Deadline: Rolling

HUD has issued application and eligibility guidance for its "Green Retrofit Program for Multifamily Housing." The $250 million loan and grant program is funded by the economic stimulus bill enacted in February (P.L. 111-5). It is limited to properties receiving HUD project-based assistance. HUD will begin accepting applications on June 15, 2009 and will make awards on a first come, first served basis.

Interested owners are encouraged to move quickly in reviewing their eligibility and gathering application materials, as the process is complex and funding is limited by building type and geographic region. In total, HUD estimates that funding is available for approximately 300 properties.

Eligible owners can receive up to $15,000 per apartment unit towards green building improvements that boost energy efficiency, water conservation, improve indoor air quality, and provide other environmental benefits. Property owners will work with the Retrofit Program to establish the most effective retrofit plan for their site and must accept 75 percent of the program's recommended retrofit suggestions.

In exchange for the funds, participating owners must make numerous commitments to the continued affordability and ongoing green operation of the property. For instance, owners must agree to extend project affordability use agreements for 15 years beyond the existing use restricted period and operate recycling, integrated pest management and green maintenance programs.

Related Resources:
HUD Multifamily Green Retrofit Program Portal