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Think tank urges San Francisco to pair public bank with IRA 'direct pay to finance clean-energy projects
Summary
The Center for Public Enterprise told LAFCO that a San Francisco public bank could provide construction finance and technical capacity to monetize Inflation Reduction Act elective pay for tax-exempt city projects; presenters highlighted no per-project cap on elective pay but noted domestic-content rules and a 15% reduction if tax-exempt bonds finance a project.
Advait, an energy-policy associate with the Center for Public Enterprise (CPE), presented to LAFCO on March 15 on how a San Francisco public bank could accelerate local clean-energy development by combining construction finance with the Inflation Reduction Act's elective (direct) pay provisions.
CPE described a public bank that issues financing, takes equity stakes in troubled projects, and operates revolving funds to lower the cost of capital for projects that otherwise would be difficult to finance privately. "A public…
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