Press Release

FANO Changes Its Business Model To Address Climate Change

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June 5, 2019

Press Release

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.

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