Abstract
The portion of the $40 million Better Buildings award directly administered by the New York State Energy Research and Development Authority (NYSERDA) is fully integrated with Green Jobs-Green New York (GJGNY). NYSERDA has committed most of the Better Buildings funding that it is administering to a Loan Loss Reserve (LLR) for a Revolving Loan Fund (RLF) that is capitalized by GJGNY. In addition, the City of New York, which has received a sub-award through NYSERDA in the amount of $21.4 million, received NYSERDA approval on their Strategy Memo outlining NYC’s financing plan for implementation. Based upon NYSERDA’s approval of the Strategy Memo, approximately $17.8 million in ARRA funds were released to fund NYC’s Loan Loss Reserve and Revolving Loan Fund.
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