The Clean Air Improvement Program (CAIP) is OAQDA’s resource for businesses looking to improve air quality. We help businesses of all sizes every day by providing financial tools through our bond financing, allowing them to make investments in cleaner, more efficient technologies such as pollution control, energy efficiency, and renewable energy.
Through these projects, we support cleaner air for employees, customers, and communities, along with bottom-line savings that help Ohio businesses sustain their operations and meet their sustainability goals.
Through the financial benefits of OAQDA-issued bonds, projects see enhanced viability and increased cash flow. Additionally, projects applying to CAIP may also be eligible for Green Bond, which may bring additional investment to your project from the investment community.
CAIP participants may work with lenders of their choice or may access the open market for the purchase of the bonds for eligible projects. Financial terms and credit worthiness are determined by the lender or underwriter.
Through the financial benefits of OAQDA-issued bonds, projects see enhanced viability and increased cash flow. OAQDA bond financing provides a 100 percent exemption from the following taxes:
- Sales and use tax
- Real property tax
- Interest income on bonds and notes issued by OAQDA
Eligibility and Process
All project requests are reviewed thoroughly by OAQDA to verify the expected performance of the project to improve air quality. This process involves financial, technical, and project impact review. For more information, read the CAIP program guidelines or contact OAQDA to get started.
New construction or retrofit energy conservation measures (ECMs)
More energy efficient technologies, equipment, and practices that achieve a 15% energy savings above current state energy standards.
Efficiently designed whole-buildings
Significant renovation or new construction of an entire building that delivers air quality benefits and minimum 50% energy savings through the design, construction, commissioning and operation that encompasses interconnected energy-efficient equipment and measures, onsite clean energy generation and air quality improvements.
Renewable Energy Generation
Energy generation from natural, replenishable resources.
Clean transportation infrastructure
Property or equipment related to the recharging or refueling of vehicles that enables a reduction of air pollution by alternative fuel or renewable energy sources.
Greenhouse gas and air pollutant reduction
Control, capture, reuse, mitigation or prevention of air contaminants regulated by US EPA, harmful to human health or can provide environmental benefits to communities.
Solid waste recycling or disposal
A final disposal, energy conversion process, or recycling process of used or residual material.
Other potential project types may be considered and evaluated in the ability to improve air quality. Please contact OAQDA to get started.
To apply for financing of eligible projects through OAQDA, potential applicants are encourage to reach out to OAQDA with their interest or can submit an application for evaluation. If and when the application is complete and validated based on technical, financial, legal and community criteria, then the project application may be considered by the OAQDA Board Members. After a presentation to the OAQDA board, a decision is made as to whether a project can utilize bond financing through OAQDA and receive the related tax exemption benefits associated with such financings. Upon closing, the OAQDA air quality certificate is issued and remain in effect until the OAQDA bonds are no longer outstanding. Annual reporting and monitoring by OAQDA will be conducted to ensure the financed project is maintaining its air quality improvement benefits to the State of Ohio.
The first step in the process is generally to reach out to OAQDA to discuss your project. Our staff is available to discuss eligibility, steps in the process, and how CAIP can benefit your project. Click here to apply.
You can get started with an application, or preferably, contact OAQDA for a preliminary meeting to explore your project.