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Why QECBs?

Why QECBs?
Qualified Energy Conservation Bonds (QECBs) are an extremely attractive financing option. Applicants can establish financing for their project, either directly or with the support of the Washington State Housing Finance Commission (WSHFC). Once a bond rate is established, QECBs are used to buy-down the interest rate even further, offering better financing than a traditional bond.

Businesses, community groups, nonprofits and government organizations can now access low-interest financing for projects that conserve energy, water, and promote environmental sustainability, with King County’s Green Communities Initiative – the first program of its kind in the state. Applications now being accepted.

The Green Community Initiative offers access to QECB financing for projects of over $1 million that provide energy and other environmental benefits in King County. Financing takes place through the Washington State Housing Finance Commission (WSHFC).

Interested parties can submit applications to King County. King County sends qualified applications to the WSHFC, who works with GCI applicants that meet the eligibility criteria to facilitate financing for their projects. For projects under $1 million, King County will work with interested parties to connect them directly with WSHFC and its non-QECB financing programs.

Quick overview

Application is submitted to King County and meets one or more criteria King County refersapproved applicantto WSHFC for funding WSHFC works withapplicant to securefinancing King County willrefer applicant to WSHFC and its non-QECBfinancing programs • Business • Non-profit • Government CostOver $1MUnder $1M

Application and Criteria Guidelines

  • Applicant fills out a Green Community Initiative application - 684KB PDF.
  • King County staff will review the proposed project against the criteria for the Green Community Initiative
  • Five categories of environmental benefit have been identified. Applicant projects will be assessed based on their ability to meet one or more of the categories of energy and environmental benefit:
  • If approved, King County will recommend projects to WSHFC for QECB funding.
    King County application review through the GCI is in no manner connected to code or permitting approval for any project. Code or permitting approval must be pursued through the appropriate, separate, agencies and processes.
  • The WSHFC will work with the recommended project applicants to determine credit worthiness and identify financing that will offer the most advantageous financing structure for projects over $1 million.
  • For projects under $1 million, WSHFC has a number of economically attractive financing programs that support environmental sustainable projects at washfc.org