SECRETARY DONOVAN ANNOUNCES THE FIRST RECOVERY ACT GREEN RETROFIT GRANT FOR MULTI-FAMILY HOUSING
Award to NYC Project will create green jobs and reduce energy costs

WASHINGTON - U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today announced that nearly 200 apartment units in New York City will become more energy efficient as the result of $3.6 million in funding being awarded today to Jonathan Rose Companies, a New York-based property owner and developer. It is the first award
to be announced under HUD's new Green Retrofit Program for Multifamily Housing, created through the American Recovery and Reinvestment Act of 2009. The Green Retrofit Program is providing $250 million nationally to reduce energy costs, cut water consumption, and improve indoor air quality. Additional grant awards will be made under
this program over the next few months on a rolling basis.

The project being funded today is West 135th St. Apartments in Harlem, New York, a 198-unit, 10 building,
Section 8 assisted property. The renovation to this project will enhance quality of life for residents and increase energy efficiency. It will produce an approximately 25% savings in utility costs and will create quality construction-related job opportunities. Retrofits will include EnergyStar refrigerators, replacement of 32 old boilers with 10 high-efficiency boilers, rooftop solar photovoltaic panels, formaldehyde-free kitchen cabinets, recycled-material kitchen counters, EnergyStar ceiling fans, compact fluorescent lamp (CFL) fixtures and bulbs, double-pane argon-filled low emissivity (low-e) windows, insulated exterior doors, low-flow fixtures, shower heads and toilets, linoleum flooring
to replace vinyl tile, wood floor installations using Forest Stewardship Council (FSC)-certified wood, and non-toxic paints, adhesives and sealants throughout.

"I am proud to announce this award to Jonathan Rose today because he has been a leading innovator, advocate
and practitioner of green building, particularly of green affordable housing," said HUD Secretary Shaun Donovan.
"This funding will not only improve New York's housing stock, but will lower energy costs and create quality green jobs."

The Green Retrofit Program is designed to create thousands of green jobs across the country as workers retrofit
older federally assisted multi-family apartment developments with the next generation of energy efficient technologies. Grants and loans provided through this program help private landlords and property management companies to cut heating and air conditioning costs by installing more efficient heating and cooling systems and to reduce water use by replacing faucets and toilets. These Recovery Act funds also produce other environmental benefits by encouraging the use of recycled building materials, reflective roofing, and non-toxic products to reduce potentially harmful 'out gassing' of harmful fumes. Funds are awarded to owners of HUD-assisted housing projects
and can be used for a wide range of retrofit activities, ranging from windows/doors to solar panels and geothermal installation.

The Recovery Act includes $13.61 billion for projects and programs administered by HUD, nearly 75 percent of which was allocated to state and local recipients only eight days after President Obama signed the Act into law. The remaining 25 percent of funds is being awarded through competitive grant programs including the Green Retrofit Program. HUD is committed to implementing Recovery Act investments swiftly and effectively as they generate tens
of thousands of jobs, modernize homes to make them energy efficient, and help the families and communities
hardest hit by the economic crisis.

In addition, Secretary Donovan and the Department are committed to providing the highest level of transparency possible as Recovery Act funds are administered. It is vitally important that the American people are fully aware of how their tax dollars are being spent and can hold their federal leaders accountable. Every dollar of Recovery Act funds HUD spends can be reviewed and tracked at HUD's Recovery Act website. The full text of HUD's funding
notices and tracking of future performance of these grants is also available at HUD's Recovery Act website.

###

HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.