Green Project Reserve Loans ("GPR")
Historically, the capitalization grant agreement required the program to direct a portion of the capitalization grant towards projects that address green infrastructure, water efficiency, energy efficiency or other environmentally innovative activities. To the extent possible, it is the intention of the program to promote green projects within the state. The following incentives will be offered and will meet or exceed any requirement of the 2021 capitalization grant. All green project reserve terms may be subject to authority board action and are not guaranteed.
For more detailed green project reserve information including sample business cases please go to the green project reserve web page.
If green project reserve is offered, the following incentives apply:
Eligible green costs greater than or equal to 15%, but less than 20% of the total project cost, may receive a 1.5% loan interest rate up to a maximum of $3 million
Eligible green costs greater than or equal to 20% of the total project cost, may receive a 0.5% loan interest rate up to a maximum of $3 million
Leveraged loan projects over $3 million are eligible for the reduced interest rate on the first $3 million.