While funding priorities will change with the new administration, federal and state government investments will continue. The Hub is here to help you make projects happen in your community. We have been having several conversations with government professionals in our network and reviewing transition papers. The following is our best understanding of how projects may move forward in the next four years:
Grants
Grants under the Inflation Reduction Act generally are “one-and-done,” though not all programs have disbursed all of their funds. Grant funds under this policy may be at risk if they have not yet been obligated. Columbia University’s Sabin Center for Climate Law has an IRA Tracker which shows which funds have been spent.
The Bipartisan Infrastructure Law (BIL) has established several programs, and expanded funding for dozens of other existing programs, but since the legislation has only authorized five years of funding and we are currently entering the fourth year, these programs are in jeopardy. There is more bipartisan support for this legislation, but communication with your federal representatives regarding successful projects supported by both IRA and BIL will help to make the case for their continuation.
If you have been awarded a grant under IRA or BIL but do not yet have the funds in hand, contact your program administrator now to try to establish an agreement and draw down these funds.
Some IRA and BIL funds have been granted to intermediaries who are now administrating grant processes. EPA has disbursed funds to regional funders that are administrating the Thriving Communities grant funds for assessment, planning, and implementation ranging from $75,000 and $350,000. Applications are on a rolling basis with one deadline on December 30, 2024 and another in April 2025.
Another, recently announced, pool of funding is ClimateUnited NEXT, which provides $300,000 grants for predevelopment including feasibility and environmental impact studies, project planning, technical assistance for funding opportunities, and community engagement. The deadline for the first tranche of funding is January 10, 2025.
Financing
Tax Credits
Earmarks
State Funding
The Hub team stands ready to assist municipalities and organizations in navigating these complementary funding streams and developing comprehensive project financing strategies that maximize available resources while meeting community needs.