Affordable Apts Energy Funds
Affordable Apartments Get $100 Million for Energy Efficient Renovations
Source: nreionline.com
"Some 100 affordable housing developments across the country have been awarded more than $100 million to improve their energy efficiency as part of the federal Housing and Urban Development (HUD) Green Retrofit Program for Multifamily Housing.
The apartment renovations will be completed with funds provided through the American Recovery and Reinvestment Act of 2009, according to HUD Secretary Shaun Donovan.
The 100 awards are expected to create an average energy savings of $33,000 per property, or $3.3 million annually. On average, HUD projects that tenants will save more than $250 each on utility bills annually.
Cathedral Square Senior Living in Burlington, Vt. is among the communities slated for renovation. It was awarded $754,859 to complete renovations using Recovery Act funds, according to HUD regional administrator Richard Walega. The renovations will upgrade 107 affordable apartments, creating jobs in the process."
True there are funds available, let's hope that they are released without being unnecessarily held up.
- Lori Burger | Flag this comment for review