PIDC seeks lender of greenbacks for Greenworks

The Philadelphia Industrial Development Corp., the quasi-public agency charged with securing financing for most of the city’s large public projects and attracting major development opportunities, is seeking lenders for the city’s Greenworks program.

At least two funds will be created, according to the PIDC Web site, which currently lists two corresponding requests-for-proposals. The Greenworks Loan Fund will provide traditional financing. The Greenworks Pilot Energy Technology Fund will provide green grants.

From PIDC Web site:
Project Name: Non-Profit Lending Partner
Description: The Philadelphia Industrial Development Corporation, (“PIDC”), on behalf of the City of Philadelphia is soliciting proposals for one or more non-profit lending institutions and/or certified community development financial institutions (“CDFI”) to assist PIDC in administering, and managing the Greenworks Loan Fund (the “Fund”). The Fund will offer construction loans, term loans, and lease financing to support: energy efficient retrofits of existing commercial, industrial, mixed-use, and institutional properties and energy efficient building practices in new construction projects.

Project Name: Greenworks Pilot Technology Fund Administrator
Description: The Philadelphia Industrial Development Corporation (“PIDC”) on behalf of the City of Philadelphia (the “City”) is soliciting proposals from one or more qualified organizations or individuals to assist PIDC in designing and implementing the Greenworks Pilot Energy Technology Fund (“G-PET”). Through G-PET the City will provide grants to companies to support the installation and management of pilots of new energy efficiency technologies. These technologies could include but are not limited to heating, cooling, and lighting systems, insulation, energy management systems, or high-efficiency doors, windows, and sealants.

– Posted by Thomas J. Walsh