Riverside City Council
May 12, 2026

4/30/2026
1 RiversideCA.gov1
RiversideCA.gov
ICLEI MUNICIPAL INVESTMENT FUNDCity CouncilMay 12, 2026Office of Sustainability RiversideCA.gov2
ICLEI-Local Governments for Sustainability USA (ICLEI) has partnered with theௗCoalition for Green Capitalௗ(CGC) to offer the Municipal Investment Fund, a market-building funding and technical support to help communities to develop public-private partnership that can accelerate the deployment of clean energy projects.BACKGROUND 1 2
4/30/2026
2 RiversideCA.gov3
The Municipal Investment Fund has two Phases: Phase I and Phase II. Phase I 1. During Phase I, CGC selected 49 communities to receive technical assistance and$250,000 in Market-Building grants for activities necessary to develop public-private partnership plans that will accelerate the deployment of capital to National Clean Investment Fund (NCIF) qualified projects. 2. Phase I serves to plan for NCIF qualified projects that deliver benefits for one or more of the following categories: climate change; clean energy and energy efficiency; clean transportation; affordable and sustainable housing; training and workforce development; remediation and reduction of legacy pollution; and development of critical clean water infrastructure.Municipal Investment Priority Areas: 1. EV infrastructure2. Renewable energy and storage3. Building decarbonizationBACKGROUND RiversideCA.gov4
Phase II In Phase II, CGC will select up to 10 of the 49 communities that participated in Phase I to join its inaugural cohort of the Municipal Investment Fund, focusing on implementing their public-private partnership plans. In addition to the $250,000 in Market-Building grant from Phase I, the Municipal Investment Fund cohort participants will be eligible to receive:ௗUp to $2 million in Predevelopment Activity grants and additional Market-Building Activity grants. Only applications with a Qualified Project under consideration for funding by CGC or one of CGC’s network partners will be eligible for Predevelopment Grants.BACKGROUND3 4 4/30/2026
3 RiversideCA.gov5
The City of Riverside’s Office of Sustainability and Riverside Public Utilities, in partnership with GRID Alternatives IE and US Green Building Council - California, will develop pathways for Phase I of the Municipal Investment Fund activities.PROPOSED DEVELOPMENT RiversideCA.gov9
That the City Council:•Accept $76,042 from the ICLEI – Local Governments for Sustainability U.S.A, Inc. and Coalition for Green Capital to support Pre-Market Development public-private partnership plans for clean energy projects;•Approve the Municipal Investment Fund Planning Grant Subcontractor Partnership Agreement between City of Riverside, USBGC-CA, and GRID Alternatives IE for a six-month term and any extensions for the amount of $76,042;RECOMMENDATIONS5 9 4/30/2026
4 RiversideCA.gov10
•Authorize the City Manager, or his designee, to execute the ICLEI USA Subcontractor Agreement with ICLEI – Local Governments for Sustainability U.S.A, Inc., Coalition for Green Capital, and the City of Riverside, including making minor and non-substantive changes and contract extensions for the $76,042; and•With at least five affirmative votes, and upon receipt of the award, authorize the Chief Financial Officer, or designee, to record an increase in revenues and appropriate expenditures in the amount of $76,042, or the actual award amount, in the Grants & Restricted Programs Fund, ICLEI Municipal Investment Fund Grant revenue and expenditure accounts.RECOMMENDATIONS10