HUD Publishes New Green and Resilient Retrofit Program Funding Opportunities
The Department of Housing and Urban Development has announced it is making available funding to support green and resilient retrofits of properties participating in Multifamily Assisted Housing programs. HUD published three Notices of Funding Opportunity (NOFOs) for the Green and Resilient Retrofit Program (GRRP), along with implementation guidance in Housing Notice H 2023-05.
The Inflation Reduction Act of 2022 provided HUD with $837.5 million in grant funding and $4 billion in loan authority for this new program. The bill also included $42.5 million for a new HUD initiative that will launch later this summer to collect and assess energy and water usage data from assisted multifamily housing properties.
Building owners will be able to invest in technologies such as solar panels, heat pumps, wind-resistant roofing and other measures that will reduce greenhouse gas emissions and make properties healthier and safer for residents in the face of more severe weather and a changing climate.
The program’s NOFOs and Housing Notice detail the multiple grant and loan funding options building owners can apply for, which are designed to meet the needs of applicants with varying levels of expertise with green retrofits.
If you are an owner who receives HUD assistance through Sections 202, 811, Section 8 project-based rental assistance, or certain other small programs, you may be eligible for a grant or loan award under one of three categories:
- Elements Awards targets properties that are already advanced in a rehabilitation transaction and need gap financing to fund specific utility-efficient or resilient elements.
- Leading Edge Awards target properties that are in early stages of recapitalization planning. These awards fund projects that will achieve a high-level third-party green certification, such as Phius ZERO REVIVE.
- Comprehensive Awards will target properties with high needs where HUD-procured Multifamily Assessment Contractors will support owners by commissioning third-party reports and assessments to develop a scope of work. The resulting plan will include whole-building retrofits to incorporate green retrofit and resilient design elements.
HUD is hosting a live webinar on the full scope of the GRRP on Tuesday, May 23, 2023 at 2 p.m. EST. Members can register here.