Grants and loans will be made available through HUDs Office of Affordable Housing Preservation (OAHP) for eligible property owners to make energy and green retrofit investments in the property, to ensure the maintenance and preservation of the property, the continued operation and maintenance of
energy efficiency technologies, and the timely expenditure of funds.
Physical and financial analyses of the properties will be conducted to determine the size of each grant and loan.
Incentives will be made available to participating owners.
The terms of the grants or loans will include continued affordability agreements.
Grant and loan funds must be spent by the receiving property owner within two years.
Full detail of how to apply, and grant and loan terms, will be published in a Housing Notice within 60 days of the Recovery Act being signed into law (by April 17, 2009).