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Gray - Cnu Denver And Hud
 

Gray - Cnu Denver And Hud

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    Gray - Cnu Denver And Hud Gray - Cnu Denver And Hud Presentation Transcript

    • Going Green: Economic Recovery and Beyond Department of Housing and Urban Development Regina Gray June 13 2009
    • HUD’s Role in the Recovery Act HUD’s $13.61B in funding under the Recovery Act supports 3 main themes across 9 departmental programs. 1. Promoting Energy Efficiency & Creating Green Jobs 2. Unlocking the Credit Markets & Supporting “Shovel-Ready” Projects 3. Mitigating the Effects of Foreclosures & Preventing Community Decline Funding : $4.00B: Public Housing Capital Fund $0.51B: Native American Housing Block Grants $0.25B: Assisted Housing Energy & Green Retrofit Program $0.10B: Lead Hazard Reduction/ Healthy Homes $4.86B Total Funding : $2.25B: Tax Credit Assistance Program $2.00B: Project Based Rental Assistance $4.25B Total Funding : $2.00B: Neighborhood Stabilization Program $1.50B: Homelessness Prevention Fund $1.00B: Community Development Block Grants $4.50B Total
      • Benefits/Outcomes :
      • Reduce greenhouse gas emissions
      • Decrease consumer energy costs
      • Increase quality & longevity of public and Native American housing stock
      • Benefits/Outcomes :
      • Produce tens of thousands of affordable housing units
      • Unlock private lending
      • Benefits/Outcomes :
      • Stabilize property values
      • Prevent homelessness
      • Prevent neighborhood blight
      • Support tens of thousands of jobs by 2010
    • Recovery Act Impact
      • HUD estimates show that the major energy efficiency Recovery Act programs will:
        • Save $30 million in annual energy
        • Save 1.57 trillion BTUs in annual energy consumption
        • Reduce annual greenhouse gas emissions by 92,000 metric tons
        • Create 35,000 green jobs
      • Use Recovery Funds to catalyze market transformation.
      • Streamline and simplify programs and support processes
      • Promote innovative cross-agency and cross-discipline collaborations
      • Reinvigorate the “HUD network”
      • Build a culture of transparency and accountability
      Given the Recovery Act’s unprecedented cross-cutting scope and aggressive timeframe, the Secretary is viewing the Recovery Act as an opportunity to lay the groundwork for future transformation at HUD. Implementation Approach
    • Implementation Approach HUD’s delivery approach combines short-term spending on “shovel-ready” projects via formula grants with longer-term focus on program targeting through competition. Program Funding Amounts Short-Term Focus: Quick Spending & Job Stimulus Long-Term Focus: Program Restructuring & Targeting Timing of Funding All allocations announced on 2/25/09 $5.255B in obligations by Apr $3.35B in addt’l obligations by Jun $1.50M in addt’l obligations by Aug $1.25B in obligations by 9/30/09 $2.25B in addt’l obligations by 2/17/10 Public Housing Capital Fund: $4.00B $3.00B $1.00B Native American Housing Block Grants: $0.51B $0.255B $0.255B Assisted Housing Green Retrofits: $0.25B $0.25B Lead Hazard Reduction: $0.10B $0.10B Tax Credit Assistance Program: $2.25B $2.25B Project-Based Rental Assistance: $2.00B $2.00B Homelessness Prevention Fund: $1.50B $1.50B Neighborhood Stabilization Program: $2.00B $2.00B Community Development Block Grants: $1.00B $1.00B Total Funding: $13.610B $10.105B (74%) $3.505B (26%)
      • Provide guidance to public and assisted housing
        • Create a common set of guidelines and specifications for retrofitting public housing, as well as privately owned, federally-subsidized rental properties
      • Coordinate expenditure of economic recovery funds
        • Integrate use of weatherization assistance, energy efficiency and conservation block grant and other recovery funds in local communities (e.g., CDBG and EECBG funds)
      HUD and DOE announced a partnership on February 27 th aimed at streamlining and coordinating weatherization efforts. Collaboration with Other Agencies
    • Collaboration with Other Agencies
      • HUD-DOE Partnership Continued…
      • Develop a common baseline for measuring home energy use and the gains from efficiency improvements
      • The goal of this effort is to provide the information base and metrics necessary to help support a national energy efficiency market for the housing sector
      • Explore home energy disclosure and audit standards as well as new financing tools that will enable national scale investment in residential energy efficiency
      • Utilize revolving funds, expanded energy mortgage financing tools through FHA and the use of DOE loan guarantee authority in the residential sector
    • HUD & DOE announced an MOU on May 6 intended to streamline and better coordinate federal weatherization programs
      • The HUD-DOE Weatherization partnership will work to eliminate duplicative income verification requirements.
      • The partnership will also strive to: (1) strengthen research and technology efforts; (2) make greater use of revolving funds; and, (3) expand energy mortgage financing tools through FHA and the use of DOE loan guarantee authority in the residential sector.
      Collaboration with Other Agencies
      • Regional Planning Grants
        • Create a common set of guidelines and specifications for retrofitting public housing, as well as privately owned, federally-subsidized rental properties
