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            NEWSLETTER VOL 17 | July 2025 Public Dreams, Private Means Much of the current conversation around change centers on the role of the federal government&mdash;and rightfully so, as we watch the One Big Beaut
        
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<table role="presentation" width="100%" cellpadding="0" cellspacing="0" border="0" bgcolor="transparent" class="text-section section-content">
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      <p style="color:inherit;font-size:1em;margin:0 0 1.25em 0;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;line-height:28px;margin-top:16px;margin-bottom:19px;" class="">Much of the current conversation around change centers on the role of the federal government—and rightfully so, as we watch the One Big Beautiful Bill Act (OBBBA) reshape how money moves in this country. But it’s worth remembering: <strong>private dollars are shaping outcomes too</strong>. Individual, institutional, and corporate capital continues to fund both harm and healing—alongside, and often in response to, the onslaught of new policy.</p><p class="" style="color:inherit;font-size:1em;line-height:1.618em;margin:0 0 1.25em 0;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">In our featured blog, we explore the shrinking public purse and <strong>the critical role values-aligned private capital can play in bridging the gap</strong>. We also confront the contradictions within the private sector itself. At PNW Climate Week, we heard a sobering account of how Microsoft’s AI tools are enabling the fossil fuel industry to accelerate extraction—a reminder that private capital doesn’t wait for government permission to make large-scale impact, for better or worse.</p><p class="" style="color:inherit;font-size:1em;line-height:1.618em;margin:0 0 1.25em 0;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">This summer, we’re also spotlighting <em><strong>The Bend</strong></em>, a new live-work development in Georgetown, Seattle. This artist-led housing initiative is being funded through a mix of public partnerships and private dollars—and is currently raising capital through a Community Arts Bond.</p><p class="" style="color:inherit;font-size:1em;line-height:1.618em;margin:0 0 1.25em 0;font-weight:normal;margin-bottom:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">As we continue tracking the effects of public policy, we’re also asking: How are we—as individuals, investors, and institutions—showing up with private dollars? What are we enabling? And what are we building?<br><br></p>
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<div class="section-caption-text" style="margin:11px 0 22px 0;position:relative;"><p class="" style="font-size:1em;line-height:1.618em;font-weight:normal;margin-top:0;margin-bottom:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;margin:11px 0 22px 0;position:relative;color:#fff;">As public funding for critical social and environmental systems recedes, the need for values-aligned private capital has never been greater. </p></div>


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      <div class="section-caption-text" style="position:relative;"><h4 style="margin:1.414em 0 .5em;font-weight:400;line-height:1.25em;font-size:1.25em;mso-line-height-alt:1.25em;margin-top:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:.02em;color:#fff;"><strong>One Big Beautiful Bill – Top 15 Tax Changes</strong></h4><p class="" style="font-size:1em;line-height:1.618em;margin:0 0 1.25em 0;font-weight:normal;margin-bottom:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;color:#fff;">CPA John McCarthy’s <a href="https://johnmccarthycpa.com/one-big-beautiful-bill-15-changes/" rel="nofollow" style="color:#bbdfda !important;">recent article</a> outlines 15 major tax changes in the latest federal legislation. Key updates include an increase in the SALT deduction cap (from $10K to $40K), new tax breaks for tips and overtime, and a temporary boost to the child tax credit. The estate tax exemption also rises, which may impact long-term planning for some families. Business owners could see changes as well, with the return of full bonus depreciation and expanded deductions. We’re reviewing the details closely and helping clients assess how these changes may affect their individual tax and estate situations.</p></div>
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      <p class="" style="color:inherit;font-size:1em;line-height:1.618em;margin:0 0 1.25em 0;font-weight:normal;margin-top:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">We recently attended <strong>The Missing Variable in AI &amp; Climate: Enabled Emissions,</strong> hosted by <a href="https://www.linkedin.com/in/willalpine/" rel="nofollow" style="color:#bbdfda !important;">Will Alpine</a>, <a href="https://www.linkedin.com/in/hollyalpine/" rel="nofollow" style="color:#bbdfda !important;">Holly Alpine</a>, for PNW Climate Week. The event delivered one of the clearest—and most urgent—messages I’ve heard at the intersection of AI and climate: <em>AI isn’t just an energy consumer; it’s an emissions enabler.</em></p><p class="" style="color:inherit;font-size:1em;line-height:1.618em;margin:0 0 1.25em 0;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">The speakers, former Microsoft leaders in Responsible AI and Sustainability, walked us through a startling analysis: AI tools deployed by fossil fuel companies are dramatically accelerating oil and gas production. One slide revealed that a single Chevron AI-enhanced project is projected to generate over <strong>100 million tonnes of CO₂</strong>—<em>300% more than Microsoft’s entire 2023 carbon footprint.</em></p><p class="" style="color:inherit;font-size:1em;line-height:1.618em;margin:0 0 1.25em 0;font-weight:normal;margin-bottom:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">The presenters argued that these “enabled emissions” are systematically left out of corporate climate accounting. Because the emissions are not directly released by tech companies—but instead enabled by their tools—they fall outside the bounds of traditional Scope 1–3 frameworks.</p>
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      <p class="" style="color:inherit;font-size:1em;line-height:1.618em;margin:0 0 1.25em 0;font-weight:normal;margin-top:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><strong>Experience Up Close Artist-Led Housing in Georgetown - Tour the future site of The Bend!</strong><em><strong><br><br></strong></em>Over the next five years, <a href="https://watershedcommunity.org" rel="nofollow" style="color:#bbdfda !important;">Watershed Community Development</a> will create a five-building live/work district in Seattle’s Georgetown neighborhood. <a href="https://watershedcommunity.org/the-bend/" rel="nofollow" style="color:#bbdfda !important;"><strong>The Bend</strong></a><strong> </strong>will be a place where housing is affordable for artists and local workers, visitors can support and share in art making, and space is reserved for industrial and commercial uses that serve the community.&nbsp;</p><p class="" style="color:inherit;font-size:1em;line-height:1.618em;margin:0 0 1.25em 0;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">The Bend will include 600 new apartments to house 1,500+ people. This live/work district will feature over 60,000 square feet of affordable community space at street level.</p><p class="" style="color:inherit;font-size:1em;line-height:1.618em;margin:0 0 1.25em 0;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><strong>When:</strong> Saturday August 9, 12:00 – 2:00 PM </p><p class="" style="color:inherit;font-size:1em;line-height:1.618em;margin:0 0 1.25em 0;font-weight:normal;margin-bottom:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><strong>Where:</strong> The Bend Showroom 5516 4th Ave S, Floor 2, Unit 250, 98108<br>(easy street parking)<br><br><a href="https://secure.lglforms.com/form_engine/s/IT1z44-x4SXCUQvxE6l5HQ" rel="nofollow" style="color:#bbdfda !important;">RSVP here</a> by August 8 </p>
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