Impact investing has increasingly grown in popularity in recent years. More and more companies are looking to generate social and environmental return on investment alongside financial gain. But blending impact with your financial goals can be challenging.
Also known as socially responsible, sustainable, double, triple (or quadruple) bottom line, or ethical investing, impact investing is defined by the Global Impact Investing Network as “investments made into companies, organizations, and funds with the intention to generate measurable social and environmental impact alongside a financial return.” Social finance, or impact investing, is an increasingly important complement to governmental and philanthropic aid in addressing social and environmental issues facing communities around the world. In social finance transactions, both traditional and innovative financing tools use private and/or philanthropic capital to solve social problems while at the same time delivering financial return. Even in the face of shrinking public budgets, social finance innovations can enable policymakers to use resources more efficiently and improve services for disadvantaged populations while providing socially minded investors with attractive investment opportunities.
Counsel to buyers, suppliers, developers, and financing parties in the commercial and intellectual property aspects of renewable and alternative energy technology transactions and investments in, among others, the wind, biomass and gas-to-liquids fields.
Represented client in the development of first utility-scale solar project in Connecticut, including representation in the regulatory proceedings to obtain a long-term contract and approval for the siting of the facility.
Represented client in the development of largest fuel cell facility in the United States, including representation in the regulatory proceedings to obtain a long-term contract and approval for the siting of the facility.
Represented clients in Department of Public Utility Control proceeding to obtain long-term electricity Purchase Agreements for Class I renewable energy projects and in Connecticut Siting Council proceedings to obtain approval of the construction and operation of the projects.
Representation of a national bank as construction lender and Freddie Mac seller/servicer concerning the $66 million financing of the rehabilitation of Kuhio Park Terrace Towers in Honolulu, Hawaii, Hawaii's largest public housing project. This redevelopment was financed with tax-exempt bonds issued by the Hawaii Housing Finance and Development Corporation, federal and state low income tax credits, and subsidy financing from the Hawaii Public Housing Authority. Rent support for the project is provided through an Annual Contributions Contract and a Housing Assistance Payment Contract from the U.S. Department of Housing and Urban Development.
Representation of national bank as bond purchaser concerning Sheridan Station Apartments, $27 million redevelopment of a former public housing project site in Washington, D.C., into a mixed-income housing development. The development was financed with tax exempt bonds issued by the District of Columbia Housing Finance Agency, Federal Low Income Tax Credits, American Recovery and Redevelopment Act stimulus funds, and HOPE VI funds provided through the District of Columbia Housing Authority, a subsidy loan from the District of Columbia office of the Deputy Mayor for Planning and Economic Development and a U.S. Department of Energy grant.
Represented client in connection with its investment in a provider of corporate philanthropy solutions.