Climate Friendly Homes Fund

Climate Friendly Homes Fund is sponsored by RUPCO. Provides financing for electrification retrofits in existing 5-50 unit buildings in New York State, focusing on energy efficiency improvements.

Climate Friendly Homes Fund - RUPCO Climate Friendly Homes Fund New York State’s Climate Friendly Homes Fund (CFHF) program is now accepting applications on a rolling basis from qualified owners and operators of small multifamily rental buildings.

The Climate Friendly Homes Fund , administered by The Community Preservation Corporation (CPC), provides financing for existing, 5-50-unit buildings in New York State with a focus on replacing older and less energy-efficient systems with all-electric, high-performance heating, cooling, and hot water heating systems.

With $250 million in New York State funding, CPC and New York State Homes and Community Renewal aim to finance electrification retrofits in at least 10,000 units of multifamily housing that serve economically disadvantaged communities. These funds will empower small building owners to identify and execute a scope of work to improve the energy efficiency of their buildings and decrease their greenhouse gas emissions.

Owner and Property Eligibility – In order to qualify, multifamily rental buildings must meet one of the following criteria. The property must be: 1. Regulated by HTFC/DHCR/HFA or another public agency 2.

For unregulated projects, they must be located in one of the following zones: a. Located in a Low-Moderate Income Qualified Census Tract as defined by the U.S. Department of Housing and Urban Development (HUD). b.

Located in a Disadvantaged Community as defined in the New York State’s Climate Leadership and Community Protection Act. A recorded fee simple deed Eligible owners include 501C3, charitable organizations, wholly owned subsidiary of corps or organizations or private for-profit developers.

Building must contain 5-50 units Current utility profiles must include fuel oil, natural gas, propane, or electric resistance systems Eligible uses of funding Include: Program delivery costs (engineering/consultant costs) Shared cost of energy audit and/or property condition assessment ahead of loan closing Heating system replacement with heat pump. HWH system replacement w/ HE heat pump HWH.

Service upgrades to support new HVAC and DHW systems. Energy conservation items (within budget).

Ineligible uses of funding include: Solar or other onsite renewables Health & safety or deferred maintenance Energy efficiency measures outside of scope CANNOT be combined with mortgage financing to funds additional updates Appliance electrification Ventilation systems upgrades RUPCO is partnering with CPC to conduct program outreach and to prescreen prospective projects.

Applications submitted through CPC’s application portal may be referred to RUPCO for further processing. If you would like to obtain additional information or have questions, please contact Emily Hamilton at ehamilton@rupco. org