Home Repair and Preservation Financing

Green Housing Preservation Program

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Green Housing Preservation Program (GHPP)

owner on roof of their building with new solar panels


The Green Housing Preservation Program (GHPP) provides low- or no-interest loans to finance energy efficiency and water conservation improvements, lead remediation, and moderate rehabilitation work. The program is designed to assist small- and mid-size building owners improve building conditions and lower operating expenses to ensure the long-term physical and financial health of their buildings and to preserve safe, affordable housing for low- and moderate-income New Yorkers. This program is most suitable for multi-family buildings under 50,000 SF with high utility usage or costs needing energy efficiency improvements and that may also require some other rehabilitation.

Eligible Buildings

Buildings with at least 3 units and less than 50,000 square feet (approximately 50 units) that require energy efficiency and water conservation improvements. Project scopes of work must reduce a building's energy usage by at least 20%.

Program Overview

HPD can lend up to $50,000 per residential unit for all buildings requiring moderate rehabilitation work and up to $80,000 per residential unit for 3-15 units buildings requiring a more significant scope of work. If you need additional funds to complete the project, we will work with you to find private sources of funding at favorable terms. For more information on the loan terms, see the GHPP term sheets:

For owners that need assistance with paying for any pre-development costs associated with the loan closing (i.e. building assessment or IPNA, architect/engineer, environmental reports, legal fees, etc), HPD, in partnership with the New York City Energy Efficiency Corporation (NYCEEC), set up a pre-development loan fund that owners working with HPD can access. The loan application is quick to complete (3-page form) and funds will be deposited within 1-3 weeks of loan application submission. For more information and to apply, see the ‘Additional Resources’ section below.

In exchange for our assistance, participants enter into an affordability agreement with HPD.

Process

Thank you for your interest in the Green Housing Preservation Program (GHPP). We are sorry to inform you we currently have limited staff capacity and a significant backlog of projects. As a result, the assignment of a project manager can take up to one year. Please submit a complete Preliminary Application with detailed information about the project characteristics and needs. This application will allow us to understand the needs of your project, and we will contact you when we are able to assign a project manager. Thank you for your interest and we look forward to working with you.

  1. Application: Complete the application materials.
  2. Building Assessment: An HPD pre-qualified third-party firm will conduct a roof-to-cellar assessment of the physical conditions and energy efficiency needs of your building ("Integrated Physical Needs Assessment" or “IPNA”)). The amount of the loan will be based on the efficiency and renovation work identified through the assessment.
  3. Scope of Work Development: Depending on the needs of your building, either an HPD engineer or a third-party architect will complete a scope of work in accordance with HPD specification to be bid out to contractors your choosing.
  4. Bidding: The scope of work must be bid out to at least 3 contractors of your choosing (HPD cannot recommend any contractors). A bid walk-through, led by HPD or the third-party architect, will take place to ensure the contractors understand the scope of work. All bids must be returned to HPD.
  5. Selecting a Contractor: All bids will be reviewed by HPD for cost reasonableness. Once the review is complete, HPD will recommend the lowest, reasonable complete bid.
  6. Loan Closing: Once the bid proposal is approved by HPD and the HPD loan due diligence process is complete, the loan closing will take place.
  7. Construction: HPD will monitor the construction process to ensure adherence to the scope of work and HPD specifications.

Resources

For IPNA and Technical Assistance Providers

Additional Resources