Low-Cost Financing Enables Affordable Housing Retrofits
"New York City’s Green Housing Preservation Program (GHPP) aims to reduce housing costs and greenhouse gas emissions in the city’s affordable housing sector by easing barriers to undertake energy efficiency and water conservation improvements. Under the program, property owners, who often perceive housing improvements as out of reach, gain access to energy audit information and low- or no-cost financing for key retrofit measures. With improvements such as the installation of efficiency controls, it is anticipated that owners may see more than a 10% annual reduction in utility costs, which account for roughly 25% of the average operating budget of a rent stabilized building.
GHPP has the potential to impact a large number of owners and tenants in the city, as almost two-thirds of New York’s rental apartment buildings are eligible for the program."
Quote from: http://solutions.sustainia.me/solutions/low-cost-financing-enables-affordable-housing-retrofits/