Project Grant 84094401

DESCRIPTION:THIS AGREEMENT PROVIDES FUNDING UNDER THE INFLATION REDUCTION ACT (IRA) TO APPALACHIAN COMMUNITY CAPITAL CORPORATION. THE RECIPIENT WILL UTILIZE THE FUNDING TO REDUCE EMISSIONS OF GREENHOUSE GASES AND OTHER AIR POLLUTANTS; DELIVER BENEFITS OF GREENHOUSE GAS- AND AIR POLLUTION-REDUCING PROJECTS TO AMERICAN COMMUNITIES, PARTICULARLY LOW-INCOME AND DISADVANTAGED COMMUNITIES; AND MOBILIZE FINANCING AND PRIVATE CAPITAL TO STIMULATE ADDITIONAL DEPLOYMENT OF GREENHOUSE GAS- AND AIR POLLUTION-REDUCING PROJECTS. SPECIFICALLY, THE RECIPIENT WILL FUND CLEAN ENERGY INVESTMENTS CONSISTING OF MANY PROJECTS ACROSS DISTRIBUTED RENEWABLE ENERGY GENERATION AND STORAGE, NET-ZERO EMISSIONS BUILDING CONSTRUCTION AND RENOVATION, AND ZERO EMISSION VEHICLES. IN ADDITION, THE RECIPIENT WILL UNDERTAKE ROBUST COMMUNITY ENGAGEMENT AND WORKFORCE DEVELOPMENT. THE BENEFITS FROM THESE ACTIVITIES INCLUDE LEVERAGING LARGE AMOUNTS OF PRIVATE CAPITAL IN APPALACHIA, RURAL AMERICA, AND OTHER LOW-INCOME AND DISADVANTAGED COMMUNITIES, MARKET TRANSFORMATION BENEFITS ALLOWING FOR GREATER ACCESS TO CAPITAL, BETTER HEALTH OUTCOMES FOR AMERICANS, AND MUCH NEEDED JOB CREATION. ACTIVITIES:THE ACTIVITIES INCLUDE FUNDING CLEAN ENERGY PROJECTS THROUGH COMMUNITY LENDERS. THE TYPE OF PROJECTS INCLUDE DISTRIBUTED RENEWABLE ENERGY GENERATION, NET-ZERO EMISSIONS BUILDING CONSTRUCTION AND RENOVATION, AND ZERO EMISSION VEHICLES. COMMUNITY ENGAGEMENT AND WORKFORCE DEVELOPMENT THROUGH TECHNICAL ASSISTANCE PASS-THROUGH GRANTS WILL ALSO BE A LARGE PART OF THE AWARD.SUBRECIPIENT:THE SUBAWARD WILL BE AWARDED TO GREEN BANK FOR RURAL AMERICA, A SUBSIDIARY OF APPALACHIAN COMMUNITY CAPITAL. THE GREEN BANK FOR RURAL AMERICA WILL BE CARRYING OUT THE ACTIVITIES LISTED IN PREVIOUS SECTIONS WHILE APPALACHIAN COMMUNITY CAPITAL WILL ACT IN AN ADMINISTRATIVE AND STEERING CAPACITY. THOSE ACTIVITIES, TO REITERATE, INCLUDE FUNDING CLEAN ENERGY PROJECTS THROUGH COMMUNITY LENDERS. THE TYPE OF PROJECTS INCLUDE DISTRIBUTED RENEWABLE ENERGY GENERATION, NET-ZERO EMISSIONS BUILDING CONSTRUCTION AND RENOVATION, AND ZERO EMISSION VEHICLES. COMMUNITY ENGAGEMENT AND WORKFORCE DEVELOPMENT THROUGH TECHNICAL ASSISTANCE PASS-THROUGH GRANTS WILL ALSO BE A LARGE PART OF THE AWARD.OUTCOMES:THE ANTICIPATED DELIVERABLES INCLUDE FINANCED CLEAN ENERGY-RELATED PROJECTS, COMMUNITY ENGAGEMENT SERVICES (INCLUDING PUBLIC AND PRIVATE CAPITAL), AND WORKFORCE DEVELOPMENT SERVICES (INCLUDING PUBLIC AND PRIVATE CAPITAL). THE EXPECTED OUTCOMES INCLUDE GREENHOUSE GAS AND OTHER POLLUTANT REDUCTION, LARGE AMOUNTS OF PRIVATE CAPITAL MOBILIZED, MANY NEW JOBS CREATED, JOB TRAINING SERVICES, AND A LARGE NETWORK OF COMMUNITY LENDERS SUPPORTED THROUGH THE AWARD. THESE OUTCOMES ARE PROJECTED TO CONTINUE AFTER THE AWARD PERIOD. THE INTENDED BENEFICIARIES INCLUDE APPALACHIAN COMMUNITIES, RURAL AND LOW-INCOME AND DISADVANTAGED COMMUNITIES NATION-WIDE, BUSINESS OWNERS, HOMEOWNERS, AND BENEFICIARIES OF AFFORDABLE HOUSING. A REDUCTION IN ENERGY BURDEN AND GREENHOUSE GASES WILL BENEFIT THE AMERICAN PUBLIC AT LARGE.