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NYSERDA Multifamily Finance Program Now Available
The New York State Energy Research and Development Authority (NYSERDA) Multifamily Performance Program (MPP) relaunched October 2010. The program provides energy efficiency incentives in existing buildings with five or more units. The incentive schedule is shown below.
| MPP Existing Building Incentive Schedule | ||
| Affordable Housing | Marketing-Rate Housing | |
| Payment #1 (for Energy Reduction Plan) | ||
| Base Incentive(projects up to 30 units) | $5,000 / project | $2,500 / project |
| Base Incentive(projects from 31-500 units) | $10,000 / project | $5,000 / project |
| Incremental Incentive | $20 / unit (over 100 units) | $10 / unit (over 100 units) |
| Incentive payable upon of the Energy Reduction Plan and associated documents, which must include documentation that the building has been benchmarked using the NYSERDA Benchmarking Tool. | ||
| Payment #2 (50% measures installed) | Up to $300 / unit | |
| Payment #3 (2nd 50% measures completed & program inspection) | Up to $300 / unit | |
The MPP for existing buildings relies on approved building performance partners to conduct the energy assessments and assist building managers through the process. Participating buildings must achieve a reduction in energy use of 15%.
Other Funding Sources to Retrofit Multifamily Housing
At a glance: Incentive programs for multifamily affordable housing and multifamily market rate housing
Learn more about specific programs, and their incentives and requirements:
- NYSERDA Multifamily Performance Program
- NYSERDA Multifamily Carbon Emissions Reduction Program
- NYSERDA Electric Reduction in Master Metered Buildings Program
- NYS Weatherization Assistance Program
- Con Edison
- Enterprise Green Communities
- Federal Tax Incentives
- NYSERDA Solar Incentives
It is possible to mix and match these programs as long as no one measure is covered by more than one program. Pratt Center, through our Energy $mart Communities contract from NYSERDA, is eager to help new York City's housing managers take advantage of the financial tools to make NYC affordable housing more financially and environmentally sustainable. Please don't hesitate to contact us.
