According to a press release from the U.S. Department of Housing and Urban Development (HUD), the department is allocating $103.4 million for energy and climate upgrades targeting 1,500 low-income households. Julia Gordon, President of the National Community Stabilization Trust, emphasized the importance of protecting and strengthening homes for vulnerable populations, stating, "We must protect and strengthen the homes in which Americans reside, particularly those occupied by our nation's most vulnerable populations."
The funding is specifically earmarked for 16 HUD-Assisted Multifamily Housing properties as part of the Green and Resilient Retrofit Program (GRRP). The goal of the program is to make structural improvements to homes, rendering them zero energy and resilient against climate-related challenges. These upgrades are designed to benefit low- to modest-income families and align with the Biden-Harris Administration's Justice40 Initiative, which aims to direct federal investments towards disadvantaged communities.
In addition to the $103.4 million allocation, HUD has also announced a larger pool of over $800 million in grants and loans. These funds are intended to leverage up to $4 billion in funding for similar housing projects. To assist applicants in accessing these funding opportunities, HUD has introduced a Funding Navigator tool. This tool allows users to explore available federal grants and loans under various programs, including the Inflation Reduction Act and the Bipartisan Infrastructure Law.
HUD Secretary Marcia L. Fudge expressed the importance of the Green and Resilient Retrofit Program, stating, "The Green and Resilient Retrofit Program continues to improve our nation's climate resilience by making sure low-income families and individuals have access to affordable housing that is strong, healthy, and energy efficient."
The press release concludes by highlighting the alignment of this funding with the broader goals of the Biden-Harris Administration in addressing the climate crisis and housing affordability. It emphasizes that this initiative is complementary to other HUD programs aimed at increasing the supply of affordable and sustainable housing.
