$1.47 billion AVAILABLE for energy EFFICIENCY housing renovations!
Funding Overview
Element Stream
Funding of up to $40,000 per unit, or $750,000 per property
Elements awards provide funding for owners to include proven and meaningful climate resilience and utility efficiency measures in projects that are already in the process of a recapitalization transaction. HUD expects to make approximately 200 awards with $140 million in funding.
Leading Stream
Funding of up to $60,000 per unit or $10,000,000 per property
Leading Edge awards provide funding for ambitious retrofit activities to achieve an advanced green certification. Best for properties in the planning stages of a recapitalization effort. HUD expects to make approximately 100 awards with $400 million in funding.
Comprehensive Stream
Funding of up to $80,000 per unit or $20,000,000 per property.
Comprehensive awards provide funding to properties with the highest need for climate resilience and utility efficiency upgrades, regardless of prior development or environmental retrofit experience. HUD expects to make approximately 300 awards with $1.47 billion in funding.
Eligible Applicants
Owns a property that is assisted under one of the following forms of assistance contract with HUD:
Properties assisted by the following types of Project-Based Rental Assistance (PBRA) Housing Assistance Payments (HAP) Contracts:
- New Construction
- State Housing Agencies Program
- Substantial Rehabilitation
- Rural Housing Services Section 515/8 (including Section 8 Farmer Home Administration (FmHA))
- Loan Management Set-Aside (LMSA)
- Property Disposition Set-Aside (PDSA)
- Rental Assistance Demonstration (RAD) PBRA Contracts executed on or before September 30, 2021
- Pension Fund PBRA Contracts executed on or before September 30, 2021.
Properties assisted under Section 202 of the Housing Act of 1959 (12 U.S.C. 1701q) and Section 202 of the Housing Act of 1959 (former 12 U.S.C. 1701q), as such section existed before the enactment of the Cranston-Gonzalez National Affordable Housing Act (“Section 202”), including:
- Section 202/162 Project Assistance Contract (PAC)
- Section 202 Capital Advance (commonly known as “Section 202 Project Rental Assistance Contract” (PRAC) properties)
- Section 202 Direct Loans (commonly known as “Pre-1974 Section 202 Direct Loan” properties)
- Properties assisted under Section 811 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 8013) (“Section 811”), including:
- Section 811 Capital Advance (commonly known as “Section 811 Project Rental Assistance Contract” (PRAC) properties)
- Properties assisted under Section 236 of the National Housing Act (12 U.S.C. 1715z-1) which are receiving Section 236 Interest Reduction Payments (IRP)
- Faith-based organizations
Has a signed purchase agreement, purchase option, or an agreement or option to enter into a long-term ground leasehold interest (more than 50 years) for a property assisted under the programs listed above, provided that A) the applicant submits a consent to the application executed by the owner; B) at the time of any request by HUD for confirmation between the date of application and the financial closing, the purchase has either been consummated or the purchase agreement or purchase option remains valid; and C) the applicant or its assignee is the legal owner of the property at the point of Closing as defined in Housing Notice H 2023-05.
Eligible Activities
Element Stream
- installation of electric HVAC heat pumps
- energy star windows
- fire resistant roofs
- clean energy generation systems
Leading Stream
Provided during any stage of a recapitalization effort, the Leading Edge Awards provide resources to complement an Owner’s existing financing strategy, allowing them to design the recapitalization to the highest standards of energy efficiency and climate resilience. Leading Edge awards are designed for Owners aiming to quickly meet ambitious carbon reduction and resilience goals without requiring extensive collaboration with HUD.Comprehensive Stream
Awardees will have access to support in commissioning property assessments to plan a redevelopment that meets the property’s specific needs as well as GRRP retrofit objectives.
May 30, 2024
