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    4. HUD allocates funds and accepts comments for a greener future

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    Alert / Affordable Housing

    HUD allocates funds and accepts comments for a greener future

    Sep 26, 2022

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    By Harry Kelly and Deborah VanAmerongen

    HUD seeks input on use of Inflation Reduction Act funds for sustainability and efficiency upgrades in HUD-assisted buildings.

    What’s the impact?

    • HUD’s goal is to support energy and water efficiency retrofits and climate resilience of HUD-assisted multifamily properties
    • HUD requests feedback from owners, sponsors, and energy services companies that participated in prior HUD sustainability initiatives

    DOWNLOAD

    HUD and sustainability upgrades (PDF)

    HUD has requested public input on how the agency can leverage Inflation Reduction Act funds to design the Green and Resilient Retrofit Program (GRRP), which is intended to enhance sustainability and implement energy benchmarking procedures for HUD-assisted multifamily properties. The Request for Information, is slated for publication in the Federal Register on September 27, 2022, and is available for public inspection. Comments are due on or before October 27, 2022.

    The Inflation Reduction Act of 2022 has encouraged investment and economic development for multifamily building owners carrying out efficiency upgrades and retrofits. Funds from the Act have been allocated to HUD for loans and grants for eligible properties seeking to rehabilitate and retrofit HUD-assisted buildings. HUD’s goal is to make eligible HUD-assisted properties more resilient to natural hazard events while also modernizing them for energy efficiency and emissions benchmarking. Specifically, HUD’s Request for Information seeks to solicit information regarding the rollout of the GRRP in the following key areas:

    • Energy and Water Efficiency Saving Measures;
    • Comprehensive Climate Resiliency Planning;
    • Opportunities to Leverage State and Local Multifamily Energy Efficiency Programs;
    • Water and Energy Utility Benchmarking; and
    • Equity considerations related to people with disabilities, older adults, and communities of color.

    GRRP builds upon the 2009 American Recovery Act “Multifamily Green Retrofit Program,” the 2016 “Multifamily Energy and Water Conservation Pay for Success Pilot,” and other HUD energy efficiency efforts. Owners, sponsors, and energy services companies that participated in these programs are encouraged to provide their feedback, particularly about any aspects of those previous programs that worked or did not work well. HUD anticipates providing multiple rounds of funding for this program. The GRRP aims to preserve long-term affordability, improve the quality of buildings, livability, and the quality of life of residents. If structured properly, the GRRP will provide a much-needed boost in funding to assist multifamily owners in achieving these goals.

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    The foregoing has been prepared for the general information of clients and friends of the firm. It is not meant to provide legal advice with respect to any specific matter and should not be acted upon without professional counsel. If you have any questions or require any further information regarding these or other related matters, please contact your regular Nixon Peabody LLP representative. This material may be considered advertising under certain rules of professional conduct.

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