Kristen Cheriegate | ICAST Policy Analyst
==========
Study Shows States How to Maximize Federal Funding
The American Council for an Energy-Efficient, the AnnDyl Policy Group, and the Building Performance Association have released a new paper identifying strategies that policymakers, efficiency program administrators, and other decision-makers can use to support home energy efficiency upgrades by braiding and stacking new federal funds with existing state, local, utility, and other resources. It explains how to (1) direct funding toward program elements that have proven most successful and (2) guide property owners and contractors as they navigate funding options for their projects. The paper contains a review of new and existing funding sources for residential energy efficiency and electrification, as well as a discussion of how funding can have more impact by supporting the key elements for successful retrofit programs. It includes several case studies highlighting how programs braid and stack funds to support their objectives.
Green and Resilient Retrofit Program First New York Transaction Closed
U.S. Department of Housing and Urban Development announced it has completed a $192,000 loan transaction under the Green and Resilient Retrofit Program (GRRP) with L+M Fund Management to help finance energy efficiency and climate resilience renovations of the Revive 103 apartment community in New York, New York. Revive 103 is a 60-unit, six-story building serving very low-income families. HUD provides project-based rental assistance to 59 of the households residing at the property. Originally constructed in 1920, the property is undergoing rehabilitation to update kitchens, bathrooms, and common spaces. L+M Development Partners will use the funding to tighten the building envelope, sealing all windows and openings in the exterior to reduce heating and cooling costs.
Note that the final application period for the GRRP Elements cohort—which supports current and recently closed recapitalization transactions in their final planning stages by providing gap financing—closes on July 31, 2024.
DOE Weatherization Innovation Notice of Intent
The DOE’s Weatherization Assistance Program (WAP) published a Notice of Intent (NOI) to announce an upcoming issuance of a $36 million Funding Opportunity Announcement (FOA) titled “WAP Enhancement & Innovation.” Eligible applicants will include existing WAP Grantees, WAP Subgrantees, and other nonprofit entities. The FOA topic areas may include multifamily housing, single-family & manufactured housing, and workforce development. The FOA is scheduled to come out around 30 days after the NOI’s publication (June 20, 2024).