Enterprise Receives Green Funding Boost

BALTIMORE-Locally-based Enterprise Community Partners, a provider of affordable housing–and increasingly, green–finance, has received a grant from Citi Foundation that will have a multiplier affect on Enterprise’s lending activities. Specifically, Citi Foundation, which is part of CitiFinancial North America, awarded Enterprise a $500,000 grant for its Green Communities initiative–an endeavor to support green building for low-income people.

Since it was established a few years ago, Green Communities Initiative has invested more than $570 million in grants, loans and equity for sustainable housing. The grant of $500,000 “is a sizable amount for our grant funding activities,” Dana Bourland, senior director of the Enterprise Green Communities initiative, tells GlobeSt.com. Of the $570 million, $530 million is equity investment in development. The remainder is funding for low interest loans and grants for development. Grant funds are used to support initial plans for affordable green housing, including hard construction cost, she says.