DIVE BRIEF To improve multifamily housing energy efficiency and resiliency, HUD offers $4.8B for retrofits

Dive Brief:

• The Department of Housing and Urban Development has opened its first round of funding applications for the Green and Resilient Retrofit Program, which will provide a total of $4.8 billion in direct loans and grants for HUD-assisted multifamily properties to fund green, energy-efficient and resiliency renovation projects.
• The housing agency published a set of guidelines and qualifications for potential applicants to the GRRP, including information on each of its “cohorts,” or funding paths. The program is only available for properties with a project-based HUD rental assistance contract, including Section 8, among others.
• The GRRP was first established under the Inflation Reduction Act, which was signed into law in August 2022. The act provided $1 billion to HUD’s Office of Multifamily Housing Programs in order to implement the project, according to a press release.

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