Dynamic web-based resource navigator tool, which will assist program participants identity potential funding opportunities
Today, the U.S. Department of Housing and Urban Development (HUD) announced its first-ever Funding Navigator, an interactive tool that allows the user to browse and sort funding opportunities for billions of dollars in funding available under the Inflation Reduction Act (IRA), Bipartisan Infrastructure Law (BIL). As a part of President Biden’s Investing in America agenda potentially eligible entities will be able to sort funding resources based on audience, activity, funding type, location, and other items. The Funding Navigator helps HUD program participants maximize the utilization of IRA and BIL resources for carbon reduction and climate resilience efforts.
“The Biden-Harris Administration has released more money to improve our nation’s climate resilience than any other in history. HUD encourages our grantees and other eligible groups to apply for this available funding to improve carbon reduction and climate resilience,” said Secretary Marcia L. Fudge. “The Funding Navigator will allow our partners to both identify and understand the opportunities available under the historic legislation President Biden has signed into law. HUD’s goal is and will continue to be making sure affordable housing is top of mind as critical investments are made in our nation’s infrastructure and climate related projects.”
Over the summer, details on several IRA climate programs were released that provide an incredible opportunity for HUD-assisted communities. The programs support renewable energy, resiliency, and energy efficiency standards and make investments in affordable housing a priority. Programs like EPA’s National Clean Investment Fund and Clean Communities Investment Accelerator ($20 billion) calls out decarbonization of multifamily affordable housing as an example under one of three priority project categories for investment. Treasury’s Low-Income Communities Bonus Credit program (48e) provides a 20-percentage point credit boost for projects that benefit HUD-assisted properties and DOE’s Home Energy Rebate Programs ($8.5 billion) require states allocate 40% of rebates to low-income households and 10% to low-income multifamily buildings at a minimum.
These and other programs provide transformative climate investments for low-income and disadvantaged communities, lower housing costs, and increase housing supply and affordability. HUD through its Funding Navigator and other tools is helping program participants understand and access these opportunities.
In May, HUD launched the Build for the Future site on the HUD Exchange, pulling existing technical assistance (TA) resources and products on topics related to funding opportunities under IRA or BIL and putting them all in one place. Build for the Future empowers local communities to undertake initiatives focused on climate resiliency, energy efficiency, renewable energy, and environmental justice, offering guidance materials, and fostering peer-to-peer knowledge sharing.