BALTIMORE (AP) - Baltimore will announce Monday that the $10 million in green infrastructure projects meant to reduce water pollution will be funded through a combination of fees, bonds and state funds.
The Baltimore Sun reports the Department of Public Works plans to take out $6 million in environmental impact bonds. These differ from municipal bonds as investors must pay back the city if the projects don’t meet certain standards. State funds and city water bill fees will provide the remaining project funding.
These bonds were used for the first time for green infrastructure projects last year by Washington. In that agreement, investors will pay the city if stormwater runoff reduction is less than expected.
Baltimore’s projects will use greenery to absorb rainwater, preventing polluted runoff from flowing in to streams.
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Information from: The Baltimore Sun, http://www.baltimoresun.com
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