Applications for New York’s new $250 million Climate Friendly Homes Fund (CFHF) are now open. The program is administered by the Community Preservation Corporation and will make awards to owners of multifamily rental properties to increase energy efficiency and decrease a building’s greenhouse gas emissions. The program is expected to assist 10,000 units of multifamily housing in economically disadvantaged communities by 2027.
As part of the State’s strategy to curb building emissions and establish two million climate-friendly, electrified or electrification-ready homes by 2030, the Climate Friendly Homes Fund will provide financial assistance to small building owners to offset the costs of an energy audit and physical needs assessment to identify opportunities for reducing carbon emissions. Eligible improvements include electrifying the building’s heating and cooling, and domestic hot water systems, as well as basic upgrades to improve the efficiency of the building envelope and ventilation systems.
To qualify, buildings must have between five and 50 units and must also meet at least one of the following criteria:
•The building must be subject to an existing regulatory agreement, or under the supervision of New York State Homes and Community Renewal.
•The building must be in a low- to moderate-income census block as defined by the U.S. Department of Housing and Urban Development’s Community Development Block Grant program or located in a Disadvantaged Community as defined in the New York State Climate Leadership and Community Protection Act.
Applications for the Climate Friendly Homes Fund, as well as eligibility criteria and more information on the program is available on the Climate Friendly Homes Fund Program landing page, https://communityp.com/climate-friendly-homes-fund/. Program information is also available on HCR’s website, https://hcr.ny.gov/climate-friendly-homes-fund.
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