Embracing the green economy can be a challenge. It encompasses everything from renewable energy and biofuels to weather stripping and low-flow shower heads. In light of the current economic recession, climate change and the Gulf Coast oil spill new conversations are emerging on ways to offer greater flexibility in financing sustainable real estate developments in the built environment. There is particular emphasis on affordable single and multifamily residential buildings.

On September 10, 2010 in Los Angeles the Federal Reserve Bank of San Francisco, Enterprise Community Partners, and the Federal Home Loan Bank of San Francisco sponsored the Green Affordable Housing Underwriting Forum to explore opportunities to promote green financing. Local and national developers, funders, and investment organizations came together for the day to engage in a series of dialogues around current lending and investing criteria for banks and investors and the need to creatively incorporate green financing that could result in establishing industry standards with the anticipated effect of increasing the value of their portfolios. Included were topics such as the use of an aggregate green building score, the need for credentials and training, and the possibility of new approaches to loan underwriting to achieve slight increases in up-front financing for longer terms and increased returns for investors.

Agenda (PDF - 210KB)

Roster (PDF - 149KB)

Exhibits

Panel 1: Green Affordable Housing: a Perspective from the Public Sector

Green Building Features of the State Tax Credit Program - William Pavão

Panel 3: Added Value of Green Affordable Housing to Investors

Valuation Techniques of High Performance Green Real Estate - James Finlay

Sustainable Investment Initiative - Capital Markets Partnership

Green Building Securities Agenda - Capital Markets Partnership

Green Building Securities Pilots - Capital Markets Partnership

Benefits of Green Building Underwriting

Panel 4: Experience from the Field

Green Affordable Housing Underwriting: Increasing Cash Flow - Community Corporation of Santa Monica

Casa Dominguez: A Green Affordable Success Story - Robin Hughes

Solar Energy for Affordable Green Housing - McCormack Baron Salazar