NYGB made a bridge loan commitment of US$11.0 million to conduct energy improvements, primarily through the replacement of conventional lighting equipment with cleaner, more efficient LED lighting in 18 master-metered multifamily developments in New York City. The Project includes 30 different LED technologies, and is expected to generate savings of 10% – 15% of current annual energy expenses for the building owner. NYGB financing will create a borrowing history for a relatively new structure that can be replicated with NYCHA and other New York State public housing authorities that seek to utilize private capital financing for similar types of building upgrades.