Hampton, VA is paying for initiatives to combat flooding with private Environmental Impact Bonds
Hampton, VA private Environmental Impact Bonds
The City of Hampton is launching new initiatives to combat flooding and paying for them through Environmental Impact Bonds. The $12 million bond was issued by a partnership between the Qualified Ventures firm and the non-profit Chesapeake Bay Foundation. These private investments cover the cost of projects that benefit the community upfront but require the city to report outcomes and pay back the investment over time. Hampton is only the third city in the U.S. to use Environmental Impact Bonds.
Links
What is an Environmental Impact Bond? | Quantified Ventures | Quantified Ventures
An Environmental Impact Bond is an innovative financing tool that uses a Pay-for-Success approach to provide capital from private investors for environmental projects.
Homepage - Chesapeake Bay Foundation
Saving the Chesapeake Bay and its rivers and streams through education, advocacy, litigation, and restoration.
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