The Greenhouse Gas Reduction Fund (GGRF), created by the federal Inflation Reduction Act of 2022, provides a first-of-its-kind opportunity to address the climate crisis with an unprecedented $27 billion in investments. GGRF funds will allow communities across the country to mobilize financing and private capital toward programs that reduce greenhouse gas emissions (GHGs).
A significant share of GGRF funds will be invested in existing and new residential buildings, including affordable housing, to reduce emissions associated with domestic energy usage. This report shares opportunities and challenges for financing and executing building decarbonization retrofits for unsubsidized multifamily housing in the San Francisco Bay Area that either have been recently acquired and rehabilitated by nonprofit affordable housing developers or that could be acquired and rehabilitated in the near future.
Enterprise Community Partners (Enterprise), Housing Accelerator Fund (HAF), and Local Initiative Support Corporation (LISC) collaborated on this report, bringing their vast experience in supporting developers in the acquisition and rehabilitation of existing multifamily properties to create healthy, green, and resilient affordable homes.
The Learning Center’s resources and all data and information provided therein (collectively, “Content”) are for general informational purposes only. All Content is provided “as is” and may no longer be current or up to date. Enterprise Community Partners, Inc., its subsidiaries and affiliated entities (collectively referred to as “Enterprise”) as well as any co-authors of any Content disclaim all liability for any errors or omissions and make no warranties or representations of any kind, either express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any Content presented. All Content should be independently verified by you before relying on it. The Content does not constitute professional advice or services (including but not limited to legal, financial, tax, or investment advice).
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