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March 31, 2021

News
Share your Support of the Clean Energy & Sustainability Accelerator

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.

March 31, 2021

Press Release
President’s American Jobs Plan Turns to Green Bank Model to Accelerate Clean Energy Deployment, Job Creation

FOR IMMEDIATE RELEASE

March 31, 2021

press@coalitionforgreencapital.com

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.

July 30, 2020

Press Release
FANO Launches Developer Webinar Series Amid CEA Partnership With The City And Louisiana Housing Corporation

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.

May 26, 2020

Press Release
FANO Partners With LHC And The City To Provide More Affordable Housing

Finance Authority of New Orleans partners with Louisiana Housing Corporation
and City of New Orleans to provide more Affordable Housing

NEW ORLEANS, La. – 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.

“Cooperation among government agencies is needed to address the large amount of demand for affordable and climate resilient housing,” said Damon Burns, FANO CEO and President. “This agreement is an example of the type of collaboration required to deliver more value to the community,” Burns said.

The CEA will allow FANO to offer affordable financial products including tax-exempt bonds, PILOTs and green infrastructure loans to developers building affordable, and climate resilient housing.

“This is a unique partnership between the State and municipal entities,” said LHC Executive Director E. Keith Cunningham, Jr. “Housing is a local concern, and having local partners ensures that we get it right. This endeavor gives us the ability to make an even greater impact within the City of New Orleans,” said Cunningham. The program will officially launch in June 2020.

For over 40 years, FANO has been committed to making homeownership possible for families in New Orleans. FANO recently updated its mission in response to the need for more environmentally sustainable housing and infostructure in Orleans Parish. For more information about The Finance Authority of New Orleans, please call (504) 524-5533 or visit financeauthority.org.

May 7, 2020

Press Release
Community Support Fund Created For Rental And Utility Assistance During COVID-19

Community Support Fund Created for Rental and Utility Assistance During COVID-19

The Finance Authority of New Orleans provides flexible resources to qualified families in Orleans Parish

NEW ORLEANS, La.—The Finance Authority of New Orleans (FANO) has announced the establishment of their Community Support Fund (CSF) in response to the Coronavirus (COVID-19). These funds will help Orleans Parish residents who qualify with rent or utility assistance in the wake of the pandemic.

Funds will be awarded to potential homebuyers and existing homeowners who qualify as part of the vulnerable populations disproportionately affected by COVID-19. The CSF is designed to complement FANO’s other community assistance programs and resources. In addition to providing rent and utility assistance, the CSF will also develop a transition plan for each potential homebuyer to ensure they are prepared for a post-COVID-19 environment.

“This is an extremely difficult time for all New Orleanians, especially for those who have lost loved ones, income, or have experienced other hardships that prevent their ability to maintain a stable home,” said Damon Burns, FANO’s President and CEO. “Our mission with this Fund, and with our other programs, is to provide financial products that improve the quality of life in New Orleans, with a focus on affordable housing, job creation and environmental protection,” Burns said.

The CSF primarily focuses on potential homebuyers and homeowners within Orleans Parish who have suffered a substantial loss of income due to the COVID-19 pandemic. Qualifications include, but are not limited to the following: reduction in job compensation, an obligation to be absent from work to care for home-bound school-aged child(ren), or job loss. Funding will be pooled into two categories for disbursement:

Category 1

  • Rental assistance with a maximum benefit amount of $500 per household

Category 2

  • Utility assistance with a maximum benefit amount of $75 per household

To apply for FANO’s CSF assistance, residents should call (504) 524-5533, (504) 354-0904, or email: csf@financeauthority.org. Applicants will be pre-screened to determine basic eligibility and will receive notice of the documentation needed to qualify for the program.

For over 40 years, FANO has been committed to making homeownership possible for families in New Orleans. FANO recently updated its mission in response to the need for more environmentally sustainable housing and infostructure in Orleans Parish. For more information about The Finance Authority of New Orleans, please call (504) 524-5533 or visit financeauthority.org.

