Businesses along International Avenue could soon go green to generate a little green for the community.
The area business-revitalization zone is hoping a feasibility study will help determine what kind of revenue generation could come from creating a carbon-credit zone.
By assisting local businesses in reducing their greenhouse-gas emissions, executive director of the International Avenue BRZ Alison Karim-McSwiney said the BRZ hopes to capitalize on potential carbon credits.
“It’s a little out there in terms of its thinking,” said Karim-McSwiney.
“I think that we could then amalgamate and aggregate those credits into something that could then be a source of funding for some of our communities.”
She said initially, a handful of businesses ranging from restaurants to office buildings to manufactures would be selected to pilot the initiative. From there, experts would help determine the potential return on investment for business owners.
Area Ald. Andre Chabot said International Avenue, which runs along 17 Avenue Southeast between 26th and 61st Street, has hundreds of merchants.
“When you’re talking about that large or a strip of land with that many business owners, you don’t have to have any one large user — just the culmination of all of them …. could generate some pretty reasonable revenues.”
Karim-McSwiney said the ultimate goal would be to create a fund from the carbon credits from which community members could apply for grants.
“I think that this will be a very exciting area because it will be an environmentally sustainable area.”