Atlanta: First Publicly Offered Environmental Impact Bond

Atlanta: First Publicly Offered Environmental Impact Bond

Atlanta’s Department of Watershed Management issued the first-ever publicly offered Environmental Impact Bond in partnership with Quantified Ventures, a Tap into Resilience partner. The $14 million bond closed on January 31, 2019, and is financing six green infrastructure projects to manage stormwater in economically and environmentally distressed neighborhoods that previously lacked access to funding.

The six GSI projects in the Proctor Creek Watershed will help manage stormwater, reduce local flooding, alleviate water quality impacts, increase access to green space, and create local green jobs. The EIB had a two-tiered performance structure and was highly rated by S&P (A+) and Moody’s (Aa3). The high performance threshold was set at 6.52 million gallons of capacity for stormwater capture. The cost-effective methodology validates the total capacity of the projects to capture stormwater through as-built surveys and aerial imagery once projects are complete.