Those who want to learn more about funding coming online for the Department of Housing and Urban Development’s Green and Resilient Retrofit Program can attend a webinar today at 2 p.m. ET.
Katie Smith Sloan, president and CEO of LeadingAge, called the GRRP funding disbursement “a tremendous step forward toward ensuring that low-income older adults are safe and protected as threats from climate change escalate.”
Building owners will be able to invest in technologies such as solar panels, heat pumps, wind-resistant roofing, insulation, low embodied carbon materials and other measures that will reduce greenhouse gas emissions and make properties safer for residents in the face of more severe weather and a changing climate. The program’s implementing notice and notices of funding opportunities detail a range of grant and loan funding options for affordable senior housing and other multifamily housing owners with varying levels of expertise with green retrofits.
The GRRP will award $837.5 million in grant funding and $4 billion in loan authority from HUD through Inflation Reduction Act The funding is targeted for HUD’s multifamily housing programs, including project-based Section 8, Section 202 Supportive Housing for the Elderly Program, Section 236 and Section 811 properties. HUD will provide up to $750,000 per property or $40,000 per unit for construction and transaction costs to incorporate the selected technologies into the recapitalization. Owners are responsible for the balance of costs.
“Lower-income communities are often the last to obtain access to state-of-the-art efficiency, resilience, and clean energy technologies. The Green and Resilient Retrofit Program will change this by providing communities with an opportunity to lead the multifamily sector in retrofitting homes to make them safer and more sustainable for the future,” HUD Assistant Secretary for Housing Julia Gordon said earlier this month.
The webinar will focus on the full scope of the GRRP, including the award requirements and timelines for applications. A live question-and-answer session will follow HUD’s presentation.
Register here for the webinar.
