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Unnamed: 0 | Unnamed: 1
 | [LOGO]
 | [DATE], 2009
 | [OWNER]
 | [ADDRESS]
 | [ADDRESS]
 | Dear Property Owner:
 | Welcome to the Green Retrofit Program for Multifamily Housing (GRP), which
 | was authorized by Congress to perform green rehabilitation of project-based
 | affordable housing units across the country. Because we anticipate that there will
 | be more demand for the program than there are slots for participation, we are now
 | accepting applications on a first-come, first-served basis.
 | You may be eligible to apply for a loan or grant through the new GRP at no cost to
 | you.
 | If you do qualify as an Eligible Owner, this important program—funded through
 | the Recovery Act—will allow you to reduce utility and operating costs, improve
 | residents’ indoor air quality, and use products and practices that are less harmful to
 | the environment.
 | Here is a brief overview of the program’s requirements.
 | Background
 | The GRP is administered by HUD’s Office of Affordable Housing Preservation
 | (OAHP). Program information is available on HUD’s website at:
 | http://www.hud.gov/recovery/aheretrofith.cfm.  Several hundred properties
 | nationwide will be selected to participate. They will be a mix of projects receiving
 | project-based assistance.
 | Benefits
 | With GRP funds, you can renovate your units, reduce your overall energy costs,
 | and increase the marketability and value of your units, all while receiving financial
 | incentives from the government. Greening your units will allow you to cultivate a
 | cutting-edge and responsive image in the community, enhance the satisfaction of
 | your tenants, and keep you ahead of trends in local building codes.
 | Program Specifics
 | ·        Under the GRP, you can apply for a grant or a loan of up to $15,000 per
 | unit to finance green investments that will reduce ongoing utility
 | consumption, benefit resident health, and benefit the environment.
 | ·        GRP does not require you to contribute toward the cost of green investments,
 | subject to some exceptions for partially assisted projects, projects with
 | large account balances, and projects requiring investments for which green
 | products are not available.
 | ·        At closing, you’ll receive an incentive equal to 1% of the estimated cost of
 | the green retrofits or $10,000, whichever is less.
 | ·        In addition, upon satisfactory completion of the green retrofits, you’ll receive
 | money (the Green Retrofit Efficiency Incentive) that will total either 3% of
 | the cost of the retrofit or $30,000, whichever is less.
 | ·        You’ll also receive a financial incentive—3% of collected revenue each year,
 | payable from surplus cash—for meeting annual benchmarks related to
 | operating your property with green principles. This is known as the Green
 | Retrofit Incentive Performance Fee and, provided there is sufficient surplus
 | cash, all owners are eligible to receive it if they live up to their commitments.
 | ·        You can also earn additional financial incentives if you hire eligible
 | low-income residents or businesses to provide labor or materials for the
 | greening effort—up to 10% of the amount paid to them or $25,000,
 | whichever is less.
 | ·        All of the GRP’s financial incentives are available to all owners, including
 | not-for-profits.
 | Requirements and Commitments
 | ·        By law, you must agree to extend the affordability requirements of your
 | property by 15 years beyond the existing expiration date.
 | ·        You must agree to the use of greened replacements and greened
 | property management.
 | ·        You must agree to introduce and implement an Integrated Pest Management
 | (IPM) program.
 | ·        All participating property managers must be trained in Green Building
 | Principles.
 | ·        There will be limits to the extent to which any single owner may participate
 | in the GRP.
 | To Apply
 | The GRP application process requires the compilation and completion of many
 | items of required information as well as the completion and submission of a
 | significant number of owner certifications and owner commitments.  Please read
 | the Notice carefully to obtain a full understanding of the application requirements.
 | ·        Submit an electronic file of the financial information contained in the Initial
 | Feasibility Assessment spreadsheet (attached).
 | ·        Submit additional documents by mail or overnight delivery, including
 | financials, utility releases, owner certifications, and owner commitments.
 | Next Steps
 | We encourage you to enter the necessary data into the attached Initial Feasibility
 | Assessment spreadsheet to determine whether you may be eligible to participate.
 | If you have any questions about this or any other part of the application process,
 | kindly call us at [NUMBER].
 | We believe that the GRP will significantly benefit all Eligible Owners and
 | participating properties. We hope to be able to work with you to retrofit your
 | property so that it realizes the important economic and environmental benefits
 | afforded by the GRP.
 | Sincerely,
 | [NAME]
 | Deputy Assistant Secretary
 | Office of Affordable Housing Preservation (OAHP)
 | U.S. Department of Housing and Urban Development