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Green Initiative

Green Initiative. HUD’s Office of Affordable Housing Preservation (OAHP) IPED – Enterprise Chicago August, 2008. HUD’s Green Initiative. Introduced at IPED-Enterprise in San Francisco, July, 2007

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Green Initiative

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  1. Green Initiative HUD’s Office of Affordable Housing Preservation (OAHP) IPED – Enterprise Chicago August, 2008

  2. HUD’s Green Initiative Introduced at IPED-Enterprise in San Francisco, July, 2007 A pilot initiative to encourage owners of affordable, multifamily properties to rehabilitate and operate their properties using sustainable Green Building principles.

  3. Some HUD Background • Energy Efficiency Efforts • Office of Healthy Homes • The Mark-to-Market (M2M) Program • Created by Congress in 1997 • Preservation of Existing Housing Stock • Rehabilitates Section 8 Properties • Restructures Underlying Mortgage Debt • 1,700 Properties with over 150,000 Units Completed to Date

  4. Why pilot Greenin M2M? • Challenges of bringing green to most of the HUD-assisted portfolio. • Opportunity to fund these efforts in a representative sample of the HUD portfolio. • Ability to collect real data from within the HUD portfolio for broader application. • M2M property owner incentives to go green. • The Pilot Program works within existing M2M statutes and regulations, and within current budget authorities.

  5. Project Eligibility for the Initiative: • All M2M properties are eligible • 55 properties/over 5,700 apartment units currently in the pilot • Requirements for a Green M2M Restructure: • Physical Condition Assessment • Green Rehab (Baseline, Fixed, and Variable) • Green R4R plan – 20 Year Physical Needs • Green Operations & Maintenance (O&M) Plan • Staff and Contractor Certification Requirements

  6. Owner Incentives • Reduced Owner Contribution to Rehab • From 20%, to as little as 3% of Rehab Costs • Applied to All Systems, Appliances, and Components that meet the Green Standard • Increased Incentive Performance Fee (IPF) • Up to 50% Increase • Admin Fee Allowed from Additional Funds • Incentive to Owners to Seek Grants • Potential Cash Flow Increase from Savings • Improved Property

  7. M2M Green Initiative – Status at June 23, 2008 1 property 26 units   2 properties 198 units 1 property 25 units 4 properties 1397 units 2 properties 203 units        1 property 50 units     1 property 52 units 6 properties 516 units  1 property 73 units      3 properties 289 units          2 properties 78 units  1 property 218 units      4 properties 416 units  4 properties 322 units 1 property 70 units  1 property 84 units   3 properties 229 units   2 properties 138 units 2 properties 140 units 1 property 145 units    3 properties 302 units  4 properties 268 units      5 properties 480 units      23 states 53 cities 55 properties 5,719 units 

  8. For More Information on HUD’s Green Initiative: • OAHP Green Website: http://hudstage.hud.gov/offices/hsg/omhar/paes/greenini.cfm • OAHP Resource Desk Q&A: www.oahp.net/(Free Registration) • Contact for Green Initiative Information: Theodore.K.Toon@HUD.GOV Carolyn.Carpenter.Porritt@HUD.GOV Jerry.R.Anderson@HUD.GOV

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