On the heels of the nation’s first Environmental Impact Bond (EIB) offered by DC Water, two cities will have the opportunity to issue the first publicly offered EIBs. The competition is a collaborative effort by Neighborly, an online service designed to help individuals invest in municipal bonds, and the Rockefeller Foundation.
By developing a methodology to bring these bonds to the public market, Neighborly hopes to reduce dependency upon philanthropic expenditures by broadening the investor base and standardizing the process of issuing municipal EIBs.
The competition seeks applications from cities, municipalities and agencies that are interested in using innovative financing techniques to pilot resilience projects. While green infrastructure proposals will be given preference, applicants may also propose other resilience-related projects.
The Request for Proposal (RFP) was released this summer with applications due on September 15. Selections will be made in early fall. If you are interested in participating, you can find more information, as well as the RFP form here.