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Learn about Finance New Orleans, including Featured News, Programs, and The Team.
Finance New Orleans (FNO) is a housing and development finance agency serving all New Orleanians to better our community. We provide mortgage financing for low-to-moderate income families and credit support for affordable rental and community development projects.
Founded by the City Council of New Orleans in 1978 as the “New Orleans Home Mortgage Authority,” our organization began by recognizing and acting on the demand for more affordable home mortgage financing. Today, FNO operates with a seven-member Board of Trustees appointed by the City Council of New Orleans, however we are not a department or division of the city government.
Since 1979, FNO has invested more than $650 million into the New Orleans economy. Our efforts have been largely focused on homeownership for low-to-moderate income families. These investments have resulted in more than 8,000 mortgage financings and the creation of affordable rental units for families in need.
Our goal for the future is to continue investing in homeownership because we believe it is the foundation of a functional community. In addition to homeownership, we are increasing our investments in multifamily and economic development projects that create stability in our neighborhoods.
Reach out to your members of Congress and share your support of the Clean Energy & Sustainability Accelerator
S.283, introduced by Senators Markey and Van Hollen, and H.R.806, introduced by Congresswoman Dingell, will provide the investment needed to accelerate America’s transition to clean energy with equity and justice in mind.
Visit the link below to fill out your information to securely email your members of Congress in support the Clean Energy & Sustainability Accelerator, a national climate bank.
FOR IMMEDIATE RELEASE
March 31, 2021
President’s American Jobs Plan Turns to Green Bank Model to Accelerate Clean Energy Deployment, Job Creation
Proposal has gained GOP support from Rep. Don Young and Rep. Brian Fitzpatrick
WASHINGTON—The White House’s American Jobs Plan includes $27 billion for a Clean Energy & Sustainability Accelerator, based on the proven green bank model, to mobilize private investment into distributed energy resources; retrofits of residential, commercial and municipal buildings; and clean transportation. The bank would make at least 40 percent of its investments in disadvantaged communities that have not yet benefited from clean energy investments.
“I congratulate President Biden, the whole White House team, and lead Congressional champions Senators Markey and Van Hollen and Congresswoman Dingell on the decision to create what would be the first national climate bank. The Clean Energy & Sustainability Accelerator will expand in scale and scope the way more than a dozen state and local green banks that for the last decade have combined public and private capital to expedite the transition from carbon to clean power as the platform for American society and business. We at the Coalition for Green Capital look forward to discussing with legislators the actual activities of the Accelerator as the brilliant infrastructure plan makes its way through Congress," said CGC CEO Reed Hundt.
The nonprofit Clean Energy & Sustainability Accelerator was included in the U.S. House Energy & Commerce Committee’s comprehensive CLEAN Future Act.
Since Sen. Chris Van Hollen (D-Md.), Sen. Ed Markey (D-Mass.), Sen. Richard Blumenthal (D-Conn.), Sen. Brian Schatz (D-Hawaii) and Congresswoman Debbie Dingell (D-Mich.) introduced S. 283 and H.R. 806, they have gained Republican support in the House from Rep. Brian Fitzpatrick (R-Pa.) and Rep. Don Young (R-Alaska). Sen. Debbie Stabenow (D-Mich.) has also added her support since introduction.
The National Academies of Science has recommended that Congress fund an institution based on the green bank model. In its report, it wrote, “Private sources of capital are unlikely to be sufficient to finance the low-carbon economic transition, especially during the 2020s when the effort is new. To ensure industrial competitiveness and quality of life, the United States should establish a Green Bank to mobilize finance for low-carbon infrastructure and business in America.”
In January, two independent reports by the Analysis Group and The Brattle Group found that a national Clean Energy Accelerator would have an outsized impact helping the United States recover from the economic effects of the COVID-19 pandemic and also speed up the country’s deep decarbonization and Environmental, Social and Corporate Governance (ESG) efforts.
Green banks currently exist in over 14 cities and states across the country and have supported over $5 billion in investment in clean energy projects in their states and local communities, and much of this investment has been targeted toward low- and moderate-income households and communities. View a list of projects that have been supported by already existing state and local green banks.
FANO Launches Developer Webinar Series Amid CEA Partnership with the City and Louisiana Housing Corporation
NEW ORLEANS, La. – The Finance Authority of New Orleans (FANO) has announced its partnership with the Louisiana Housing Corporation (LHC) to provide more affordable housing in the City of New Orleans. The Cooperative Endeavor Agreement (CEA) between the City, FANO and LHC is designed to build public agency coordination that will increase affordable housing development in New Orleans.
“Affordable housing has always been a top priority of this administration. This need is even more critical as residents face additional challenges due to the COVID-19 pandemic, “ said Mayor LaToya Cantrell. The CEA will allow FANO to offer affordable financial products including tax-exempt bonds, property tax exemptions and green infrastructure loans to developers building affordable, climate resilient housing.
As part of FANO’s climate resilient financing program roll-out, the agency has planned a series of monthly virtual workshops for area developers and contractors to discuss topics related to sustainable building. “The Developer Webinar Series is an opportunity for beginner and experienced developers to learn about FANO’s affordable housing products with an end goal of stimulating affordable housing production and job creation,” said Damon Burns, FANO CEO and President. “Mayor Cantrell and the City Council have instructed FANO to increase economic opportunity by prioritizing beginning developers and contractors. Coordination with LHC will allow us to move webinar attendees from class to the closing table. Each public partner understands the urgency and has committed investments to solve our affordable housing crisis,” Burns said.
“I am proud to partner with the Finance Authority of New Orleans and the Louisiana Housing Corporation to ensure improved public agency coordination to help make this happen. Together we are working to meet people where they are, using webinars to educate developers on how to create more housing and more jobs,” said Mayor Cantrell.
FANO’s Developer Webinar Series will provide developers and builders with key information pertaining to the benefits of partnering with its agency to create more opportunities for affordable, climate resilient housing and commercial space throughout New Orleans. FANO’s first Developer Webinar Series Workshop will include Marjorianna Willman, the City’s Director of Housing Policy & Community Development and LHC Executive Director E. Keith Cunningham, Jr., as presenters. Burns, Willman and Cunningham will discuss their new CEA partnership to fund sustainable, affordable multi-family housing and green infostructure.
“Mayor Cantrell has a vision of the City working across lines, partnering with LHC and FANO to provide affordable and sustainable housing throughout the City. In the COVID-19 world it is not just a goal but a must,” said Willman. “One of the Louisiana Housing Corporation’s greatest tools for increasing housing sustainability in Louisiana is our 4 percent Low-Income Housing Tax Credits,” said Cunningham. “Our partnership with FANO leverage’s that tool with new and existing partnerships to address the needs of New Orleans’ communities and developers. In this way, we ensure our commitment to provide affordable, resilient housing to New Orleanians, while at the same time, creating economic opportunities that are beneficial to everyone involved,” Cunningham said.
The Developer Webinar Series begins Friday, July 31st, and will continue indefinitely. Each month FANO will present experts in the developer field to discuss topics such as green financing & building standards, taxes & bonds, and more. All workshops will commence at 11am and will be geared to both larger-scale and smaller developers, and related local businesses. To attend FANO’s Developer Webinar Series Workshops, RSVP via Eventbrite. The Developer Webinars will also be available on FANO’s YouTube channel. For additional information about FANO’s Developer Webinar Series, email inquiries to RSVP.FANO@gmail.com.