Funded by the Great Lakes Protection Fund (GLPF), this ongoing project seeks to explore various transactional frameworks available for partnerships of public organizations and private-sector funders, for large-scale adoption (more than $50 million per municipality) of green infrastructure in the Great Lakes basin.
For this project, frameworks used for incorporating private delivery and finance include a traditional community-based public-private partnership (CBP3) setup, environmental impact bonds (EIBs), credit trading, stormwater banks, or a combination thereof. This project has the following objectives:
- Form an advisory board, assess market size, and identify early adopters in the green stormwater infrastructure market.
- Work with high-priority communities to identify revenue streams, develop business plans, and where appropriate, propose CBP3s or EIBs.
- Develop transactional frameworks, clarify contractual relationships, and help with CBP3 or EIB agreements.
- Develop a CBP3 pipeline, evaluate CBP3 and EIB executions across the country, and carry out knowledge transfer and outreach.
To date, the project team has worked with Milwaukee Metropolitan Sewerage District, Northeast Ohio Regional Sewerage District, and the City of Cleveland. For these public entities, ECT has crafted community-specific business plans that entail their priorities regarding green infrastructure, their past work on the topic, existing or upcoming ordinances that assist or hinder, capital and operating budget outlays, transactional frameworks, success as defined by these communities and their potential private funder(s), and a path forward.