’s cost of capital with homeowners. It empowers cities to step up and address climate change using their own unique financial advantages.

As a result, the proposed sustainability financing districts could create a mega-win for the cities, homeowners, green tech companies and the future green collar job holders involved.

Oh yeah, and let me sing my other AB 811 song: Banks and other consumer financiers, that currently shy away from residential lending should be taking notice of a very big horse that has taken another step out of the barn in California.