NYS Announces $16.5 Million to Decarbonize Affordable Housing in NYC
(Aug. 20, 2024) On Aug. 19th, NYS announced the availability of $16.5 million to decarbonize and improve existing affordable housing in NYC through the Resilient and Equitable Decarbonization Initiative for Existing Buildings (REDi: EB) Program. The funding is an expansion of a collaborative partnership between NYS and NYC to provide affordable housing building owners and developers easier access to funding for electrification and energy efficiency retrofit upgrades in NYC Department of Housing Preservation and Development (HPD)-regulated buildings.
$15 million is now available through REDi: EB, which is administered by HPD in partnership with the NYS Energy Research and Development Authority (NYSERDA), on a first-come, first-served basis to cover the incremental costs to strategically electrify space heating and domestic hot water production and improve the building envelope via enhanced insulation, windows, and ventilation systems. HPD, NYSERDA, and technical consultants will work with project teams to determine a scope that works best for each project. The maximum award is $1 million per building or up to $2 million for multi-building projects. Incentive funds will be paid to the project by HPD during the construction phase.
An additional $1.5 million is also available to fund technical assistance throughout the design, construction, and post-construction phases for projects participating in REDi: EB.
Applications will be accepted until Dec. 31, 2025, or until funds have been exhausted.
Contact: Annalyse Komoroske Denio, akomoroskedenio@leadingageny.org, 518-867-8866