The D.C. Council is considering a bill (B22-0257) that would establish the Green Finance Authority, charged with increasing the availability of public and private funding for clean energy, clean vehicles and infrastructure, energy efficiency, and green infrastructure. Under B22-0257, the D.C. Green Bank would:
- Establish administrative standards through guidelines, policies and procedures that specify borrower eligibility, terms and conditions of support, and other relevant criteria.
- Establish and adopt cost-effectiveness standards that projects must meet to be eligible for financial assistance.
- Set interest rates for loans that are no higher than necessary to secure lending institution participation and charge reasonable fees for the administration of loans.
- Provide technical, consultative and project assistance services to for-profit and nonprofit entities and charge reasonable fees for such services.
- Proceed with collective action to acquire property in lieu of collection.
- Establish performance targets for its sustainable projects and programs.