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Green Retrofit Program for Multifamily Housing

Green Retrofit Program for Multifamily Housing. HUD’s Office of Affordable Housing Preservation (OAHP) IPED June, 2009. GRP Introduction.

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Green Retrofit Program for Multifamily Housing

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  1. Green Retrofit Program for Multifamily Housing HUD’s Office of Affordable Housing Preservation (OAHP) IPED June, 2009

  2. GRP Introduction The Green Retrofit Program for Multifamily Housing (GRP) was authorized by the American Recovery and Reinvestment Act of 2009, whose objectives are to: • Boost the economy • Create jobs • Restore economic growth • Strengthen America’s middle class .

  3. The American Recovery and Reinvestment Act of 2009 • $13.6 b at HUD: • Public Housing - $4 billion • Healthy Homes/Lead Abatement - $100 million • Homelessness/Rapid re-Housing - $1.5 billion • Assisted Housing Green Retrofits - $250 million • Native American Block Grants - $510 million • Tax Credit Assistance Program - $2.25 billion • CDBG - $1 billion • Neighborhood Stabilization Program - $2 billion • $5 b at DOE - Weatherization Assistance Program

  4. GRP Introduction Program guidance is provided in Housing Notice H-09-02, published May 13, 2009. The Notice, all forms, and application are available at www.hud.gov/recovery: “… $250,000,000 shall be for grants or loans for energy retrofit and green investments …” .

  5. HUD Background: • The Mark-to-Market (M2M) Program • Created by Congress for preservation and savings • Over 3,000 properties to date, 1,700 full restructures • The Green Initiative • Introduced in 2007 to incentivize M2M owners to rehab properties in the most sustainable way • Borrows practices from M2M, Energy Task Force, and Office of Healthy Homes • 75 properties participating in the pilot Set the stage for the Green Retrofit Program

  6. GRP Introduction • To be administered by HUD’s OAHP • OAHP administered M2M and the Green Initiative • 22 LEED APs • Will use contractor/PAE structure • Funding is available for Section 8, 202, and 811 properties with project-based assistance • Minimum project size, and limits by property type, geography, and owner entity

  7. GRP Introduction • Maximum improvements of $15,000/unit expected to average $10,000/unit • Cash-flow loans, and grants in some cases • Green and energy retrofits only (improvements that conserve energy, water, improve indoor air quality, and/or benefit the environment) • No cost to most property owners (except in limited cases) • Applications accepted beginning June 15, 2009

  8. GRP Benefits Benefits to Residents: • Tenant meeting to gather resident input to property needs and opportunities • May replace old, inefficient appliances and equipment with more energy-efficient models • Increase thermal comfort • May reduce dust, mold, and pests • May provide healthier homes • Preserves affordable housing for long term

  9. GRP Benefits Benefits to HUD and Taxpayers: • Extended affordability for at least 15 years • Reduced utility costs (from HUD’s $5b costs) • Improved indoor air quality for residents • Trained green property management staff • More sustainable operations and maintenance • Use of Integrated Pest Management • Unprecedented collaboration between federal agencies (HUD, DOE, DOT, EPA, CDC, etc) around housing and environmental issues

  10. GRP Benefits Benefits to Property Owners: • Improved property using low-cost capital • Performance-based financial incentives • Access to green building materials, products and technologies • May replace old, inefficient appliances and equipment with more energy-efficient models • Contributes to energy and water savings, and broader environment al benefits • Share in future utility savings

  11. GRP Owner Incentives • Pre-Development Incentive – 1% of Green Retrofits up to $10,000, paid at closing • Efficiency Incentive – 3% of Green Retrofits up to $30,000, paid upon satisfactory and timely rehab • Incentive Performance Fee – 3% of EGI, paid annually from Surplus Cash upon meeting pre-conditions • Targeted Job Creation Incentive (optional) – 10% of expenditures up to $25,000, for contracting with Eligible Residents or Concerns pursuant to Section 3

  12. GRP Process: • Tenant Meeting • Physical Condition Assessment • Contractor/PAE’s Plan Development • Owner Secures Bids / Estimates • Discussions with PAE and Owner • Green Operations & Maintenance Plan • Final Feasibility Assessment

  13. GRP Process: • HUD Approval of Retrofit Plan • Green Retrofit Plan Commitment • Closing of Loan/Grant, Funds Escrowed • Start Green Retrofits Timely • All Work Subject to Davis Bacon • Recovery Act Reporting • Completion of Green Retrofits • Final Adjustments and Close-Out

  14. GRP Application: • Beginning June 15, 2009 • Applications must be complete, or will be rejected. Complete application Includes: • 14 items of Required Information • 15 Owner Certifications • 8 Owner Commitments • Initial Feasibility Assessment, showing “Pass”** • hud.gov/recovery has all of the forms • All accepted and waitlist applications will be posted at hud.gov/recovery

  15. For More Information : • HUD Recovery Website: www.hud.gov/recovery • 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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