City of Novato

Solar Financing
Tax-Credit Program

Project Highlights

The City of Novato was one of 18 Marin County public agencies that received clean and renewable energy bond credits (“CREBs”), which allowed public agencies to raise capital for solar projects on public buildings in exchange for the sale of tax credits (similar to tax-exempt bonds). Given this specialized and unique financing structure, NHA Advisors worked with the City to develop a financing plan that allowed a portion of the identified projects to be completed based on cost, energy savings, and financial benefits.

The City took advantage of lower CREB rates offered by a private placement provider to fund a small project in order to achieve a portion of its policy goals for renewable energy on some of its public facilities.

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