Energy Retrofit Program

AAHSA recently shared information regarding the U.S. Department of Housing and Urban Development (HUD) Assisted Housing Stability and Energy and Green Retrofit Investments Stimulus Program. Funds to be allocated are $250 million. Main points of interest are:

• The program is to be administered by the Office on Affordable Housing Preservation (OHAP) and the HUD’s Green Initiatives guidelines will be the template for the program;
• Watch for a notice of release of funds around April 17; begin planning projects now since funding is expected to be awarded on a rolling basis until funds are spent (the sooner an application is in, the better the chances of being funded);
• Funds are available to Section 202 and 811 properties as grants as well as project-based Section 8; older unassisted 202 properties may be eligible;
• Applicants must have satisfactory REAC and management review ratings, deals must be feasible, funding must be spent within two years and expect a per unit funding cap of under $10,000 per unit.

Go to the Hud website for more information.