Case Study

Resiliency Officer Helps Design An Environmental Impact Bond To Finance Community Resilience Projects

Year

2022

Details

Hazards Addressed

Flooding – Coastal

Flooding – Rainfall-induced

Assets

Critical Facilities

Cultural and Community Services

Property

Transportation and Mobility

Urban Landscape and Tree Canopy

Click the link below to read this Peer-to-Peer case study as published by the NOAA Office for Coastal Management.

Resiliency Officer Helps Design An Environmental Impact Bond To Finance Community Resilience Projects »

Equity Insights

This pioneering effort to develop Virginia's first Environmental Impact Bond epitomized a commitment to procedural, distributional, and structural equity. Crafted to fund efforts to mitigate stormwater runoff, the bond promised manifold benefits to the Hampton, VA community, with a particular dedication to bolstering resilience in low to moderate income neighborhoods.

To confront Hampton's water management challenges, project leaders utilized Dutch Dialogues. They gathered a diverse array of stakeholders to foster dialogue, pinpoint resilience-enhancing objectives, and cultivate a cohesive, integrated approach to water crisis management—a testament to procedural and distributional equity. The design process was also marked by community workshops and alliance-building with non-traditional partners such as local hospitals and transportation departments. The culmination of these community-centered efforts resulted in the procurement of substantial funding to develop a water management system primed to deliver myriad community benefits.

Lessons Learned

Don’t underestimate the significance of social capital: For a project to thrive, it's imperative that project leaders not only understand the community, but are also esteemed and trusted within it. A project lead with robust social capital fosters an environment of open dialogue and cultivates community backing. The importance of social capital cannot be overstated, particularly in close-knit communities.
Forge connections and foster collaboration: When envisioning climate resilience initiatives without all the necessary tools for implementation, engage in frequent and wide-ranging conversations across your community. This not only builds interest and support, but facilitates resource sharing and establishes connections and partnerships that may otherwise remain undiscovered, thus propelling the project forward in valuable ways.
Engage experts: Especially when introducing innovative approaches unfamiliar to the community, rely on experts to provide straightforward explanations of benefits and real-world examples. Educating the public in this manner generates interest and support, ultimately ensuring the success of the project.
Embrace inclusivity: Inclusive engagement is pivotal for effective climate resilience efforts. For water management initiatives, consider employing Dutch Dialogues to convene a diverse spectrum of stakeholders, stimulate dialogue, identify resilience-enhancing goals, and foster a unified approach to water crisis management.
Leverage community input: Remember that the target community serves as the most valuable resource for refining strategies and plans, ensuring the project's long-term relevance and efficacy. Embrace the potential of collaborative community design by implementing iterative design processes characterized by workshops and opportunities for community feedback.
Explore non-traditional partnerships: While pursuing community collaborations, consider engaging non-traditional entities such as hospitals. These connections not only enrich the incorporation of diverse perspectives and the project's capacity to address various community needs, but also increase interest and support, potentially leading to positive unintended outcomes like additional funding.
Transparency is paramount: Clearly articulate project goals and outcomes and openly report on their achievement. Emphasizing and upholding transparency throughout the project lifecycle attracts investors and demonstrates accountability to taxpayers, while strengthening trust and project support. Moreover, transparency facilitates clear information sharing, promoting project effectiveness and facilitating seamless replication or handover in the future.