The US Department of Housing and Urban Development has begun offering $4.8B in direct loans and grants in a new program that will fund energy-efficient and "resilient" renovations for HUD-assisted multifamily properties.
The new program, known as the Green and Resilient Retrofit Program (GRRP), was established under the Inflation Reduction Act, which was signed into law by President Biden in August of last year.
Properties eligible GRRP loans and grant include those participating in the Section 8 Project-based Rental Assistance, Section 202 Supportive Housing for Low-Income Elderly and Section 811 Supportive Housing for Low-Income Persons with Disabilities programs.
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