News
San Francisco recycling project to save 30 million gallons of drinking water per year
San Francisco Chronicle – July 23
For decades, BART officials treated the naturally percolating groundwater that pools beneath the Powell Street Station in San Francisco as a nuisance and a potential flooding risk, pumping millions of gallons into the city’s sewer system. One of the largest water users in the city, Clearway Energy, saw a precious resource going to waste and an opportunity to reduce its substantial water bill. The center provides steam heat to about 180 downtown buildings. With the help of a $500,000 grant from the San Francisco Public Utilities Commission, Clearway Energy installed a 1,000-foot pipeline and replaced aging sump pumps to transport the groundwater to its plant, instead of into the sewer system. The energy center started processing the recycled water this year and is on track to save around 30 million gallons of drinking water annually.
California’s $1B solar incentives target affordable housing
Commercial Property Executive - July 18
A new California initiative is aiming to raise the profile of solar power in an underserved sector. Launched July 1, the Solar on Multifamily Affordable Housing (SOMAH) program will provide as much as $100 million in financial incentives annually for affordable communities. More than 3,500 properties comprising some 255,000 households are expected to qualify. In the first week after it launched, SOMAH received some 200 applications representing 70-plus megawatts of capacity. SOMAH aims to install 300 megawatts of photovoltaic panels by 2030, a significant contribution to the state’s goal of carbon-free energy by 2045.
California Department of Insurance and U.N. to develop sustainable insurance roadmap
Insurance Journal - July 23
The California Department of Insurance and the United Nations Environment Program on Tuesday announced the launch of a yearlong effort to develop a “Sustainable Insurance Roadmap” to confront California’s climate risks. This is reportedly the first time the U.N. has partnered with an American state to create a sustainable insurance strategy and action plan that would tackle the growing risks of climate change. The California Sustainable Insurance Roadmap is envisioned as a way to encourage innovative risk management, insurance, and investment solutions that reduce climate risks and protect natural ecosystems.
Lawsuit seeks to stop L.A. from seizing and discarding homeless people’s belongings
Los Angeles Times – July 18
In the latest salvo in Los Angeles’ long-running battle over encampment sweeps, seven homeless people filed suit last Thursday asking a federal judge to stop the city from destroying property seized from tents and lean-tos on city sidewalks. The federal civil rights lawsuit seeks to strike down a city ordinance that allows sanitation crews to throw out so-called bulky items found in the streets. The lawsuit comes as homelessness continues to surge in Los Angeles, despite billions of dollars in state aid and voter-approved tax measures to open shelter beds and build subsidized housing, and amid a burst of legal action over enforcement in homeless camps.
Fannie Mae and Freddie Mac offer more competitive terms on “green” and “affordable” loans
National Real Estate Investor – July 23
Freddie Mac and Fannie Mae are on track to lend more money to multifamily properties in 2019 than they did last year. Earlier this summer, experts worried that Fannie Mae might hit the limit on how much money government officials allow the company to invest in conventional, permanent loans on apartment properties. As a result, Fannie Mae has changed its incentives to steer more apartment buyers to take out loans on apartment properties that count as affordable housing or energy-efficient “green” properties, which do not count towards Federal Housing Finance Agency limits. In 2019, to participate in the green lending program, borrowers need to cut the water and energy used at their buildings by 30 percent—up from 25 percent last year.
|