DC United and DC Department of Energy and Environment Announce $25 Million in Green Funding through DC PACE

DC United, Mayor Muriel Bowser and the DC Department of Energy and Environment (DOEE) recently announced a $25 million private clean energy funding package for Audi Field, United's new soccer-specific stadium with capacity for 20,000 people opening next year. These measures are funded through DOEE’s Property Assessed Clean Energy (DC PACE) program, D.C.’s innovative green funding solution which operates through a public-private-partnership, allowing local lenders to fund environmentally beneficial projects at no cost to taxpayers. This innovative tool helps spur economic development while providing substantial environmental benefits that benefit the entire city. This deal, done through a partnership with locally-based EagleBank, marks the nation’s largest single PACE note issued to-date, and the first issued for a stadium project.

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Date Posted: 7/12/2017