At the New England Parking Council’s annual conference earlier this month, we presented on “Parking and Climate Resiliency,” including financing tools for green infrastructure (including parking, of course!).
The biggest opportunity, especially for parking garages and lots, lies in incentives and tax credits for reducing stormwater runoff and water pollution. Similar to Low Income Housing Tax Credits (LIHTCs) and Social Impact Bonds, mechanisms like Stormwater Retention Credits (SRCs) and Environmental Impact Bonds (EIBs) provide powerful revenue opportunities.
To learn more, the EPA is an excellent source of information on green infrastructure strategies and financing structures.
And for a detailed example of how SRCs are being used in large municipalities, check out Washington D.C.’s SRC Trading Program.
As always, we’re happy to share more information and resources to help you create a greener built environment.