Cuomo Offers Bank Credits To Spur $3B Infrastructure Effort
By Pete Brush
Law360, New York (July 31, 2013, 2:09 PM EDT) -- In an effort to goose $3 billion in financing from the private sector for a "more resilient infrastructure," New York Gov. Andrew Cuomo said Wednesday that lenders will be able to get federal Community Reinvestment Act credit when they back projects designed to protect communities from the effects of global warming.
The governor said New York's Department of Financial Services has been cleared to credit banks and other lenders under the federal law designed to spur investment in low- and moderate-income communities — and communities rebuilding...