HPD has partnered with NYSERDA to pilot a streamlined approach for incorporating clean energy incentives and technical assistance to support the development of high performance, all-electric new projects that meet HPD’s “Reach” goals. Funding will total $15 Million and will be allocated in two rounds.
Funding: The Future Housing Initiative will provide owners and developers up to $10,000 per dwelling unit and up to $1.5 million per project to fund the construction of high-performance all-electric* multifamily buildings that will achieve Passive House Certification.
Eligibility: The Future Housing Initiative will be open to projects in HPD’s New Construction Pipeline that are projected to close within 1-2 years of application to the program. Projects will be competitively selected through an application process and must demonstrate a financing gap to achieve the program’s performance goals. Projects may either be currently designed to meet this standard or in need of an “enhanced design”.
*Excludes emergency backup generators. Certain commercial equipment that cannot be electric may also be excluded.
A total of $7.5 million will be available for Round One (Summer 2023) of this two-phase Initiative. Projects will be reviewed and scored by NYSERDA and HPD and will be selected based on the eligibility criteria outlined in the Future Housing Initiative Program Description document. Incentive levels will be based on the project’s demonstrated need but cannot exceed the per/ dwelling unit and per/ project amounts outlined below. Once selected, the project team will work with a NYSERDA funded Technical Assistance Provider to optimize the design and construction process.
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