CE+BFI Releases Financing Model Document on Qualified 501(c)(3) Bonds
May 20, 2014
Lew Milford, Toby Rittner | Clean Energy Group, Council of Development Finance Agencies
The Clean Energy and Bond Finance Initiative (CE+BFI), a project of Clean Energy Group and the Council of Development Finance Agencies (CDFA) released a new clean energy bond finance model. In this latest model document, CE+BFI examines Qualified 501(c)(3) bonds as a mechanism for communities with 501(c)(3) organizations seeking to undertake significant clean energy projects.
“Nonprofit bonds provide low-cost capital to schools, hospitals and other organizations,” said Toby Rittner, CDFA President & CEO. “These bonds are issued on a conduit basis, so there is no impact on the community’s credit.”
“501(c)(3) bonds are the most common type of private activity bond,” said Lew Milford, President of Clean Energy Group. “We can achieve tremendous scale by incorporating clean energy into nonprofits’ projects.”
This model document is one of a series recommended financing models from CE+BFI. The series is intended to provide state and local governments with a number of options for supporting and financing clean energy development in their communities.