Columbus Property Management

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CPM Applies for HUD Energy Innovation Funds

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CPM Applies for HUD Energy Innovation Funds
Tuesday, November 01, 2011

In early fall the U.S. Department of Housing and Urban Development announced the availability of $25 million in funding through the Energy Innovation Fund, Multifamily Energy Pilot Program. The primary purpose of the program is to “stimulate innovative approaches for increasing the energy efficiency of existing multifamily residential properties that can be replicated by others.”

HUD will make awards in two categories: financing demonstrations and applied research demonstrations. CPM applied under the research category, requesting the maximum award amount of $3 million. In its application CPM proposed to retrofit a portion of its stock of scattered site low-income, multifamily housing units (100 units in total), completing a variety of upgrades designed to promote energy efficiency. Half of the retrofitted units would be outfitted with energy display devices designed to visually display electricity consumption to housing tenants. The retrofit would set the stage for a research demonstration designed to test:

The effect of energy efficient upgrades on energy consumption in a multifamily property serving low-income tenants.
Whether the presence and understanding of an in-unit energy display device will enhance tenant awareness and understanding of energy use and ultimately encourage behavioral changes that will reduce energy consumption in low-income, multifamily housing.

This application takes place in the context of CPM’s efforts to recapitalize its scattered site housing inventory in Philadelphia. Low Income Housing Tax Credit, tax-exempt debt and Federal Home Loan Bank funding will help ensure the affordability of more than 100 housing units for the next thirty years. Funds from this effort, combined with an award from HUD will provide the resources to perform a moderate rehabilitation across these sites, with a focus on energy efficiency.

In sum, the applied research demonstration will develop a model for:

Retrofitting a scattered site inventory of multifamily housing to increase energy efficiency and ensure unit upkeep, code compliance, unit marketability and tenant quality of life.
Financing the retrofit of a scattered site inventory and ensuring the preservation and long-term affordability of a low-income housing stock.
Using education and training to increase awareness of energy usage and its impact on the environment and individual and family finances, among tenants of multifamily affordable housing developments.
Reducing energy consumption in low-income, multifamily housing.

CPM is excited about this funding opportunity and hopes to learn about its application status by mid-January. Stay tuned!

Labels: HUD Energy Innovation Fund, preservation, rehabilitation

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2042-48 Arch Street, 2nd Floor Philadelphia, PA 19103 Ph: 215.557.8484 TTY: 215-496-0321 Email: ContactUs@columbuspm.org