Trump administration halting $1B affordable housing preservation program: Report
The Department of Housing and Urban Development (HUD) has terminated its $1 billion Green and Resilient Retrofit Program, which funds renovation projects at affordable housing units across the country.
The program has awarded the money to support upgrades at 25,000 sites, and its end could result in less livable apartments for tens of thousands of poor Americans, The Associated Press reported.
Congress approved the Green and Resilient Retrofit Program in 2022 as part of the Inflation Reduction Act, which included major investments in climate resilience. The apartment-building program focuses on energy-efficient improvements.
Thus far, loans and grants have been used to help with floodproofing, insulation and the replacement or repair of heating and cooling systems. Projects that use the funds are required to keep their buildings affordable for up to 25 years, as reported by AP.
As of Wednesday, links about the program are no longer functioning on the HUD website.
The department did not immediately respond to The Hill’s request for comment.
Recipients and employees of the HUD program are questioning the overhaul and demanding specifics on how it will be wound down.
“We are depending on that $10 million,” Greg Franks, president of the Smith Tower Apartments management company, told AP.
His 170-unit building in Washington state was approved to receive funds from the program as part of a $100 million renovation effort to "sustain the livability of this building based on its age, and to keep it viable for another 60 years.”
Managers at approved sites are awaiting communication from the HUD to determine if their projects can move forward with funding intact.
“If these funds aren’t reinstated, we will certainly seek other funding to fill that gap. The reality is that will take time and will inevitably make the project more expensive,” Travis Phillips of the Housing Development Center told AP, regarding funding for Smith Tower Apartments.
The Associated Press contributed reporting
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