New York State announced the Climate Friendly Homes Fund (CFHF), which will provide $250 million in funding for electrification retrofits of affordable multifamily housing developments in the state. The program will be administered by New York State Homes and Community Renewal and The Community Preservation Corporation.
Funding will be made available to owners of multifamily rental properties with five to 50 units that either:
- Have existing regulatory agreements with housing and community renewal agencies of New York or
- Are in Low-Moderate Income (LMI) census block groups.
Eligible costs include the electrification of heating, cooling and water heating systems and additional building envelope improvements, as well as certain soft costs. The program is expected to fund retrofits in at least 10,000 units of housing across the state.
The state is expected to begin accepting applications in the first quarter of 2023, at which time interested building owners will be able to submit eligibility documentation.
