100 PERCENT OF RECOVERY ACT GREEN RETROFIT FUNDS AT WORK, CREATING JOBS
Awards providing energy efficient upgrades to nearly 20,000 homes

WASHINGTON - Today, U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced a Recovery Act milestone for the Department's Green Retrofit Program: 100 percent of the program's $250 million in grants and loans has been obligated by the September 30, 2010, statutory deadline, marking a significant achievement for a program that was created only eighteen months ago. The entire $250 million, awarded nationally, is now dedicated to developments to provide nearly 20,000 homes around the country with energy efficient upgrades. In addition to the green improvements, the green retrofit grants and loans will also create jobs, and reduce utility consumption by more than 25 percent on average, saving these low-income properties $12 million annually on utility bills.

HUD's Green Retrofit Program for Multifamily Housing, created for the first time through the Recovery Act, provided 221 projects around the country with awards to reduce utility consumption, cut water consumption, improve indoor air quality, and generate savings for tens of thousands of affordable housing residents.

"The speed and efficiency at which these funds were awarded and put to use on the ground is an example of how, through the Recovery Act, HUD is committed to creating quality green jobs quickly, while also building sustainable homes and communities across the country," said Secretary Donovan. "This achievement represents one of many milestones to come from the Recovery Act that will provide a real, long-term impact for American families and communities."

The Green Retrofit Program will create thousands of green jobs 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 such as by installing more efficient heating and cooling systems, and to reduce water use such as by replacing faucets and toilets. These Recovery Act funds will also produce other environmental benefits by encouraging the use of recycled building materials, reflective roofing, and non-toxic products to reduce 'off-gassing' of potentially harmful fumes. Funds have been awarded to owners of HUD-assisted housing projects to be used for a wide range of retrofit activities, ranging from windows/doors to solar panels and geothermal installation.

The Recovery Act included $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 was awarded through competitive grant programs, including the Green Retrofit Program. To date, 100 percent of HUD's Recovery Act grant funds are in the hands of local communities, being used to improve housing and neighborhoods, while creating jobs. 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.

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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.