BAMM Communications is a public relations agency for The Finance Authority of New Orleans. For more information about BAMM, visit www.BAMMComunications.com

June 5, 2019

Press Release
FANO Changes Its Business Model To Address Climate Change

FANO Changes Its Business Model To Address Climate Change

The Finance Authority of New Orleans relocates and shifts its focus to the City of New Orleans’ resiliency efforts

NEW ORLEANS, La.— Finance Authority of New Orleans (FANO) has relocated its office to the Place St. Charles building at 201 St. Charles Avenue, Suite 4444, in New Orleans. With this new location, FANO is housed in the heart of downtown New Orleans’ financial district, within one-­‐half block of branches of the three largest banking institutions in Louisiana.

This relocation is happening on the heels of FANO’s transition to a new business model that focuses on resiliency efforts in the community. The model presents a strategic plan that will finance the deployment of energy efficiency, storm water management, and green infrastructure projects for homeowners, businesses and local governments.

“We’re extremely excited about our new business model,” said Damon Burns, FANO’s president and CEO. “One facet of FANO’s new model offers homeowners Green mortgages that assist with funding to help protect their homes from inclement weather and potential natural disasters,” Burns said.

FANO is supporting the City of New Orleans’ climate resilience goals to embrace environmental change, create new job opportunities for distressed communities and physically transform the city to better handle natural disasters. In the current climate, FANO sees the opportunity to make the city more financially resilient, as well as develop a sound infrastructure for generations to come.

“Because New Orleans and the surrounding areas face climate challenges, unlike any city in the U.S., and with sea levels potentially rising over 10 feet within the next 100 years, the City of New Orleans is being proactive ensuring a functional New Orleans for future generations, and FANO is happy to do our part to support the City’s efforts,” Burns said.

For over 40 years, FANO has been committed to making homeownership possible for more families in New Orleans; and FANO will continue to build on that mission by evolving its efforts to make New Orleans a more sustainable city. For more information about the Finance Authority of New Orleans, please contact us at (504) 524-5533 or visit financeauthority.org.

News
2017 Accomplishments With Board President Gizelle Johnson-Banks

Over the past year, the Finance Authority of New Orleans, board and staff under the leadership of our Executive Director Damon Burns, has worked conscientiously to REBRANDREVITALIZE and REINVENTitself in 2017. The work has been consistent and at times difficult and has taken the dedication of the entire team in bringing forth the following highlights and accomplishments:

REBRANDING – FANO has launched a successful rebranding campaign that has included a new logo, bold new colors an updated mission to improve the quality of life in the city of New Orleans by directly investing in the creation of affordable housing and economic development projects that produce quality jobs and wealth for residents. The rebranding campaign included a launch at the New Orleans Jazz Market that drew New Orleans citizens, City leaders, realtors, lenders, developers and many of our partners in the housing arena.

REVITALIZATION – FANO has revitalized its Partnerships with the City of New Orleans, Housing Authority of New Orleans (HANO), New Orleans Redevelopment Authority (NORA), and a number of diverse organizations, neighborhoods and agencies across the city including, The Greater New Orleans Housing Alliance (GNHOA), Neighborhood Housing Services (NHS), Neighborhood Development Foundation (NDF) and many others.

REINVENTION – In 2017 FANO has reinvented its signature homebuyer program, rebranded, “Own New Orleans”, that allows homebuyers to acquire downpayment assistance on 1 or 2 unit, single family homes. We are also developing new initiatives with our partners and the City’s Office of Resilience, while we continue to reinvent our longstanding programs to ensure that our mission is fully realized.

News
Moody's upgrades to Aaa the rating of New Orleans Finance Authority, LA Qualified Mortgage Revenue Bonds 2006A

Moody's Investors Service has upgraded the ratings of the New Orleans Finance Authority, LA Qualified Mortgage Revenue Bonds 2006A to Aaa from A2. Approximately $4.1 million in debt is affected.

RATINGS RATIONALE

The upgrade to Aaa is based on the upgrade of the Guaranteed Investment Contract ("GIC") Provider Bayersiche Landesbank to A1/P-1 Stable. The A1/P-1 rating on the counterparty can support up to a Aaa on the bond program.