IBank Loan Profile: City of San Diego

City of San Diego

LOCATION: San Diego, CA

AMOUNT ISSUED: $40 million

DATE ISSUED: February 15, 2024

ABOUT: The city of San Diego will use the funds for an organic waste processing facility that will assist the city in complying with state requirements to divert organic material from landfills. The Miramar Greenery organic waste processing facility will construct a new 25,000 square foot intake facility with a reinforced concrete floor, roof, and walls with hangar-style doors. The project also includes processing equipment, a conveyor system, and stormwater and wastewater controls.

The new organic waste processing facility will assist the city of San Diego in complying with Senate Bill 1383 (2016), which mandates that organic waste be collected and diverted from landfills to mitigate pollution and reduce greenhouse gases. The new facility will increase the city’s capacity to process organic waste from approximately 40,000 tons per year to more than 251,000 tons per year.

The project will also help the city of San Diego move one step closer to its Zero Waste Plan – which lays out strategies to divert 90 percent of all trash from landfills by 2035 with a goal of zero waste by 2040.

The project will create 156 construction jobs and 45 new permanent jobs.