11/13/2024 | Press release | Distributed by Public on 11/13/2024 11:04
HUD No. 24-296 HUD Public Affairs (202) 708-0685 |
FOR RELEASE Wednesday November 13, 2024 |
Newly closed Green and Resilient Retrofit Program transaction will fund installation of rooftop solar system.
CALAIS, ME - Today, the U.S. Department of Housing and Urban Development's (HUD) announced the closing of a $231,623 Green and Resilient Retrofit Program (GRRP) transaction to help finance energy efficiency and climate resilience improvements for affordable rental homes at the St. Croix Apartments in Calais, Maine, home to 26 seniors. This transaction is the first to be used in a construction project in Maine. Today's announcement underscores the Biden-Harris Administration's commitment to ensuring the benefits of American's clean energy transition reach all Americans and needed repairs are made to preserve affordable housing.
"Through the Inflation Reduction Act and the ongoing support of President Biden and Vice President Harris, HUD continues to deliver funding to modernize HUD-assisted housing and ensure these homes are resilient," said HUD Agency Head Adrianne Todman. "Today's announcement means Calais seniors will benefit from the energy efficiency upgrades resulting from the installation of solar energy."
St. Croix Apartments is an affordable housing property serving low-income seniors. HUD provides rental assistance under its Section 202 Housing for Low-Income Elderly program. St. Croix Apartments will use HUD's GRRP funding to install a 79.87 kW grid-tied solar system which will support a number of energy efficient features at the property including unit heat pumps.
"We are pleased to complete this Green and Resilient Retrofit Program funding transaction with St. Croix Apartments to help support the energy efficiency and climate resilience for the homes of Calais seniors," said Ethan Handelman, Deputy Assistant Secretary for Multifamily Housing Programs. "Funding this work in Calais to improve affordable homes for low-income seniors is exactly what the Inflation Reduction Act and its $1 billion in funding for GRRP was intended to do."
About GRRP
Funded under the Inflation Reduction Act, GRRP provides funding for direct loans and grants to make improvements to HUD-subsidized properties serving very low-income families, seniors, and persons with disabilities. Properties were selected through three distinct funding opportunities designed to meet the diverse needs of properties across the country. Funding can be used to improve energy or water efficiency, enhance indoor air quality, install zero-emission electricity generation and energy storage equipment, acquire low-emission building materials, implement building electrification strategies, or address and improve climate resilience. The program seeks to amplify recent technological advancements in energy and water efficiency and to bring a new focus on preparing for climate hazards by reducing residents' and properties' exposure to hazards and by protecting life, livability, and property when disaster strikes.
More program information is available on the GRRP Website.
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