University of Maine Green Loan Fund
Status: Last revised on 2/12/07
The Green Loan Fund was created through collaboration between the University of Maine Foundation and the University of Maine. Under the terms of the agreement, the Foundation will loan up to $300,000 to the University for projects designed to reduce energy consumption and improve campus sustainability. Any member of the University Community may submit an application. Student groups are encouraged to advance project ideas.
Green Loan Advisory Committee
Campus organizations devoted to energy conservation and reduction in greenhouse gas emissions fall under the umbrella of the UMaine Sustainability Alliance (“UMSA”). The Green Loan Fund Advisory Committee reports to the UMaine Sustainability Alliance, which in turn reports to the VPAF for purposes of administering the Green Loan Fund.
A project proponent designated the Project Executive, will initially discuss the project concept with the UMSA. When the UMSA is satisfied that a project is meritorious and supported by sufficient data, the Project Executive will be notified that he or she may submit an application to the UMSA Coordinator, who will screen it to determine only that all necessary information has been submitted, and then forward it to the Advisory Committee.
The GLF Advisory Committee, the members of which are appointed by mutual agreement of the Foundation and the University, receives all applications for loans; formally reviews applications; and makes recommendations for funding approval to the University of Maine’s Vice President for Administration and Finance. The Advisory Committee also advises the Green Loan Fund signatories on policies and procedures governing operation of the Fund.
General Considerations in Evaluation
Applications will be evaluated on their ability to contribute to one or more of the following areas of consideration:
- Greenhouse Gas Reductions
- Energy Conservation
- Water Conservation
- Sewage and storm water output reductions
- Pollution reduction (hazardous, solid waste, liquid waste, gaseous emissions)
- Operational improvements that reduce environmental impacts
- Environmental procurement practices
- Environmental leadership within the University
- Increase in Campus members’ awareness of environmental impacts and increased numbers of participants in conservation activities
- Education of and reputation building with surrounding community
- Improvement in measurement of energy consumption on Campus
- Increase in use of renewable resources
Loan Fund Criteria
Projects that will be considered for GLF review must meet the following core criteria:
- Projects must generate infrastructure or behavioral improvements that directly decrease the University of Maine’s current energy usage and/or environmental impacts. [These projects must demonstrate an innovative design and implementation approach.] Projects that are part of scheduled or routine maintenance are not eligible for consideration unless they demonstrate environmentally beneficial design innovation
- Projects must have a payback period of five years of less. Payback can be longer if bundled into one loan application- we need to change the wording here.
Multiple projects may be “bundled” into one loan application, but only if the average payback is five years or less
Any member of the UMaine campus community (students, faculty, and staff) is eligible to submit an application
How to apply for a Green Loan
The proposal process is shown on the attached flow chart:
- 1. Project identification and initial contact with UMaine Sustainability Alliance (“UMSA”)
- 2. UMSA pre-application discussion and review
- 3. Project proposal submitted to the UMSA Coordinator
- 4. Project proposal reviewed by the Green Loan Fund Advisory Committee
- 5. Project proposal is or is not recommended for approval to the VPAF
- If not approved, project may be discussed further with UMSA and revised. If approved by the VPAF, GLF funding is released and repayments start on previously agreed upon schedule