HUD Announces Availability of $25 Million for Energy Innovation Grants

On August 22, HUD announced the availability of $25 million in grants for energy efficiency upgrades at multifamily properties as part of HUD’s Multifamily Energy Innovation Pilot Program.  The Energy Innovation Fund was created as part of HUD's FY 2010 Budget to encourage private investment in replicable, cost-saving energy efficiency retrofits.

 

HUD will award funds in two categories, Financing Demonstrations and Applied Research Demonstrations.  Applicants who can demonstrate innovative methods for financing retrofits of multifamily properties should apply for the former, and those with innovative solutions to overcoming behavioral, structural, or regulatory barriers to retrofits should apply for the latter. The maximum possible Financing Demonstration award for any applicant is $7.5 million and the maximum Applied Research Demonstration award amount is $3 million.

 

Grantees are required to demonstrate that they have acquired matching funds of at least $2 in private, non-governmental capital for every $1 requested for Financing Demonstrations, and at least $1 in non-governmental capital for each dollar for Applied Research Demonstrations.  The requested funds must constitute at least 10 percent of the total capital for the proposed project. All grantees will be expected to use their awards within 24 months of award execution.

 

HUD will host a webcast on September 19 from 11:00 a.m. - 12:30 p.m. to review the Notice of Funding Availability (NOFA) and to answer questions.  Applications for Energy Innovation Funds grants are due to HUD by October 20, 2011.