CIS Increases Its Efforts in Stormwater Management
CIS, recognized as a leader in developing resilient infrastructure, has successfully secured a second tranche of private financing. This funding comes from the Urban Investment Group at Goldman Sachs Alternatives, and it is aimed at expanding stormwater infrastructure efforts in the Greater Milwaukee region. The initiative is part of their ongoing partnership with the Milwaukee Metropolitan Sewerage District.
Boosting Green Initiatives in Milwaukee
This latest funding will bolster CIS’s capacity to tackle stormwater runoff. The organization has been an active participant in the Fresh Coast Protection Partnership, a community-based initiative that focuses on enhancing local water management strategies. These strategies, implemented by the Milwaukee Metropolitan Sewerage District, include innovative techniques for capturing and slowing down stormwater before it reaches critical discharge points. Over the decades, modern developments are targeted towards achieving a significant storage capacity for stormwater management.
Milestones in Stormwater Storage
Since the 1990s, the Milwaukee Metropolitan Sewerage District has achieved remarkable progress, with a vision for a storage capacity of 740 million gallons by 2035. So far, efforts have led to an impressive attainment of over 100 million gallons, with CIS contributing significantly to this achievement. These efforts demonstrate CIS's dedication to addressing stormwater challenges head-on through sustainable and environmentally friendly practices.
Investment Focus on Community Resilience
Financial resources from this investment will specifically target the construction of green infrastructure capable of managing about 11.5 million gallons of stormwater. The objective is clear: reduce localized flooding and prevent sewer overflows, thus benefitting local communities significantly. By addressing the health and environmental challenges induced by climate change, the initiative aligns with the goals set within the EPA Clean Water Act, turning stormwater from a potential hazard into a valuable resource for community use.
Supporting Local Economies
The Community-Based Partnership seeks to engage in projects that prioritize low-to-moderate-income neighborhoods. In doing so, it also aims to empower disadvantaged local businesses, ensuring they play a role in implementing these green improvements. This proactive strategy will not only safeguard taxpayer investments but will also create an environment where local businesses can thrive and contribute to a sustainable community.
CIS: A Leader in Public Infrastructure Solutions
CIS has established a reputation for adeptly navigating public procurement processes and efficiently managing a wide range of project controls. With expertise in engaging with subcontractors, they strive to create equitable opportunities that benefit both public and private stakeholders. By fostering a collaborative ecosystem, CIS effectively lowers barriers for local workforce participation, ensuring diverse engagement in urban infrastructure projects.
CEO Insights on Project Success
Sanjiv Sinha, Ph.D., the CEO and Board Member of CIS, expressed enthusiasm regarding the projects underway: "Since 2020, we have delivered or are working on eighteen distinct green infrastructure projects. Notably, 93% are on private land and nearly half are in low-to-moderate income areas, showing our commitment to inclusivity and support for community development." This success highlights the effective sourcing of funding from both private entities and affordable public capital, ensuring comprehensive governance over environmental assets.
The Role of the Urban Investment Group at Goldman Sachs
The Urban Investment Group at Goldman Sachs Alternatives has positioned itself at the forefront of impact investing. By providing innovative financing solutions, UIG plays an essential role in addressing pressing social issues while supporting economic growth in underserved communities. Since its inception, UIG has allocated more than $21 billion to transformative projects across various sectors, demonstrating a robust commitment to sustainable development.
Partnerships That Matter
Sherry Wang, co-head of UIG, spoke positively about the collaboration with CIS, stating, "We are excited to join forces to enhance infrastructure in areas that need it most. This investment not only aims to safeguard communities from potential environmental threats but also fosters local job growth by utilizing the regional workforce." The emphasis on local job creation underscores the multifaceted benefits of these development projects.
Addressing the Stormwater Crisis
Statistics reveal that the U.S. faces extensive challenges with stormwater management, as approximately 10 trillion gallons of untreated runoff enters waterways every year. This runoff indiscriminately carries pollutants, posing serious risks to public safety and environmental health. CIS is committed to addressing this crisis through its green infrastructure solutions that emulate natural water processes, helping to capture, filter, and reduce flooding. These methods aim to ensure that harmful pollutants do not contaminate valuable water supplies.
Future Outlook for Urban Infrastructure
The funding from UIG not only speaks volumes about the confidence in CIS's mission but also reflects the urgency of revitalizing urban infrastructure. At least half of all projects funded through this latest tranche will focus on low-to-moderate-income neighborhoods. This dedicated aim to include small, minority-, and women-owned businesses in these projects showcases a steadfast commitment to equity and community enhancement.
Frequently Asked Questions
What is CIS and what do they focus on?
CIS is a national leader in public infrastructure development, specializing in environmentally sustainable solutions that foster economic inclusion and community engagement.
How does the Urban Investment Group support CIS?
The Urban Investment Group at Goldman Sachs provides essential funding to support CIS's initiatives in enhancing stormwater management and infrastructure upgrades.
What are the main goals of the Fresh Coast Protection Partnership?
The main goals include managing stormwater runoff effectively, reducing flooding, and ensuring environmental equity particularly in underserved communities.
How does CIS contribute to local communities?
CIS empowers local economies by engaging small and minority-owned businesses in its projects, promoting job creation and economic resilience in low-to-moderate-income neighborhoods.
What environmental challenges does CIS aim to address?
CIS focuses on mitigating issues related to stormwater runoff and its associated pollutants while supporting compliance with environmental regulations for clean water.
