Per Montgomery County:
For Immediate Release: Friday, November 12, 2021
Bill 44-21 will create loan and grant opportunities for the building sector to make retrofits to reduce greenhouse gas emissions
ROCKVILLE, Md., Nov. 12, 2021 — Council President Tom Hucker and Councilmember Andrew Friedson will be joined by climate advocates and industry leaders for a press conference to announce major climate legislation on Monday, November 15, at 11:30 a.m.
Spearheaded by Council President Hucker and Councilmember Friedson, and cosponsored by Councilmember Hans Riemer, Bill 44-21, Montgomery County Green Bank – Funding – Fuel-Energy Tax Revenue, sets forth a way for Montgomery County to leverage substantial private sector investment in support of the County’s clean energy and climate mitigation goals by dedicating 10 percent of the County Energy Tax revenues, nearly $20 million annually, to the Montgomery County Green Bank.
The Green Bank will leverage the funds in the private and public markets to provide much greater access to capital that can support the clean energy financing needs in our County. This will be a critical financing tool for energy retrofits of commercial and multifamily buildings and support addressing greenhouse gas emissions across the building sector. The Council will introduce the bill during the afternoon session of its Council meeting on Tuesday, Nov. 16.
“We will never meet our ambitious climate goals without dedicated funding and a concerted partnership with our private sector,” said Council President Hucker. “If enacted, this bill would allow the Green Bank to invest millions to green our infrastructure and provide upfront capital for property owners to make critical energy efficiency improvements. This will spark a real and vigorous effort to make much-needed retrofits in our older buildings.”
“We know there’s significant interest in energy efficient projects and a dire need given our climate crisis. This proposal will help address the lack of resources which too often prevents progress so we can help those who want to reduce their carbon footprint but lack the capacity to do so,” said Councilmember Andrew Friedson. “By working collaboratively with residents and businesses and utilizing the unique strength and competency of the Montgomery County Green Bank, we can bridge the gaps that exist in the marketplace and build a greener future together.”
- Council President Tom Hucker
- Councilmember Andrew Friedson
- Tom Deyo, Chief Executive Officer at Montgomery County Green Bank
- Brian Haaser, President of Glen Manor Condominium
- Diana Younts, Montgomery County (MoCo) Climate Action Plan Coalition
Front steps of the Montgomery County Council Office Building at 100 Maryland Ave. Rockville, MD 20850. Parking information and directions available here.
Monday, November 15 at 11:30 a.m.
Members of the media who wish to join must RSVP by 10 a.m. on Nov. 15 by emailing Genevieve Kurtz at Genevieve.Kurtz@montgomerycountymd.gov.
The event will be livestreamed and the public can watch through Council President Hucker’s Facebook page (@CMHucker) or the Montgomery County Council Facebook page (@MontgomeryCountyMdCouncil).
For more information contact: Genevieve Kurtz, communications director, Office of Council President Hucker at Genevieve.Kurtz@montgomerycountymd.gov or 240-422-4582.
Sonya Healy, legislative information officer, at Sonya.Healy@montgomerycountymd.gov or 240-328-2069.
About the Montgomery County Green Bank
The Green Bank helps the County reach its environmental goals by working with lender partners to provide residents and businesses with better loan rates, terms, and credit access for clean energy projects. These projects are essential for energy conservation, lowering emissions and creating a more resilient economy and environment.Release ID: 21-462
Media Contact: Genevieve Kurtz, 240-422-4582 , Sonya Healy 240-777-7926