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SOURCE Community Capital Management, Inc.
Green Jobs - Green New York Program promotes energy efficiency and the installation of clean technologies to reduce energy costs and reduce greenhouse gas emissions.
FT. LAUDERDALE, Fla., Sept. 18, 2013 /PRNewswire/ -- Community Capital Management, Inc., a leading fixed income impact investing manager, announced today that it invested $1.76 million in the first issue of taxable municipal bonds to finance loans made by the New York State Energy Research and Development Authority (NYSERDA) to fund energy audits and energy efficiency improvements for eligible applicants pursuant to the Authority's Green Jobs – Green New York (GJGNY) program. The GJGNY program provides New Yorkers with access to energy assessments, installation services, low-cost financing for residential customers, and pathways to training for various green-collar careers.
The GJGNY program delivers services across the state and in targeted communities with the support of Constituency-Based Organizations (CBOs). Throughout New York State, numerous CBOs help homeowners through the process of improving their homes' energy efficiency. CBOs recruit residential, small businesses, Not-for-Profits, and multifamily building owners into the energy assessment and financing programs and encourage individuals to take advantage of clean energy training opportunities.
"Energy efficiency is an important first step in helping our environment. It encourages innovation, creates jobs, saves money and reduces our dependence on non-renewable resources," said Barbara VanScoy, chief impact investment officer at Community Capital Management. "We are very excited to participate in the Authority's first bond offering of the GJGNY program given its many benefits to the community and the environment."
The GJGNY Act was signed into law in October 2009 and uses revenue from the sale of carbon emission credits to support the program. Its goal is to create thousands of jobs across the state and help hundreds of thousands of families and businesses save up to a billion dollars annually in energy costs.
"NYSERDA is very proud of the innovative nature of the recent bond issue, which will help stimulate further growth of the clean-energy economy in New York State," said Jeff Pitkin, treasurer, NYSERDA. "Governor Cuomo's commitment to energy efficiency is spurring opportunities for investment through the market in projects that reduce energy use, save money and have positive impacts on the environment for years to come."
About Community Capital Management, Inc.
Community Capital Management, Inc. is an independently owned, client-focused, registered investment adviser. Headquartered in Fort Lauderdale, Florida with offices in Charlotte, North Carolina and Boston, Massachusetts, the firm was founded in 1998 and primarily focuses on managing fixed income impact investing strategies. Its clients include public funds, foundations, financial institutions, and faith-based investors. For additional information, please visit www.ccmfixedincome.com.
Community Capital Management, Inc. is a Florida-based investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
About the New York State Energy Research and Development Authority
The New York State Energy Research and Development Authority (NYSERDA) is a public benefit corporation created in 1975 under Article 8, Title 9 and Title 9A of the State Public Authorities Law through the reconstitution of the New York State Atomic and Space Development Authority. NYSERDA's earliest efforts focused solely on research and development with the goal of reducing the State's petroleum consumption. Today, NYSERDA's aim is to help New York meet its energy goals: reducing energy consumption, promoting the use of renewable energy sources, and protecting the environment. For additional information, please visit www.nyserda.ny.gov.
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