Are you one of millions of Americans who are suffering from payment shock when you open your monthly utility bills?
There is a new energy retrofit program moving its way through Congress which is expected to be signed into law on April 17th, 2009.
Grants and loans will be made available through HUD’s Office of Affordable Housing Preservation (OAHP) for eligible property owners to make energy and green retrofit investments in the property, to ensure the maintenance and preservation of the property, the continued operation and maintenance of energy efficiency technologies, and the timely expenditure of funds.
Physical and financial analyses of the properties will be conducted to determine the size of each grant and loan. Incentives will be made available to participating owners. The terms of the grants or loans will include continued affordability agreements. Grant and loan funds must be spent by the receiving property owner within two years. Full detail of how to apply, and grant and loan terms, will be published in a Housing Notice within 60 days of the Recovery Act being signed into law (by April 17, 2009).
The Catalog of Federal Domestic Assistance (CFDA) number for this program is 14.318.
Process for Making Awards
Full detail of how to apply, and grant and loan terms, will be published in a Housing Notice within 60 days of the bill being signed into law (by April 17, 2009).
Owners of properties receiving project-based assistance pursuant to section 202 of the Housing Act of 1959 (12 U.S.C. 17012), section 811 of the Cranston- Gonzalez National Affordable Housing Act (42 U.S.C. 8013, or Section 8 of the United States Housing Act of 1937, as amended (42 U.S.C. 1437f).
Total Funding: $250 Million Total Funds Allocated:
Total Funds Obligated: To be determined
Total Funds Expended: To be determined