The city of St. Louis, in partnership with Missouri Green Banc has received a $250,000 grant from the Municipal Investment Fund to develop public-private partnership plans for building an innovative pipeline of investments to bring down energy prices for St. Louisans.
The Coalition for Green Capital, which is supported by ICLEI – Local Governments for Sustainability USA (ICLEI USA), created a public-private partnership to accelerate the development and construction of smart infrastructure projects across the country.
St. Louis was selected along with 49 other communities out of 114 applicants across 48 states, the District of Columbia, Puerto Rico, and tribal nations.
Participation also could lead to $2 million in additional funding to accelerate energy projects that benefit St. Louis residents and businesses.
“St. Louisans suffer when energy bills soar and our weather gets more extreme,” said Mayor Cara Spencer.
“By participating in this program, our community can take a leading role in addressing these problems that affect our day-to-day lives. This funding and public-private partnership will help us move toward affordable, reliable, and clean energy solutions for our community.”
John Harris, Missouri Green Banc president, said “This funding means lower energy bills, stronger neighborhoods and workforce, and a more resilient local economy.”
St. Louis was selected because of the potential direct impacts the projects could have on the community, according to the sponsoring organization.
The grant is designed to assist St. Louis in developing “a smart, competitive and ultimately cost-effective plan that will be a win-win for both the community and potential investors,” according to Richard Kauffman, CEO of the Coalition for Green Capital.
“We are honored to provide funding to communities across the United States under the MIF program so they can take initial steps toward bringing America clean, affordable energy in this time of crisis. We congratulate the winners of this vigorous competition. They are real heroes,” he said.