ITHACA, N.Y. — Local non-profits will now have the opportunity to participate in the fight against climate change with a new Park Foundation fund that will help organizations decarbonize their operations. The funds will allow non-profits to reduce greenhouse gasses and improve climate resilience by installing heat pumps or onsite renewable energy, among other options.
The pilot phase of The Building Decarbonization Fund consists of $500,000 in grants and $500,000 in low-interest loans, which will become available for 2025 starting Friday until January 31 for the first round of funding. A second round of funding will be open until March 27.
Grants will range between $20,000 and $100,000, and the organization expects to fund between 6 and 12 projects total. Meanwhile, the loans ranging between $20,000 and $100,000 will have a five-year payback period with an interest rate of 0.5%…