A Conversation with Finance New Orleans: Journey in Digital Transformation and Importance of Market Collaboration

We recently hosted an intimate gathering of industry experts for our Data & Dealflow 2025 event, focused on how data can unlock deal flow in renewable energy and sustainable infrastructure. A highlight of the event was a fireside chat with Damon Burns, CEO of Finance New Orleans (FNO). We discussed FNO's digital transformation journey, their approach to sustainable infrastructure, and the importance of collaboration in the current market. Here's a recap of our conversation:

Can you give a brief overview of Finance New Orleans and its mission?

Finance New Orleans is the city's Green Bank and Housing Finance Agency. For 40 years, we’ve primarily focused on expanding homeownership opportunities, particularly for low-to-moderate-income families. While we've done some multi-family and development projects, our core has been mortgage finance. We're quasi-governmental, able to issue tax-exempt bonds and other public benefits, making us a valuable partner for commercial banks. Our focus has evolved, particularly after Hurricane Katrina, to include a strong emphasis on sustainable housing and infrastructure.

Hurricane Katrina was a pivotal moment for New Orleans. How did it impact FNO and its strategic direction?

Hurricane Katrina, coupled with the Great Recession in 2008, dramatically shrunk our balance sheet. It forced us to rethink our strategy and recognize the critical need for sustainable housing and infrastructure. We realized firsthand what happens when housing isn't resilient, and the surrounding infrastructure isn't sustainable. This realization led to our "RE-launched" strategic plan in 2020, which prioritizes investments in these areas. It also highlighted the absolute necessity of digital transformation, as our legacy, paper-driven systems were simply inadequate for the challenges and opportunities ahead.

You've spoken about the importance of digital transformation. How is technology helping FNO achieve its goals?

Technology is crucial for organizational clarity and efficiency. It empowers our team by providing easy access to information and resources. When new staff or board members join, they can quickly get up to speed. It also allows us to communicate effectively with the community, which is paramount. For example, we have thousands of records of past homebuyers, but they were largely inaccessible until we began digitizing them. Now, we can readily connect with and serve our community. Furthermore, technology extends our reach. We're a small team, and Banyan Infrastructure functions as an extension of our technology department, providing expertise and solutions we couldn't afford in-house.

You're building a sustainable infrastructure program from the ground up. What's that process been like, and where does data fit in?

Building this program has been a journey. We started by developing a resilient finance strategy, a climate finance blueprint that outlines opportunities in New Orleans and how to finance them. This plan, available on our website, is a collective effort with the city and its sub-agencies. Data is essential throughout this process. It informs our understanding of community needs, helps us manage programs effectively, and enables us to communicate transparently with stakeholders. For instance, we're developing a pipeline of community solar and microgrid projects, and data is critical for assessing viability and impact.

What are some of the key lessons you've learned during this process?

One crucial lesson is the importance of early and consistent community engagement. We learned from past projects, like the Make It Right initiative, that community buy-in is essential for success. We now prioritize giving the community a voice in our projects, even the potentially controversial ones. We may not always be able to do exactly what everyone wants, but their perspectives must be heard and considered.

Looking back over the past few years, what advice would you give to other organizations embarking on similar initiatives?

Focus on building organizational clarity, ensuring everyone understands their role and has the resources they need to be successful. Invest in technology to streamline processes and improve communication. And most importantly, engage the community early and often. Their insights are invaluable.

__

This conversation highlighted the critical role of data, technology, and community engagement in driving sustainable development. Finance New Orleans' journey offers valuable lessons for other organizations navigating the complex landscape of renewable energy and infrastructure finance. 

Reach out to us if you would like to learn more about Banyan Infrastructure and how we can help you through your organizational transformation.

‍