Funding

Since 2004, the Green Development Center has provided $3,149,000 in grantmaking and $433,000 in lending and recoverable grants to projects ranging from multifamily affordable housing energy retrofits to green infrastructure to rooftop urban farms.

Spencer Green Apartments in Chelsea, MA

Urban Studios Apartments in Duluth, MN

Three programs make up our funding strategy and are available to all 30 of LISC’s local offices:

The Green Loan Fund

From a unique pool of CDFI funds, the GDC offers two types of lending products to finance the green features of affordable housing, community economic development, and community facility projects:

• Predevelopment financing in the form of recoverable grants (up to $30,000) to pay the costs of predevelopment, including plan preparation and consulting fees.
• Construction/Mini-Perm financing in the form of low interest loans (up to $75,000) to pay the costs of critical green features at risk of elimination from the development plan due to budget pressures.

Green Planning and Construction Grants

One of the first steps to understanding green design is to understand the integrated design process. While green charrettes are central to identifying green goals, a longer, more in-depth relationship between the developer and green professionals is necessary for successful implementation. In the last few years, the GDC has supported planning grants up to $10,000 that not only cover the cost of green charrettes, but also help hire green experts for the design team at the earliest stages of development.

Green construction grants are critical to getting green projects built. Since 2004, the GDC has offered grants up to $50,000 to support the construction of facilities that demonstrate social, environmental and financial success. All projects must be ready to begin rehabilitation or construction that ultimately leads to the production, preservation or improvement of affordable housing units or commercial and community facilities that incorporate green features.

Capacity Building Grants

Building the capacity of CDCs to carry out greening as an integral part of their work is becoming increasingly critical to their ability to meet new regulatory requirements around green building and to take advantage of new opportunities around green jobs in the workforce development field. The GDC offers grants up to $13,750 for CDC’s to add or enhance their existing green community development expertise, including but not limited to green building and green jobs.