This article was initially published on multifamily.biz, and reposted on www.josephbernard.net. With rising utility costs dramatically increasing, it will be interesting to see how this program may reduce energy costs. The Energy Innovation Fund ap
plication is also attached.
WASHINGTON, DC – The U.S. Department of
Housing and Urban Development announced that $25 million is available through HUD’s new Multifamily Energy Efficiency Pilot program. Once awarded, these grants will help develop new innovative approaches for multifamily residential properties to reduce their energy consumption, lower greenhouse gas emissions, while saving money for the residents, property owners and taxpayers.
“HUD is extremely excited about this pilot program because it aligns with the goals of the Administration to create green jobs and build sustainable communities,” said Acting Federal Housing Commissioner Carol Galante. “The innovations that flow from this pilot program will serve as models to create future industry standards in energy efficiency.
“Rather than tell applicants what we want to see, we are asking the private sector to develop new innovative approaches to create jobs and help people save energy and save money. Since these grants will be complemented by private capital, the investors will also have a unique opportunity to become leaders in helping make affordable multifamily homes greener,” said Theodore Toon, Associate Deputy Assistant Secretary for HUD’s Office of Affordable Housing Preservation.
The goal of the pilot program is to develop ideas and mechanisms that could potentially be replicated nationally, as well as help create industry standards in the home energy efficiency retrofit market. In addition, the pilot program will create a public/private partnership as a result of capital investments from private industries and create green jobs in construction, property management, and technical analysis (e.g. energy audits and building commissioning), including opportunities for low income residents.
HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business.
Source: U.S. Department of Housing and Urban Development
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