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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 68 April 2024 J O U R N A L these grants will expand access to home- ownership, affirm the impact of pre- and post-purchase housing counseling, and expand the availability of HUD-approved counseling for consumers nationwide," Deputy Assistant Secretary for Housing Counseling David Berenbaum said. HUD EXTENDS COMMITMENT TO SAFER HOUSING T he U.S. Department of Housing and Urban Development (HUD) has awarded $73.5 million in new loans and grants under the Green and Resilient Retrofit Program (GRRP) to support extensive energy efficiency and climate resilience renovations for low-in- come Americans as part of President Biden's Investing in America agenda. The $73.5 million investment from President Biden's Inflation Reduction Act will make homes safer, more efficient, and resilient to the climate crisis at 10 HUD-as- sisted multifamily properties that provide affordable housing for approximately 1,400 low-income families, including 44 homes for low-income seniors. As of today, HUD has made more than $368 million in GRRP awards to support renovations at 84 multifami- ly properties that will improve more than 9,000 homes for very low-income households, seniors, and people with disabilities. "The Green and Resilient Retrofit Program ensures low-income individ- uals and families are not left out of the climate change conversation," former HUD Secretary Marcia L. Fudge said. "HUD wants these families to have better access to clean energy upgrades like solar panels and modern and efficient heating and cooling systems so that they too can have resilient homes. This additional round of funding builds on President Biden's Investing in America agenda, as we continue to boost energy efficiency and combat climate change in communi- ties throughout the country." President Biden's Inflation Reduction Act established the GRRP by providing more than $800 million in grant and loan subsidy funding and $4 billion in loan commitment authority for efficiency and resiliency improvements. All the in- vestments under the GRRP will advance President Biden's environmental justice agenda, in alignment with the adminis- tration's Justice40 Initiative which aims to deliver 40% of the overall benefits of certain federal investments to disadvan- taged communities that are marginalized by underinvestment and overburdened by pollution. Retrofitting these homes will reduce their carbon emissions, make them more resilient to extreme weath- er events, and enhance their ability to respond to and recover from such events more quickly. GRRP is the first HUD program to simultaneously invest in energy efficien- cy, renewable energy generation, climate resilience, and low-embodied carbon materials in HUD-assisted multifamily housing. Investments under the program will be made in affordable housing com- munities serving low-income families in accordance with President Biden's agen- da for building the American economy from the middle out and the bottom up. The GRRP Notices of Funding Op- portunity (NOFOs) and accompanying guidance detail the multiple funding opportunities to which property owners may apply: » GRRP Elements provides funding to owners for proven and meaningful climate resilience and utility efficiency "The Green and Resilient Retrofit Program ensures low-income individuals and families are not left out of the climate change conversation." —Marcia L. Fudge, Former Secretary, HUD