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Funds Created for Green Affordable Housing.(Managing REO)
Byline: Amilda Dymi
New York-New leadership at the Department of Housing and Urban Development is energizing support for green affordable housing through pilot programs backed by federal assistance.
One beneficiary, New York City's Department of Housing Preservation and Development, has partnered with not-for-profit partners to develop a new "green" pilot program that aims to rehabilitate a number of small bank-owned properties using green, energy-efficient standards and practices.
"The green retrofit program announced today will provide affordable energy efficient homes while also strengthening neighborhoods hit by foreclosures," HUD secretary Shaun Donovan said while addressing "Green and Affordable: Sustainable Strategies for the New Housing Marketplace," a conference on expanding the nation's stock of green affordable housing.
"HUD is competitively awarding another $2 billion in neighborhood stabilization funds through the Recovery Act and we hope that sustainable homes will be a feature of that investment in many neighborhoods across the country."
So far, pursuing Mayor Michael Bloomberg's $7.5 billion New Housing Marketplace Plan that will create and preserve affordable housing for half a million New Yorkers, HPD has developed green and affordable homes for low- and moderate-income families.
Conference participation by over 200 public and private housing professionals, housing development, finance, nonprofits and academia indicate growing interest in implementing "green" solutions in the marketplace. Popular issues included innovative strategies for financing projects, techniques to promote healthy indoor environments, green maintenance practices and the role of city government in building green affordable housing and environmentally responsible commercial real estate.
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Source: HighBeam Research, Funds Created for Green Affordable Housing.(Managing REO)