Dear Multifamily Owners and Operators,
Today we have awarded approximately $18 million in grant funding and loan commitments under the Green and Resilient Retrofit Program (GRRP) to owners of properties participating in HUD Multifamily Assisted Housing programs. Award funding announced today will go to 28 properties containing more than 3,400 HUD Multifamily assisted rental homes for low-income families, seniors, and persons with disabilities. The GRRP awards will help fund energy efficiency and climate resilience upgrades at these properties.
This is the first wave of GRRP awards we will be releasing throughout 2023 and 2024. Read more in HUD’s press release issued today.
President Biden’s Inflation Reduction Act provided HUD with more than $837 million in grant funding and up to $4 billion in loan commitment authority to award under this program - the first HUD program to simultaneously invest in energy efficiency, energy generation, and climate resilience in multifamily housing.
The program’s Notices of Funding Opportunity (NOFO) and additional guidance released on May 11, 2023, detail the multiple grant and loan funding options that property owners can apply for under the program’s three categories:
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Elements provides funding to owners to include proven and meaningful climate resilience and utility efficiency measures in projects that are already in the process of being recapitalized.
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Leading Edge provides funding to owners with plans for ambitious retrofit activities to achieve an advanced green certification.
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Comprehensive provides funding to properties with the highest need for climate resilience and utility efficiency upgrades, regardless of prior development or environmental retrofit experience.
Property owners are encouraged to continue to submit applications for grant awards or loans in any of the three categories. HUD is accepting applications under one category each month for the duration of funding availability. HUD expects to announce awards regularly throughout 2023 and 2024, including awards under the Leading Edge category in the coming weeks.
