HUD released the Notice of Funding Opportunity (NOFO) for its Green and Resilient Retrofit Program (GRRP). The funding can be used for solar panels, heat pumps, wind-resistant roofing, insulation, low embodied carbon materials 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. Eligible owners primarily include owners receiving HUD rental assistance under Multifamily Section 8 project-based rental assistance, Section 202 Supportive Housing for Low-Income Elderly and Section 811 Supportive Housing for Low-Income Persons with Disabilities.
Funding will be awarded under three categories:
- $140 million for Elements, targeted to properties that are pursuing a recapitalization, but have not yet closed on financing, and have an opportunity to make these transactions greener and more climate resilient through targeted upgrades of specific building components.
- $400 million for Leading Edge for high levels of energy efficiency, electrification, emissions reduction, climate resilience and the use of low embodied carbon materials aimed at achieving net zero energy or net zero carbon certification.
- $1.47 billion for Comprehensive, aimed at properties with a high need for investments in energy efficiency, emissions reduction and climate resilience.
The Inflation Reduction Act provided HUD with $837.5 million in grant and loan subsidy funding and $4 billion in loan commitment authority for this new program. To learn more, register for HUD’s webinar at 2 p.m. ET on May 23. To participate in NH&RA’s green working group, please email firstname.lastname@example.org.