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Community and Economic Development and Housing Assisted Housing Stability and Energy and Green Retrofit Programs
Total Funding Available: $2.25 billion
Overview
$2 billion for project based rental assistance (e.g., “Section 8”) for a 12-month period. In addition, $250 million for grants or loans for energy retrofit and green investments in such assisted housing.
Special Factors
Funds must be expended in two years. Projects funded with grants or loans must comply with federal prevailing wage laws (cited in the bill as subchapter IV of chapter 31 of title 40, United States Code).
Secretary may establish terms to ensure the maintenance and preservation of the property, the continued operation and maintenance of energy efficiency technologies, and timely expenditure of funds. Secretary may also provide incentives to owners to undertake energy or green retrofits as part of such grants or loans, including fees to cover investment oversight and implementation, or to encourage job creation for low-income of very low-income individuals.
Secretary may share in a portion of future property utility savings. Property owner must commit to an additional period of affordability not less than 15 years. Secretary may establish other provisions in implementing the program.
How to Access Funding
Housing assistance per formula, Energy and Green Retrofit per competitive grants and loans under process to be developed by HUD secretary.
Federal Contact
Department of Housing and Urban Development
Office of Housing Choice Vouchers
www.hud.gov/offices/pih/programs/hcv
Office of Affordable Housing Preservation
www.hud.gov/offices/hsg/omhar
State Contact
Not applicable at this time
MMA Staff Contact
Matthew G. Feher, This e-mail address is being protected from spambots. You need JavaScript enabled to view it , (617) 426-7272
Community and Economic Development and Housing Assisted Housing Stability and Energy and Green Retrofit Programs
Assisted Housing Stability and Energy and Green Retrofit Programs
Total Funding Available: $2.25 billion
Overview
$2 billion for project based rental assistance (e.g., “Section 8”) for a 12-month period. In addition, $250 million for grants or loans for energy retrofit and green investments in such assisted housing.
Special Factors
Funds must be expended in two years. Projects funded with grants or loans must comply with federal prevailing wage laws (cited in the bill as subchapter IV of chapter 31 of title 40, United States Code).
Secretary may establish terms to ensure the maintenance and preservation of the property, the continued operation and maintenance of energy efficiency technologies, and timely expenditure of funds. Secretary may also provide incentives to owners to undertake energy or green retrofits as part of such grants or loans, including fees to cover investment oversight and implementation, or to encourage job creation for low-income of very low-income individuals.
Secretary may share in a portion of future property utility savings. Property owner must commit to an additional period of affordability not less than 15 years. Secretary may establish other provisions in implementing the program.
How to Access Funding
Housing assistance per formula, Energy and Green Retrofit per competitive grants and loans under process to be developed by HUD secretary.
Federal Contact
Department of Housing and Urban Development
Office of Housing Choice Vouchers
www.hud.gov/offices/pih/programs/hcv
Office of Affordable Housing Preservation
www.hud.gov/offices/hsg/omhar
State Contact
Not applicable at this time
MMA Staff Contact
Matthew G. Feher, This e-mail address is being protected from spambots. You need JavaScript enabled to view it , (617) 426-7272
Last Updated on March 23, 2009
