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Hampton, VA is paying for initiatives to combat flooding with private Environmental Impact Bonds

Hampton, VA private Environmental Impact Bonds

Em andamento

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.

Finance Emergency Preparedness Public Private Partnership (PPP)

Hampton, VA

Municipality in Virginia

United States

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.

Newsworthy

City of Hampton uses innovative tool to fight flooding

Hampton is now moving forward with three projects to help fight flooding with a total cost of $12 million, but the money is coming from Environmental Impact Bonds. Private investment will put up the money, with the city paying back over time.

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