Byron B. Badger,
Vice President & Chief Business Officer
Open Request for Information (Open RFI) 003-2022 – for Green Finance Solutions
Finance New Orleans (“FNO”) seeks financial solutions from investment banks and capital providers that will help accelerate the City of New Orleans’ climate resilience efforts by annoucing an Open Request for Information (RFI) for Green Finance Solutions. This open RFI is targeted toward investment banks and capital providers interested in providing financial solutions to support the following initiatives:
- Financial solutions, including Direct Purchase and Underwriting solutions, for FNO’s proposed $15 million Community Impact Bonds, which are being issued to increase FNO’s lending capacity for underserved groups of potential homeowners and affordable housing developers; and
- Financial solutions, including Direct Purchase and Underwriting solutions, for FNO’s ongoing Sustainable Housing and Resilient Infrastructure programs, including municipal bond issuance strategies, credit enhancement, tax credit equity, and other public financing tools.
We will be accepting proposals beginning July 1, 2022. The open RFI can also be found on our main website, www.financenola.org under, Opportunities.
Finance New Orleans
Since 1978, Finance New Orleans has made homeownership more possible for New Orleanians by providing mortgage financing and credit enhancement for affordable housing. In response to a series of natural and economic disasters, FNO launched its new Strategic Plan in 2020, offering various financing products and services aimed at creating housing that is more affordable, equitable, and resilient for all New Orleanians, particularly those historically excluded from wealth-building and economic opportunities.
FNO Community Impact Bond
The FNO Impact Bond will capitalize loan loss reserve funds that allow FNO to offer single-family green mortgages to lower credit borrowers, and bond financing to Disadvantaged Business Enterprises developers – those with socially and economically disadvantaged backgrounds. Under the EIB protocol, achieved outcomes will be quantified and disclosed annually.
