Overview
In 2022, Governor Hochul announced a new $25 billion, five-year Housing Plan to create and preserve 100,000 affordable homes in both urban and rural communities, including 10,000 homes with support services for vulnerable populations, and electrify or weatherize an additional 50,000 homes as part of the State’s plan to electrify 1 million homes and make another 1 million electrification-ready. This represents an unprecedented commitment to curb building emissions, which contribute as much as one third of New York’s climate pollution. These efforts dovetail with New York State’s Climate Leadership and Community Protection Act (CLCPA), setting the goal to achieve zero greenhouse gas emissions by mid-century and reduce green-house gas emissions by at least 85% by 2050. As part of the plan, $250 million was allocated over 5 years to electrify 10,000 homes.
HCR is deploying a variety of programs to provide funding to multifamily homes. See below for more information on these funding opportunities.
Climate Friendly Homes Fund by CPC
The program is deployed by the awarded Community Development Financial Institution (CDFI), The Community Preservation Corporation (CPC).
CPC’s partners include CDFIs and other community-based nonprofits to identify and screen building retrofit opportunities across the State. Lending Partners include Local Initiatives Support Corporation (LISC), Enterprise Community Partners, and Inclusive Prosperity Capital. In addition, local community-based organizations from across the state provide outreach and originations support to the program.
CFHF provides an average of $25,000 per unit for Multifamily projects between 5 and 150 units to successfully electrify their heating systems, domestic hot water, and make limited upgrades to enable electrification, including upgrades to their existing building envelope. ventilation systems, and electrical systems. The funds are available to regulated affordable housing and unregulated affordable housing. Where buildings are not subject to an existing regulatory agreement with a public agency, properties must be located in one of the following locations:
- Low-Moderate Income Qualified Census Tract as defined by the U.S. Department of Housing and Urban Development
- Disadvantaged Communities as defined in the New York State Climate Leadership and Community Protection Act.
Interested owners and development teams should engage directly with CPC for program applications, additional program details, and updates.
Stand-Alone Clean Energy Initiative (SCEI) Program
HCR’s Standalone Clean Energy Initiative (SCEI) Program provides mid-cycle funding to regulated affordable housing pursuing decarbonization work aligned with New York State’s Climate Leadership and Community Protection Act of 2019. Eligible scopes of work include replacement of existing inefficient space heating and/or domestic hot water heating systems with all-electric, high efficiency heat pump systems.
Grant amounts for specific electrification eligible uses are detailed in the SCEI Term Sheet. Up to $25,000 per unit is available for required electrification of systems with up to an additional $7,000 per unit for electrification enabling upgrades. The term sheet also includes a solar photovoltaic (PV) adder that provides up to an additional $5,000 per unit for on-site solar PV systems.
Please see the term sheet below for details on project eligibility and program requirements.
SCEI awards are subject to availability of funding. HCR retains the right to revise this term sheet from time to time and to waive any requirement contained therein, subject to the applicable statutes and program regulations. HCR also retains the right to not award any or all its funds under this program and to not commit all awarded funds. All proposals must comply with all applicable federal, state, and local laws.
All-electric Multifamily Program (AMP)
HTFC has issued a Notice of Funding Availability (NOFA) to award up to $25 million to interested community action agencies or nonprofits, including HCR’s Weatherization Assistance Program subgrantee network, capable of supporting decarbonization work in alignment with New York State’s Climate Leadership and Community Protection Act of 2019. The All-electric Multifamily Program (AMP) will provide funding to electrify recently weatherized properties throughout the state through replacement of existing inefficient space heating and/or domestic hot water heating systems with all-electric, high-efficiency heat pumps. Additional funding is available for defined electrification enabling upgrades and the installation of on-site solar PV systems.
Interested properties/owners should check back in early 2026 for the list of awarded Subrecipients.
Training Videos
Webinar 1: CFHF Standalone Grant Programs- October 2025
Webinar 2: CFHF: All- electric Multifamily Program (AMP) Notice of Funding Availability (NOFA)- October 2025