      • Coordinate expenditure of economic recovery funds
        • Integrate use of weatherization assistance, energy efficiency and conservation block grant and other recovery funds in local communities (e.g., CDBG and EECBG funds)
      HUD and DOT partnership on March 18 aimed at new generation of coordinated housing and transportation, regional planning Collaboration with Other Agencies
    • Collaboration with Other Agencies
      • HUD-DOT Partnership continued…
      • 3. Redefining Affordability
        • Develop a common baseline for measuring home energy use and the gains from efficiency improvements
        • The goal of this effort is to provide the information base and metrics necessary to help support a national energy efficiency market for the housing sector
    • FY 2010 Green Initiatives
      • There are a number of new initiatives in the 2010 HUD budget.
        • Energy Innovation Fund
        • Sustainable Communities Initiative
        • Office of Sustainable Housing and Communities
    • Transformation Initiative
      • Building on a recent National Academy of Sciences report, the budget calls for an agency wide Transformation Initiative.
      • This Initiative would set-aside up to 1 percent of agency funding annually ($433 million in 2010) for:
        • research and evaluation,
        • major demonstrations,
        • enhanced technical assistance and capacity building, and
        • next generation technology investments.
    • Energy Innovation Fund
      • HUD has requested $100 million to catalyze a residential retrofit and new construction market. The fund consists of three central components:
        • Re-engineer the FHA Energy Efficient Mortgage (EEM)
        • Overcome disincentives to energy investment in HUD assisted housing
        • Support local energy funds
    • Energy Innovation Fund: Re-engineer the EEM
      • $25 million to re-engineer the FHA Energy Efficient Mortgage (EEM) as an effective financing vehicle for investing in energy efficiency as part of the home buying or mortgage refinancing transaction.
      • Help streamline the energy audit and retrofit process and create new Title 1 and second mortgage products.
    • Energy Innovation Fund: Energy Efficiency in Multifamily
      • The Fund will be used to test the impact of reducing or offsetting the cost of mortgage insurance premiums as an incentive for property owners to invest in energy and other key strategies.
    • Energy Innovation Fund: Support Local Energy Investments
      • A grants program intended to support promising local energy funds that leverage public and private funds from utilities, local banks, state and local governments
      • Test innovative on-bill utility financing or bill arrangements
      • Provide streamlined energy audit and technical services to participating home and property owners
    • Sustainable Communities Initiative
      • The Initiative will integrate transportation and housing planning and decisions in a way that maximizes choices for residents and businesses, lowers transportation costs, and drives more sustainable development patterns. The initiative consists of three central components:
        • A regional planning effort jointly administered by HUD/DOT
        • Community challenge grants
        • Research and evaluation effort also jointly administered by HUD/DOT
    • Housing and Transportation
      • Congress directed HUD to conduct this study in collaboration with the Federal Transit Administration (FTA) on expanding affordable housing opportunities near transit.
      • The average American household spends nearly 60 percent of their income on combined housing and transportation costs.
    • Sustainable Communities Initiatives: Regional Planning Effort
      • A $100 million effort to enable metropolitan areas to set a vision for growth and then apply federal transportation, housing, and other investments in an integrated way in support of the broader vision.
        • Metropolitan planning organizations and consortia of local recipients of HUD block grant assistance would submit joint applications
        • Funds would be used to support the development of integrated, state of the art regional development plans that use the latest data and most sophisticated analytic, modeling, and mapping tools available
    • Sustainable Communities Initiatives: Community Challenge Grants
      • $40 million in community challenge grants would be used to entice metropolitan and local leaders to make market-shifting changes in local zoning and land use rules
        • Help states and localities design and implement a variety of reforms
    • Sustainable Communities Initiatives: Research and Evaluation
      • The Initiative would dedicate $10 million for a research and evaluation effort jointly administered by HUD and DOT. The effort would aggressively engage on:
        • Joint data development
        • Information platforms
        • Analytic tools and research
      • The goal of the research would be to gauge the effectiveness of federal investments as well as inform private investments and consumer decisions.
    • Webcast Structure
      • Part 1
        • Green technologies and energy efficiency
        • Cost & benefits of going green
      • Part 2
        • Green financing
        • Role of cities and municipalities in going green