Hello NeighborWorks members,
I want to provide you with an update on our “green” work. As we have discussed before, NeighborWorks Capital (and, by extension, NeighborWorks America and the network) has a prominent role in the Greenhouse Gas Reduction Fund’s National Community Investment Fund (NCIF). Specifically, NeighborWorks Capital, through its’ NeighborWorks Capital Green subsidiary, has a significant role in Climate United. Our role is threefold:
- Engaging in national market-building work (in collaboration with NeighborWorks America) to ensure Climate United’s resources are equitably distributed.
- Building a national CDFI channel to make Climate United’s multifamily products available in communities across the country.
- As a lender of multifamily products to members of the NeighborWorks network.
In all this work, we will seek to keep network members at the forefront as Climate United’s resources are released. NeighborWorks Capital Green will work to ensure members of this network have access to all of the resources available through Climate United. In addition, given our unique role, we expect to be able to test some new products and solutions with this network before they are available generally.
This quarter, we have been working with Climate United to establish our workplan and final grant agreement with them. We hope to finalize our scope of work in December and have the signed agreement soon thereafter. In the meantime, we have been moving forward on other fronts.
A new resource for you: Jay Wilson, Director, Green Initiatives
We are pleased to welcome Jay Wilson as our inaugural Director, Green Initiatives. Jay began his new role on October 15, and he will lead our participation with Climate United to deploy the EPA’s GGRF investment.
Jay’s strong technical knowledge of green buildings and leadership experience in building new initiatives and lines of business will boost NeighborWorks Capital’s capacity as we launch our work building a CDFI lending channel with Climate United.
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In his new role, Wilson will build, implement, and lead our GGRF program, ensuring that CDFIs, developers, and owners of affordable multifamily properties have access to the knowledge and financial resources needed to incorporate measures that will reduce or eliminate on-site fossil fuels at their properties. He will lead our collaboration with Climate United and other partners to support the wider objective of ensuring that all communities have access to the capital they need to participate in and benefit from a cleaner, more sustainable economy.
Jay brings 20 years of experience in public and private sector green building initiatives. He has a strong base in affordable and multifamily housing, with extensive knowledge about green finance, sustainable design and renewable energy technologies, and climate adaptation and green building policy.
NeighborWorks Capital Green Advisory Board
The NeighborWorks Capital Green Advisory Board held its inaugural meeting in September to discuss the program’s timeline, budget, implementation plan, strategy, and next steps. Marietta Rodriguez, President & CEO of NeighborWorks America, provided an overview of their work nationwide, and Atalia Howe, SVP, Program Management at CPC Climate Capital, presented on Climate United. Members of the NeighborWorks Capital Green Advisory Board include:
- Lee Anne Adams, Senior Vice President, NeighborWorks America
Catherine Buell, Founder/Principal, Wellness Real Estate Innovations
Jose Cerda, Chief of Staff, IFF
Daniel Cunningham, (1) Owner and Principal, Development Preservation Consulting LLC, (2) Executive Director, Community Preservation Trust
Joe Evans, Portfolio Director and Social Investment Officer, The Kresge Foundation
Francesca Ioffreda, Founder & CEO, Breakthrough Strategy Partners
Florence (Flo) Ludka, CFO, Oweesta Corporation
John Moon, President, LISC Green
Benson (Buzz) Roberts, Retired
Abigail (Abi) Suarez, Executive Director, JP Morgan Chase & Co.
We look forward to bringing GGRF resources to this network. In addition to GGRF, NeighborWorks Capital is part of Inclusive Prosperity Capital’s Solar for All award, and we will be bringing those resources to you too. Stay tuned for more information and feel free to reach out if you have any questions.
