2023 AHEAD Grant to Provide Clean Energy to Underserved Nevadans
FHLBank San Francisco awarded $4 million to 75 economic development initiatives throughout Arizona, California, and Nevada
RENO, Nev. – The Nevada Clean Energy Fund (NCEF) is one of 75 recipients of the 2023 AHEAD grants from the Federal Home Loan Bank of San Francisco (FHLBank San Francisco). The Access to Housing and Economic Assistance for Development (AHEAD) grants, delivered through FHLBank San Francisco member financial institutions, aim to advance innovative economic and community development initiatives that bring greater opportunity to underserved populations. NCEF’s $50,000 AHEAD grant is delivered through FHLB member Toyota Financial Savings Bank and will enable NCEF to expand its efforts to bring clean energy to Nevada’s affordable housing communities.
“Toyota Financial Savings Bank is proud to support the Nevada Clean Energy Fund’s important work with Nevada’s affordable housing community through the 2023 AHEAD grant program,” said Mara McNeill, President & CEO at Toyota Financial Savings Bank.Â
“Receiving this grant is a testament to the important role clean energy plays in driving down housing and energy costs and boosting resilience for Nevada’s underserved communities,” said NCEF’s CEO, Kirsten Stasio. “Affordable housing developers are often forced to pass up profitable investments in energy measures because of challenges accessing capital.” NCEF is working to bring significant clean energy federal funds to bear in Nevada to increase access to capital and support affordable housing development.Â
NCEF is a 501(c)(3) nonprofit organization that supports a thriving, affordable, and accessible clean energy economy by providing financial and technical resources to Nevadans. NCEF was established by state legislation in 2017 to serve as Nevada’s nonprofit green bank, an institutional model successfully implemented in over a dozen US states over the past decade. NCEF implements clean energy technical and financial assistance programs for Nevada’s affordable housing sector, Tribes, nonprofits, schools, state and local governments, rural communities, and local lenders. Clean energy measures include weatherization, energy efficiency, rooftop solar, electric vehicles (EVs) and EV chargers, and others.
NCEF was created out of a recognition that Nevadans lack access to the financial and technical resources necessary to take advantage of clean energy opportunities, reduce energy costs, and live in a healthy environment and climate. Low-income Nevadans spend over a fifth of their income on energy, forcing many households to sacrifice spending on food and medicine to keep their homes cool.
About the Nevada Clean Energy Fund
The Nevada Clean Energy Fund (NCEF) is a nonprofit organization that supports a thriving, affordable, and accessible clean energy economy by providing financial and technical resources to Nevadans. NCEF was established by state legislation in 2017 as the state’s green bank. More information about NCEF is available at https://nevadacef.org/.Â
About Toyota Financial Savings Bank
Toyota Financial Savings Bank (Toyota Bank) provides private banking products and services to eligible Toyota and Lexus Dealer employees, their eligible family members, and Toyota and Lexus Team Members in the United States. Toyota Bank offers a curated suite of high-yield savings and lending products, coupled with a dedication to providing high-touch service from a dedicated Personal Banker. More information about Toyota Financial Savings Bank is available at https://www.toyotabank.com/.
About the Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions – commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions – propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient. More information about Toyota Financial Savings Bank is available at https://www.fhlbsf.com/.