The Green Housing Preservation Program (GHPP) provides low- or no-interest loans to finance energy efficiency and water conservation improvements, lead remediation, and moderate rehabilitation work. The program is designed to assist small- and mid-size building owners improve building conditions and lower operating expenses to ensure the long-term physical and financial health of their buildings and to preserve safe, affordable housing for low- and moderate-income New Yorkers.
Buildings with at least 5 units and less than 50,000 square feet that require energy efficiency and water conservation improvements. Project scopes of work must reduce a building's energy usage by at least 20%.
HPD can lend up to $50,000 per residential unit. A third party firm will conduct a roof-to-cellar assessment of the physical conditions and energy efficiency needs of your building ("Ingegrated Physical Needs Assessment"). The amount of the loan will be based on the efficiency and repair work identified through the assessment. If you need additional funds to complete the project, we will work with you to find private sources of funding at favorable terms. HPD will also provide support in overseeing the construction process.
In exchange for our assistance, participants enter into an affordability agreement with HPD.
For more information on the loan terms, see the GHPP term sheet.