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Posts tagged ‘Sustainable City’

Salt Lake City Celebrates Largest Clean Tech Financing Deal in Program History

Salt Lake City is growing rapidly. Keeping up with the city’s growth in a sustainable way might feel daunting. Investing in renewable energy and energy efficiency is one of the best ways to reduce pollution and curb carbon emissions as our community grows.

But those improvements can sometimes be expensive. That’s why Salt Lake City and the State of Utah recently partnered on offering a new type of financing program called C-PACE, which stands for Commercial Property Accessed Clean Energy.

In a nutshell, C-PACE helps commercial property owners obtain low-cost financing for sustainability projects including energy efficiency, water conservation, and renewable energy. The financing structure helps existing and new developments keep up with energy efficiency goals and standards, and is becoming more and more competitive as a financing tool.

Salt Lake City joined the C-PACE financing program in 2018 as a way to help incentivize sustainable development.

And a little over one year later, we are thrilled that the largest C-PACE project in the United States – EVER – just broke ground in Salt Lake City! The Hyatt Regency will be located on the corner of 200 South and West Temple.

Sustainable Development

C-PACE will help ensure that Salt Lake City can meets its sustainability goals. Specifically, Salt Lake City aims to cut carbon emissions by 80% by 2040 and shift to net-100% renewable electricity resources by 2030.

C-PACE is unique because of its low interest rates and because it allows for the collection of payment through property tax assessments that stay with the property. That means that the cost and benefits from– for example– solar panels or building efficiency upgrades stay with the property, rather than being a financial burden borne solely by the developer or the original property owner.

The 26-story Hyatt Regency Hotel across the street from the Salt Palace will have 60,000 square feet of convention space and 700 rooms. The C-PACE financing allowed developers to proceed with aggressive sustainability measures including heating and cooling systems. According to CleanFund, the hotel is projected to “exceed the energy code compliance level by over 20 percent.”

The release further stated: “The $54.7 million in Commercial Property Assessed Clean Energy contribution provided by CleanFund will fund nearly every sustainable upgrade in the new hotel, demonstrating the effectiveness of the state’s new C-PACE legislation towards achieving Salt Lake City’s environmental goals. It also sets a record for the single largest amount ever financed by C-PACE nationally.”

With Salt Lake City’s booming convention industry, the Hyatt Regeny Hotel is an investment in Salt Lake City’s economy as well as sustainability. Improved energy efficiency and increased use of renewable energy will reduce air pollution and achieve a lower carbon footprint for developments.

C-PACE financing helps standardize those practices.

The Hyatt Regency Hotel will open in 2022. Photo courtesy of Salt Lake City’s Economic Development Department.
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Building Resilient Cities

Air quality and curbing carbon emissions are two large concerns for Salt Lake City. C-PACE financing for buildings like the Hyatt Regency Hotel helps ensure Salt Lake City’s economic viability as well as its environmental resiliency.

With the C-PACE program in place, Salt Lake City will be able to continue to help lead the country in building cleaner, more sustainable buildings. We look forward to more investments in 2020!

Explore the Jordan River Parkway

by SLCgreen intern Atticus Olmedo

From Bear Lake and Antelope Island to Timpanogos and Goblin Valley, Utah is a hotbed for hiking trails and natural excursions. But for many, the Jordan River Parkway doesn’t immediately come to mind as a prime recreational destination. This may be a result of the Parkway’s location, locked between the suburban enclaves and urban centers. But don’t be fooled. People, organizations, and governments have rallied behind the Jordan River Parkway’s potential with a vision for sustainability.

And this month is all about celebrating the Jordan River with a month full of activities. Let’s dig in!

The Jordan River System

Thousands of years ago when Lake Bonneville was receding, the river wound its way through ancient sediments left by the prehistoric lake. Eventually, the river helped establish pond and wetlands. Today, the Jordan River flows approximately 50 miles from Utah Lake north towards the Great Salt Lake’s wetlands. The river is primarily fed from the creeks that travel through the Salt Lake Valley.

The ecology of the river has evolved considerably. Because the river collects water from streams throughout the valley, it also collects pollution and detritus. However, thanks to restoration efforts, the parkway and river have become more hospitable for natural and recreational use.

The river is lined with deciduous oaks, aspens, willows, and cottonwood trees. Invertebrates provide an important source of food for other river species, particularly native carp and trout. Prior to urbanization, coyotes, big-horned sheep, wolves, and mule deer made the river their home. Now, raccoons, red foxes, jackrabbits, and common muskrat can be spotted in the habitat. Birds including magpies, sparrow hawks, and even pheasants are also common.

A bike trail along the parkway

Nature in our Backyards

For the fitness and nature enthusiasts alike, The Jordan River Parkway Trail offers a low-cost fitness and natural excursion option to locals who may not have the means to access far away wildlife areas.

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Sustainable City Dashboard

DashboardScreenshot

Screenshot of the homepage of the Sustainable City Dashboard.

Today SLCgreen joined Salt Lake City Mayor Ralph Becker to unveil a new and innovative tool to track our sustainability efforts and engage with the public.

The Sustainable City Dashboard website features over 100 different metrics from 12 core areas of livability: Air & Climate, Energy, Recycling, Transportation, Open Space, Water, Urban Forestry, Arts & Culture, Housing, Community Health & Safety, Food & Nutrition and Education.

“The Sustainable City Dashboard is an effort to openly engage with residents as we work toward our goals for the future,” said Mayor Becker. “The tool illuminates a broad and ambitious agenda to protect our resources, enhance our assets and establish a path toward greater resiliency and vitality for every aspect of our community.”

The dashboard also features a venue for residents to voice their ideas and concerns about all aspects of Salt Lake City life. The new format, facilitated through Open City Hall, provides the opportunity for two-way communication and enhanced idea sharing.

We hope that Salt Lake City residents will see the new dashboard as an opportunity to explore what their city is doing to improve our community, and become part of the process by sharing their own ideas on how we can reach our goals.

Start exploring the new Sustainable City Dashboard.  We can’t wait to hear your ideas!