HUD has made funding available under three cohorts:
Elements - up to $40k per unit or $750k per propertyLeading Edge - up to $60k per unit or $10M per propertyComprehensive - up to $80k per unit or $20M per property
See the link for the breakdown of qualifications.
On August 16, 2022, the Inflation Reduction Act (IRA) was signed into Law. Section 30002 of Title III of the IRA, (Publ. L. 117-169), titled “Improving Energy Efficiency or Water Efficiency or Climate Resilience of Affordable Housing”, provides funding for direct loans and grants to fund projects that improve energy or water efficiency, enhance indoor air quality or sustainability, implement the use of zero-emission electricity generation, low-emission building materials or processes, energy storage, or building electrification strategies, or address climate resilience, of eligible HUD-assisted multifamily properties. 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.
***parts of this require benchmarking on portfolio manager which is something we can help with
Ask us your questions directly during our GRRP Office hours!Every Wednesday, May 24 through July 19, 2023 from 3:00-4:00 PM EST (No office hours on Wednesday, July 5)Join us here: https://zoom.us/j/99199273258 (No registration is necessary)Office Hours recordings are now available on HUD's YouTube channel: May 24, May 31, June 7, June 14.
Fact Sheet Overview: https://www.hud.gov/sites/dfiles/Housing/documents/GRRP_Overview_FactSheet.pdf