Governor Hochul Announces $16.5 Million is Now Available to Decarbonize Affordable Housing in New York City

State and City Partnership Expanded Through Resilient and Equitable Decarbonization Initiative for Existing Buildings Program

Investment Expands Electric and Energy Efficiency Upgrades to Benefit More Low- to Moderate-Income Residents

Governor Kathy Hochul today announced $16.5 million is now available to decarbonize and improve existing affordable housing in New York City through the Resilient and Equitable Decarbonization Initiative for Existing Buildings (REDi: EB) Program. The funding is an expansion of a collaborative partnership between New York State and New York City to provide affordable housing building owners and developers easier access to funding for electrification and energy efficiency retrofit upgrades to New York City Department of Housing Preservation and Development (HPD) regulated buildings. Modernizing HPD buildings into highly efficient living spaces will help to reduce use of fossil-fuels, lower greenhouse gas emissions and improve indoor air quality for low-to moderate income residents.

“In partnership with New York City, we're advancing funding to reduce building emissions and tackle the climate crisis," Governor Hochul said. “We are ensuring developers and building owners have access to the resources they need to retrofit affordable housing so we can decarbonize buildings in underserved communities."

With today’s announcement, $15 million is now available through REDi: EB, which is administered by HPD in partnership with the New York State Energy Research and Development Authority (NYSERDA), on a first come, first served basis to cover the incremental costs to strategically electrify space heating and domestic hot water production and improve the building envelope via enhanced insulation, windows, and ventilation systems. HPD, NYSERDA, and technical consultants will work with project teams to determine a scope that works best for each project. The maximum award is $1 million per building or up to $2 million for multi-building projects. Incentive funds will be paid to the project by HPD during the construction phase.

Also, $1.5 million is now available to fund technical assistance throughout the design, construction and post-construction phases for projects participating in REDi: EB. Applications will be accepted until December 31, 2025, or until funds have been exhausted.