GREEN SHORTS
The US District Court for the Southern District of New York dismissed a false advertising suit filed by a group of plaintiffs led by engineer Harry Gifford. It alleged that the US Green Building Council advertised with false statements regarding the energy and money-saving aspects of LEED certification, calling a 2008 study indicating 25% to 30% better performance as “seriously flawed†and leading to a loss of business and cost of remedial corrective consumer education.
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GE led a $22M investment round (with investors Claremont Creek Ventures, Greener Capital Partners, and RockPort Capital Partners) in San Francisco-based Project Frog and began construction on one of its prefabricated sustainable buildings at GE's Learning Center in Ossining. The building will help Project Frog (which combines semi-custom designs with a pre-engineered kit of energy efficient building components, delivered site-ready and take one to six months to construct) expand its sales pipeline and execute orders.
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The Community Preservation Corp closed on a $10.2M construction loan under its Green Financing Initiative to rehab and update the 88-unit Cow Bay apartment complex at 2 Bay Green Ln, Port Washington, Long Island, increasing its fuel and electrical efficiency. Upgrades include boiler replacements, new roofs, reinforcement of a retaining wall, insulation improvements, and installation of a new laundry room. The borrower also received a $270k grant from Nassau County. The contractor is Apollon Group.
