Sustainable Land Development Today - September 2008 - (Page 17)

Mark Bowman, ShoreBank Enterprise Cascadia that is one place where there is some level of quantifiable measurement made possible through the Leadership in Energy Efficient Design (LEED™) program implemented by the United Green Building Council (USGBC). That system has gotten a lot of traction within the institutional investment community. It has name recognition and is something that financial professionals can point to and say they understand. “For them, they want to see some sort of third-party certification,” Galley said. “However, I think there are many very good developments that could be sustainable that might not necessarily be certifiable under green building programs. In any event, the groups that I have been working with want these certifications.” The hot discussion within the financial world is the establishment of standards. The concepts could be sold to banks and financial institutions which proponents feel will be the primary way to attain the buy-in and participation of the investment houses into sustainability. “I would say to the members of SLDI need to be on the look out for this,” she said. “Right now the big movement in the finance world is of consortiums of groups trying to create such standard frameworks.” Meanwhile some community and regional banks advance local loan programs, which take into account a real estate project’s green features. Where such programs exist, according to Galley, the most notable underwriting criteria centers on savings created by the level of energy efficiency of the project. Not your typical bank An example of a regional lender that performs a role quite different from banks that traditionally offer lending services and checking accounts is ShoreBank Enterprise Cascadia. With offices in Washington and Oregon, this non-profit affiliate of ShoreBank-Chicago is a mission-based, 501c3 lender, called a Community Development Financial Institution (CDFI). In 2007, ShoreBank Enterprise Pacific, a rural-based, non-profit lender, merged with a similar organization, Cascadia Revolving Fund, which had a more urban-based mission, to form ShoreBank Enterprise Cascadia. “I think we were the first two CDFIs in the country to merge,” said Mark Bowman, senior lender. “We had an existing relationship, similar missions, and were in a similar region; it was a good growth move and would strengthen our ability to serve others.” “We are not governed by state or federal regulations as are traditional banks,” he said. “That allows us to have a higher risk tolerance to do deals that traditional banks can’t do. It allows us to be creative and flexible in our terms and pricing.” With multiple sources of funds— grants and low-interest loans, from foundations, private individuals, and government like the US Treasury, State of Washington and US Department of Sustainable Wastewater Solutions for the Decentralized Market Turnkey Solutions provided in the Southeast Design Services, Products, and Operation Support offered nationwide V V V denus Circle 173 • or www.SLDTonline.com/webcard ® 1-888-4ADENUS ~ www.Adenus.com www.SLDTonline.com 17 http://www.Adenus.com http://www.Adenus.com http://www.SLDTonline.com/webcard http://www.SLDTonline.com

Table of Contents Feed for the Digital Edition of Sustainable Land Development Today - September 2008

Sustainable Land Development Today - September 2008 Contents Our Voice The Bottomline Editorial Board SLDT Resources Digging Deep Oases of Capital Build a Better Business on an Interactive, Virtual Landscape Regulation SLDI in Focus �� SLDI Sponsored Summit �� Workshops �� Bookstore Tee’d Up for Sustainability Retention Solutions Wastewater Redevelopment Industry News Marketplace Products/Services Showcase Advertiser Index The Last Word

Sustainable Land Development Today - September 2008

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