Climate Friendly Homes Fund (CFHF)

Funder: The Community Preservation Corporation (CPC) in partnership with New York State Homes and Community Renewal (HCR)

Geographic Scope: New York State

Focus Areas:

• Electrification retrofits of multifamily buildings
• Transition to high-performance, all-electric heating, cooling, and water heating systems
• Energy efficiency improvements in economically disadvantaged communities
• Greenhouse gas emissions reduction

Target Impact: Finance electrification retrofits in at least 10,000 units of multifamily housing

Eligibility

• Buildings must have 5-150 residential units located in New York State
• Owners of both regulated affordable and unregulated multifamily rental buildings may apply
• Buildings must meet location requirements:
  • Subject to regulatory agreement with public agency, OR
  • Located in Low-Moderate Income Qualified Census Tract (HUD), OR
  • Located in Disadvantaged Communities (NY State Climate Leadership and Community Protection Act)

Eligible Uses

• Electrical service upgrades
• HVAC systems replacement with high-efficiency heat pumps
• Domestic Hot Water replacement with high-efficiency heat pumps
• Additional energy conservation measures to optimize new system performance
• Systems commissioning
• Certain soft costs

Partners

Lending Partners: Enterprise Community Partners, Inclusive Prosperity Capital

Community Partners: Better Community Neighborhoods Inc. (Albany), CDC of Long Island, Home Headquarters (Syracuse), Hudson River Housing (Hudson Valley), Kinetic Communities/KC3 (NYC), Housing Sustainability Advisors, NYCHP (NYC), PUSH Buffalo (Buffalo), RUPCO (Hudson Valley)

Background

Program announced by New York State and CPC in September 2022. CPC was selected through a Notice of Funding Availability to administer CFHF. Program aims to empower small building owners in the transition to a green economy and deliver climate-friendly homes to residents of low- and moderate-income neighborhoods.

Contact:
Corporate Headquarters: 220 East 42nd Street, 16th Floor, New York, NY 10017

Application Process

The application portal for the Climate Friendly Homes Fund is currently closed to new applications.

Required Documentation

Applicants will need to provide:

• Income and Expense Template
• Rent Roll Template
• Letter of Authorization
• CFHF Waiver Conditions documentation

Program Resources Available

• CFHF Program Guide
• CFHF Terms Overview
• Info Session for Potential Applicants (webinar slides and recording available)
• FAQ resources
• Technical Assistance Providers list

For Current Opportunities

For information on current CPC financial offerings and products to support electrification projects, visit: https://communityp.com/products-services/

For HCR sustainability platform and initiatives, visit: https://hcr.ny.gov/sustainability