Buffalo, New York, to Launch Largest Environmental Impact Bond in the Nation

Mayor Byron Brown recently announced during his 14th State of the City address that Buffalo, New York, will launch the largest Environmental Impact Bond (EIB) in the country at $30 million. The funds from this investment will allow the City of Buffalo and Buffalo Sewer Authority to capitalize on the Rain Check Buffalo program. EIBs offer a novel approach to pay for high-impact projects based in part on the environmental, social and/or economic outcomes they generate. In this way, EIBs can help hedge the performance uncertainty that some developers new to green infrastructure may have, while capitalizing on the multiple benefits