Affordable Housing and Tax Credit Developments NationallyThe U.S. Department of Housing and Urban Development (HUD) Announces Availability of $25 Million for Multifamily Energy Innovation Fund

September 1, 2011by George Danneman

The U.S. Department of Housing and Urban Development (HUD) Office of Affordable Housing Preservation (OAHP) issued a notice of funding availability (NOFA) of $25 million for the Multifamily Energy Innovation Fund to be used for the purpose of energy efficiency upgrades at multifamily properties.

The goals of this NOFA are to:

  • Demonstrate solutions to the primary and longstanding challenges to implementing energy efficiency and renewable energy improvements, in existing affordable multifamily properties;
  • Leverage private capital and additional public funding to demonstrate “proof of concept” of specific models; and
  • Conduct applied research to document and disseminate mainstream, scalable approaches to retrofitting affordable multifamily properties.

Funds will be awarded in two categories:

  • Financing Demonstrations – initiatives that demonstrate innovative methods for financing retrofits of multifamily properties that achieve the criteria described in the NOFA. $7.5 million is the maximum award amount.
  • Applied Research Demonstrations – initiatives that demonstrate innovative and scalable methods of defining and implementing a solution to a longstanding barrier to multifamily residential retrofits that is not primarily financial in nature. $3 million is the maximum award amount.

Applications for the grant must be received no later than Oct. 20, 2011.

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