Sign Up For Novogradac Industry Alert Emails

HUD Publishes Updates to NOFOs for Each Cohort of GRRP

Wednesday, April 3, 2024 - 11:26AM

The U.S. Department of Housing and Urban Development (HUD) announced today that it published updates to the notice of funding opportunity (NOFO) for each of the three cohorts of the Green and Resilient Retrofit Program (GRRP)–Elements, Leading Edge and Comprehensive. Among the key items are that eligibility for the Elements cohort is expanded to properties that close (or closed) a recapitalization between May 11, 2023, and July 31, 2024, but only for a limited selection of eligible investments; the cap on awards a sponsor can receive has been modified for all cohorts; all cohorts have more clarity on how HUD will manage waiting lists and use funds that are available as awards are withdrawn, revoked or amended; and an extension of the fourth application period for Leading Edge (to May 15) and Comprehensive (to June 12). HUD requires that updated application forms be used while submitting a GRRP application.

The Feb. 13 Tax Credit Tuesday podcast focused on what makes a standout application for the GRRP.

Learn more about Novogradac's expertise and many services