Specifically, the legislation would allow multifamily owners who participate in the Section 8 Project-Based Rental Program, the Supportive Housing for the Elderly program, and the Housing for Persons with Disabilities Program, to access up-front capital for making energy efficiency retrofits.
The bill would give HUD the authority to enter into budget-neutral, performance based agreements that result in reductions in energy or water costs for multifamily housing. Importantly, the program is designed to offer incentives for both the resident and the owner.
NMHC/NAA continue to work closely with HUD on innovative ways to improve energy efficiency. We will likely know more about the prospects for the House bill in the Senate after the August Congressional recess.