Community Decarbonization Fund - Financing for Disadvantaged Community Lenders

NY Green Bank is seeking proposals from financial entities for capital to deploy into clean energy, sustainable infrastructure, and related small businesses benefiting disadvantaged communities in New York State, with updates including corporate separateness, an accordion option, and expanded eligible projects.

General
Open
RFP 23
Dec 30, 2027 03:00 PM
May 01, 2023 12:00 PM
Request for Proposal (RFP)
State
Ask AI about this solicitation
Contact
David Davenport
+12129715342
1359 Broadway, New York, NY, USA
Description

NY Green Bank has issued an updated Request for Proposals (RFP) 23 (Version 2.0) for the Community Decarbonization Fund. The changes in Version 2.0 incorporate various structural changes to the illustrative terms and conditions of Community Decarbonization Fund loans, including a corporate separateness structure, an accordion option, expansion of projects eligible for funding, a limitation on loan maturity, creation of security interest, collateral account sweep upon material adverse event, a lowered default interest rate, expenses reimbursement, and assignment by notice. RFP 23 invites regulated and unregulated financial entities, such as CDFIs, insured credit unions, depository institutions, and non-profit corporations that perform lending activities, to submit proposals for NY Green Bank capital at concessionary rates. These entities must be actively deploying capital into clean energy and sustainable infrastructure and related small businesses that benefit disadvantaged communities (DACs) in New York State. Responses will be evaluated on a rolling basis, and the solicitation will close once NY Green Bank determines sufficient responses have been received. Eligible Applicants must be a certified Community Development Financial Institution (CDFI), a specialty lender, or a for-profit subsidiary of these entities. Eligible Projects must provide DAC Benefits, be located in NYS, follow an efficiency-first approach to maximize bill savings and reduce GHG emissions, and utilize an Eligible Technology. Applicants must demonstrate a track record or a credible plan for originating Eligible Project loans.

Classification Codes
NAICS522291Consumer Lending
PSCAB93OTHER COMMUNITY SERVICES AND DEVELOPMENT - ADVANCED DEVELOPMENT
Smart Codes
community decarbonization financingsustainable infrastructure lendingdisadvantaged community benefits
Timeline
May 1, 2023-Date of Issue
Dec 30, 2027-Due Date/Time
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