The track record of state and local Green Banks in the U.S. shows how these financial institutions can move projects forward in cities. For example, consider a success story from the New York City Energy Efficiency Corporation (NYCEEC). A property management company that wanted to make improvements to six of its multifamily properties. Incentives from the local utility would cover part of the cost, but significant gaps remained, and the developer needed an affordable loan. NYCEEC provided a $1.3 million loan, which is due to be repaid within six years. The improvements will reduce greenhouse gases in an amount equivalent to removing 3,200 vehicles from the road, and will also reduce the emission of fine particulates which damage city residents’ health.