18 Dec Transform Your Rental Property with the Climate Friendly Homes Fund – Applications Open Now!
Attention landlords and property owners in New York State! The Climate Friendly Homes Fund (CFHF) program, administered by The Community Preservation Corporation (CPC), is now accepting applications. This is a fantastic opportunity for qualified owners and operators of small multifamily rental buildings to make energy-efficient upgrades.
The CFHF aims to retrofit at least 10,000 units in multifamily housing, focusing on economically disadvantaged communities. With $250 million in funding, the program supports replacing outdated systems with all-electric, high-performance alternatives. This initiative is not just an upgrade for your property; it’s a step towards a more sustainable future.
Exciting Financial Incentive:
Property owners will receive funds in the form of a forgivable loan, fully forgiven after the loan term with no payments of principal or interest required. This is a significant financial incentive to enhance your property’s sustainability!
Eligibility Criteria:
Properties must be regulated by a public agency or, if unregulated, located in a qualified zone as defined by HUD or the New York State’s Climate Leadership and Community Protection Act.
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Owners can be 501C3 organizations, subsidiaries, or private developers.
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Buildings should contain 5-50 units and have specific current utility profiles.
Funding Usage:
Eligible uses include program delivery, energy audits, heating system replacements, and more. However, certain uses like solar renewables and appliance electrification are not covered.
Application Process:
The Essex County Land Bank and PRIDE are collaborating with CPC for program outreach and prescreening. For more details or assistance, reach out to info@prideofticonderoga.org or climatefund@communityp.com
Don’t miss this chance to enhance your property’s energy efficiency and contribute to environmental sustainability. Apply now here: https://www.climatefriendlynys.com/