Take A Look At Innovative Ways Tampa Is Going Green To Manage Stormwater Pollution

TAMPA, FL — The city of Tampa is taking the next step toward become more environmentally sustainable and resilient by issuing a new $36.6 million "green bond" for wastewater projects that include innovative ways to reduce pollution from stormwater runoff.

A green bond is a fixed-income instrument designed specifically to support large-scale flood control, climate-related and environmental projects. In 2018, Tampa also issued a self-certified green bond for stormwater.

This is a third-party certified bond specifically for stormwater capital improvements in the central and lower basins in Tampa. Vigeo Eiris is the third-party green bond verifier for the city of Tampa and an affiliate of Moody's rating agency.

By using the independent review services of Vigeo Eiris, bond purchasers have an added layer of certainty that they are investing in meaningful environmental, social and governance financial instruments.

The city of Tampa will use proceeds from the green bond to minimize flooding, add green infrastructure and holistically manage its stormwater systems, including:

Rain gardens — A rain garden is a garden of native shrubs, perennials and flowers planted in a small depression, which is generally formed on a natural slope. It is designed to temporarily hold and soak in rainwater runoff that flows from roofs, driveways, patios or lawns, removing nutrients and chemicals that contribute to water pollution.

Pervious pavement — This allows rain to seep through the surface of the pavement, down to underlying layers of soil and gravel. In addition to reducing the runoff from the rain that falls on them, permeable pavements can help filter out pollutants that contribute to water pollution.

Bioswales — These are vegetated, shallow, landscaped depressions designed to capture, treat and infiltrate stormwater runoff as it moves downstream.

All of these options for green infrastructure help store and treat water before it is discharged into Tampa Bay.

In addition, the city of Tampa is continuing to design and construct pump stations to protect against flooding.

The green bond aligns with Mayor Jane Castor's Transforming Tampa's Tomorrow vision and her Resilient Tampa Roadmap, which includes an initiative to design stormwater systems with climate change impacts in mind.

Castor said this green bond will help drive Tampa toward the future and ensure the city is doing its part to understand and manage sea level rise, intense rain events and cycles of drought.

"Tampa can and must plan for the new normal," Castor said. "By aligning city resources and working with state and federal partners on infrastructure funding, Tampa can serve as a model for coastal cities."

For more information about the city of Tampa's green infrastructure plans and the Resilient Tampa Roadmap, click here.