HUD Housing Set to Go Green as Biden Administration Provides $830 Million in Funding
This Wednesday, the Biden Administration took a significant step towards addressing climate change and improving living conditions for marginalized populations. They announced the release of $830 million in funds dedicated to the Green and Resilient Retrofit Program, commonly known as the GRRP.
The primary focus of the GRRP is to revamp rental properties, particularly those under the aegis of the Department of Housing and Urban Development (HUD). This program is pivotal because many of the beneficiaries of these properties are among society’s most vulnerable: low-income families, senior citizens, and individuals living with disabilities.
This injection of funds isn’t just a philanthropic initiative. The $830 million earmarked for the GRRP will be strategically utilized to enhance these properties in several impactful ways. One of the most significant uses of these funds will be retrofitting the buildings. This process involves upgrading these structures, making them more energy-efficient and bolstering their resilience against the ill-effects of climate change and natural disasters.
Moreover, part of the funds will cover the installation of solar energy systems. By shifting to renewable energy sources, the program aims to minimize the carbon footprint of these properties while providing an affordable energy solution.
The funding for the GRRP comes from an innovative source – the Inflation Reduction Act. This legislative initiative was designed with the goal of mitigating economic inflation while diverting resources towards socially responsible programs like the GRRP.
News 5’s Courtney Gousman had the opportunity to speak with Julia Gordon, the Assistant Secretary for the HUD. Gordon shared her views about the significant impact these changes would have on HUD properties and the broader community. She emphasized that the retrofitting and greening initiatives would ultimately result in financial savings for taxpayers.
She added, “All of these different actions are not only helping to improve the lives of the residents, of course, and to protect them from climate change, but they’re really an investment both in the community and our national efforts to green our nation’s housing.”
The GRRP also extends an opportunity to HUD property owners and landlords. They are invited to apply for grants and loans to facilitate this transformation, making it a holistic effort that includes all stakeholders in the HUD community. Click here for more information.