Avangrid foundation grant to help state housing developers gain energy data

A new $20,000 grant from the Avangrid Foundation, in partnership with Capital for Change Inc., will make it possible for more Connecticut housing developers to gain access to energy-efficiency feasibility studies.

The grant will have a positive impact on low- and medium-income Connecticut residents' ability to obtain affordable housing, by reducing certain costs that housing providers encounter when seeking such data, officials for both organizations said.

“Capital for Change is at the forefront of engaging new financial models, programs and initiatives to bring economic opportunity to the communities that need it most,” said Avangrid Foundation Executive Director Nicole Licata Grant.

“As the primary charitable arm of a company committed to a more equitable clean energy future, we feel it is important to invest in work that will ultimately reduce financial barriers to energy efficiency for Connecticut's low-income housing residents through this collaboration,” Grant said.

The grant will allow Wallingford-based Capital for Change, which is Connecticut's largest full-service community development financial institution, to pay for upfront feasibility assessments that often create barriers to projects, and to fund tracking efforts that help to ensure that the organization's energy loans perform as expected.

“Avangrid’s generous donation will provide access to energy efficiency feasibility studies for affordable housing providers, who otherwise couldn’t afford the process," said Cal Vinal, president and CEO of Capital for Change.

“This opens the door to creating healthy, safe and sustainable housing for low/mod income families who might otherwise not have access,” Vinal added.

The Avangrid Foundation is an independent 501(c)(3) organization that engages in mission-driven giving and is the principal philanthropic arm of Avangrid, Inc., based in Orange, Connecticut.

Since 2002, the Avangrid Foundation and its predecessors have invested more than $24 million in partnerships that focus on building sustainable, vital and healthy communities; preserving cultural and artistic heritage; advancing education; and improving people’s lives.

The Avangrid Foundation is committed to advancing the United Nations Sustainable Development Goals in the United States. For more information, please visit www.avangridfoundation.org.

Additional information is available online at CapitalForChange.org and the organization's Facebook page, “Capital for Change, Inc.” Those interested in learning more about Capital for Change's investment opportunities may contact Darcy Arcand at darcand@capitalforchange.org or (475) 253-9702.

Capital for Change's mission is to provide flexible, creative and responsive financial products and services to benefit low- and moderate-income persons, and minority and otherwise underserved individuals, businesses and communities. Its programs and products broaden access to affordable housing, energy efficiency and job opportunities.

Capital for Change Inc. was created in 2016 through the mergers of the Community Capital Fund, Connecticut Housing Investment Fund and the Greater New Haven Community Loan Fund, shaping an organization with a statewide history of service stretching back to 1968. Serving Connecticut for more than 50 years, C4C has invested more than $425 million in mission-driven capital statewide.

Submitted on behalf of Capital for Change Inc.

Contact: Kim Forde, Director of Culture & Organizational Effectiveness 

(860) 233-5165, ext. 2042  ~  kforde@capitalforchange.org


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