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1 Green Initiative HUDs Office of Affordable Housing Preservation (OAHP) IPED – Enterprise Chicago August, 2008.

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Presentation on theme: "1 Green Initiative HUDs Office of Affordable Housing Preservation (OAHP) IPED – Enterprise Chicago August, 2008."— Presentation transcript:

1 1 Green Initiative HUDs Office of Affordable Housing Preservation (OAHP) IPED – Enterprise Chicago August, 2008

2 2 HUDs Green Initiative Introduced at IPED-Enterprise in San Francisco, July, 2007 A pilot initiative to encourage owners of affordable, multifamily properties to rehabilitate and operate their properties using sustainable Green Building principles.

3 3 Some HUD Background Energy Efficiency Efforts Energy Efficiency Efforts Office of Healthy Homes Office of Healthy Homes The Mark-to-Market (M2M) Program The Mark-to-Market (M2M) Program Created by Congress in 1997 Created by Congress in 1997 Preservation of Existing Housing Stock Preservation of Existing Housing Stock Rehabilitates Section 8 Properties Rehabilitates Section 8 Properties Restructures Underlying Mortgage Debt Restructures Underlying Mortgage Debt 1,700 Properties with over 150,000 Units Completed to Date 1,700 Properties with over 150,000 Units Completed to Date

4 4 Why pilot Green in M2M? Challenges of bringing green to most of the HUD- assisted portfolio. Challenges of bringing green to most of the HUD- assisted portfolio. Opportunity to fund these efforts in a representative sample of the HUD portfolio. Opportunity to fund these efforts in a representative sample of the HUD portfolio. Ability to collect real data from within the HUD portfolio for broader application. Ability to collect real data from within the HUD portfolio for broader application. M2M property owner incentives to go green. M2M property owner incentives to go green. The Pilot Program works within existing M2M statutes and regulations, and within current budget authorities. The Pilot Program works within existing M2M statutes and regulations, and within current budget authorities.

5 5 Project Eligibility for the Initiative: All M2M properties are eligible All M2M properties are eligible 55 properties/over 5,700 apartment units currently in the pilot 55 properties/over 5,700 apartment units currently in the pilot Requirements for a Green M2M Restructure: Requirements for a Green M2M Restructure: Physical Condition Assessment Physical Condition Assessment Green Rehab (Baseline, Fixed, and Variable) Green Rehab (Baseline, Fixed, and Variable) Green R4R plan – 20 Year Physical Needs Green R4R plan – 20 Year Physical Needs Green Operations & Maintenance (O&M) Plan Green Operations & Maintenance (O&M) Plan Staff and Contractor Certification Requirements Staff and Contractor Certification Requirements

6 6 Owner Incentives Reduced Owner Contribution to Rehab Reduced Owner Contribution to Rehab From 20%, to as little as 3% of Rehab Costs From 20%, to as little as 3% of Rehab Costs Applied to All Systems, Appliances, and Components that meet the Green Standard Applied to All Systems, Appliances, and Components that meet the Green Standard Increased Incentive Performance Fee (IPF) Increased Incentive Performance Fee (IPF) Up to 50% Increase Up to 50% Increase Admin Fee Allowed from Additional Funds Admin Fee Allowed from Additional Funds Incentive to Owners to Seek Grants Incentive to Owners to Seek Grants Potential Cash Flow Increase from Savings Potential Cash Flow Increase from Savings Improved Property Improved Property

7 7 1 property 84 units 1 property 50 units 3 properties 289 units 4 properties 416 units 4 properties 1397 units 6 properties 516 units 3 properties 229 units 5 properties 480 units 4 properties 268 units 1 property 70 units 1 property 52 units 1 property 26 units 2 properties 78 units 1 property 145 units 2 properties 138 units 3 properties 302 units 1 property 25 units 4 properties 322 units 2 properties 198 units 1 property 218 units 2 properties 140 units 1 property 73 units 2 properties 203 units M2M Green Initiative – Status at June 23, states 53 cities 55 properties 5,719 units

8 8 For More Information on HUDs Green Initiative: OAHP Green Website: OAHP Green Website: OAHP Resource Desk Q&A: OAHP Resource Desk Q&A: (Free Registration) (Free Registration) Contact for Green Initiative Information: Contact for Green Initiative Information:


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