Rockefeller Foundation announces $3 million in seed funding for infrastructure
January 22, 2013
The Rockefeller Foundation recently announced it will provide up to $3 million in seed funding to the RE.invest Initiative. The public-private program aims to help cities build the storm and waste water infrastructure they need to survive severe storms like Hurricane Sandy, which caused an estimated $66 billion worth of damage from the Caribbean to New England, according to estimates discussed in a recent press release.
"Using innovative sustainable infrastructure such as replacing concrete with porous pavement, restoring creeks and wetlands, and increasing tree cover can help cities manage storm water often at a fraction of the cost of upgrading traditional concrete infrastructure," said Nancy Sutley, chair of the Council on Environmental Quality.
RE.invest plans to provide as many as eight cities with the chance to update their local infrastructure with smarter solutions, thanks to the funding from the Rockefeller Foundation and additional support from c.dots developments, CH2M Hill and private investments. Ultimately, these efforts are expected to save taxpayers' dollars and help local communities build cleaner cities.
Organizations that are providing funds for multiple nonprofit programs might find it easier to manage their large-scale efforts with fundraising management programs that can account for funds as they are disbursed to recipients.