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Staff outlines funding sources: RGGI, state grants, ARPA, IIJA and EIB financing
Summary
Presenters summarized available funding: the RGGI-funded Community Flood Preparedness Fund, ARPA allocations, IIJA grant opportunities and the 2020 environmental impact bond that financed pilot projects; staff noted $32.3M awarded from the state fund and local leverage opportunities.
Carolyn Heaps walked council through the funding landscape that supports resilience work. She said the Regional Greenhouse Gas Initiative (RGGI) generated a Community Flood Preparedness Fund (staff cited more than $102 million generated since March 2021 and $32.3 million awarded so far), and that the city had received multiple awards through that program. Heaps also identified $25.7 million of local ARPA funding directed toward living-with-water projects and referenced federal IIJA grant lines described in the presentation as large-scale opportunities for resilience funding.
Staff pointed to the city's 2020 environmental impact bond (EIB), which provided $12 million to finance the three pilot projects and required transparent outcome evaluation. City leaders discussed the need to align TMDL-driven water-quality investments (staff cited an estimated $124 million for TMDL improvements) with resilience projects to achieve multiple benefits and leverage funding where possible.
