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BIG DEALS - To fix fiscal gaps, cities are playing around with more creative solutions.
GOVERNING Magazine, March 2012
"[Transactions] must be done smartly and transparently ... Class Green Capital Partners ... is a specialized municipal advisory firm that helps cities get low-cost capital through real estate and infrastructure properties ... The new reality in the public sector is that with rising health-care and pension costs 'if municipalities didn't do something to plug budget holes as a bridge to try to cure structural deficits, they would go out of business.'" |
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Cities Deep in Red Turn to Green Deals
Wall Street Journal, September 9, 2011
"Cities and states have been firing workers and raising taxes to balance the books. But for some of the shakiest cities, those moves aren't enough. Enter Class Green Capital Partners, a New York financial adviser to municipalities ... few strategies are as unconventional as Class Green's, which has been employed in Newark, N.J. and Providence, RI" |
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Newark Mayor Booker Employs "Green Monetization" to Fund Budget, Improve Buildings
U.S. Mayor, April 25, 2011 (Transaction closed December 2010)
"This creative transaction helped us balance short and long term needs. We met pressing funding requirements, while at the same improving the operating and environmental performance of key city properties." |
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$35-million loan for Providence has a 'green' element
The Providence Journal, January 31, 2011 (Transaction closed April 2011)
"The state capital may be the second city in the country to use an unusual borrowing plan to help plug its budget deficit while also making energy improvements to city buildings to create long-term savings." |
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