Local News

UC to sell "Green Bonds" to finance green building

91.7 WVXU | By Ann Thompson

Published December 1, 2014 at 6:00 AM EST

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UC's already-renovated Morgens Hall (Glass House) at the left. At the right is Scioto Hall, which will now be renovated as a twin to Morgens.

Lisa Ventre, University of Cincinnati

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A rendering of what the renovated Scioto, at right, will look like when it opens in August 2016.

Rendering by Richard Fleischman + Partners Architects, Inc.

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Rendering of an interior lounge in Scioto, as it will look when the project is complete

Rendering by Richard Fleischman + Partners Architects, Inc.

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Rendering of the exterior of the Scioto lounge, as it will look when the project is complete.

Rendering by Richard Fleischman + Partners Architects, Inc.

The University of Cincinnati says it's the first public university in the United States to bring a Green Bond to market. The first-ever higher education green bond was offered by MIT in September.

The estimated $29 million in Green Bonds will fund a portion of the renovation of Scioto Hall, to be redesigned as a green building. Its "twin" structure, Morgens Hall, has already been renovated with sustainable features and design.

Scioto is expected to open as a LEED building in August 2016. Features of the dorm:

2,000 glass panels. The glass has low-emissive properties and will have a white linear pattern adding another degree of insulation
Energy Efficient mechanical system
LED lighting
Energy-recovery system
Wood from sustainably managed forests
Use of materials from the local region

UC's General Receipts Bonds, Series 2014C will market on or about December 2.
Green Bonds were first issued by the World Bank in 2008 to pay for environmentally friendly projects and help stimulate and coordinate public and private sector activity to combat climate change.