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 cause more than 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. As part of the plan, $250 million was allocated over 5 years to electrify 10,000 homes.
The new Climate Friendly Homes Fund ("CFHF") will provide small multifamily properties, between 5-50 units, access to funds to support electrification measures.
Notice of Funding Availability Opportunity
HTFC invites eligible applicants with experience in the underwriting, origination, and servicing of construction and permanent loans, as well as experience with energy efficiency retrofits to apply to administer the Climate Friendly Homes Fund (“CFHF”). This NOFA describes the purpose for which the available funds are to be used and the methodology for disbursing those funds.
Through this NOFA, HTFC plans to make funds available to one to three (1 to 3) eligible applicants for the administration of CFHF. HTFC strongly encourages partnerships among applicants that designate a lead applicant. HTFC’s preference is to make an award to a single lead applicant. Eligible applicants are invited to submit applications for funding for the anticipated costs of administering CFHF.
Applications must be submitted via email to [email protected] no later than 11:59 PM (EST) on Friday, June 30, 2022. The initial contract shall be for five (5) years, with the potential for an extension depending on the availability of funds and at the discretion of HTFC staff.
Download Climate Friendly Homes Fund NOFA Document
HCR will host a webinar on June 6th from 3:00 - 5:00 p.m. to explain the NOFA and submission process. Join the webinar by clicking on this link.