NYSERDA MPP Partner
Whether you own an existing multifamily property, or are planning new construction, New York State Energy Research and Development Authority (NYSERDA) can help maximize your building’s energy efficiency for lower energy costs and greater resident comfort.
Performance pays when you approach your multifamily building as a complete system for big energy savings. The Multifamily Performance Program (MPP) is available for multifamily buildings with five or more units and four or more floors. It includes an initial whole-building assessment of the multifamily building and creation of an approved Energy Reduction Plan, with specific executable steps intended to boost your energy efficiency by 15 percent or more. Incentives are in the form of a flat payment ranging from $2,500 to $20,000 plus an additional $600 per unit (or $1.50/sq. ft. on new construction) toward the implementation of recommendations contained in the Energy Reduction Plan. Programs for low-cost financing are also available through Green Jobs–Green NY.
Multifamily Building Owner Financing
The Green Jobs – Green New York (GJGNY) Multifamily Building Energy Efficiency Financing Program provides loans to owners of multifamily buildings in order to encourage the installation of equipment that will result in energy savings. Loans are available for a wide variety of cost-effective improvements. In order for energy improvements to be eligible for financing using a GJGNY Loan, building owners must first receive an energy audit from NYSERDA’s Multifamily Performance Program. Additional incentives to help pay for audits and the installation of improvements are provided through the Multifamily Performance Program, so if you haven’t participated yet, apply now!
Any multifamily building containing 5 or more apartments located anywhere in the State of New York is eligible to receive a loan and may participate in the Multifamily Performance Program.
Loans are not provided directly through NYSERDA. In order to access a loan, building owners must work with a commercial lender of their choosing. Most lenders located in New York State are eligible [PDF] to offer loans through this program. Lenders are not required to be pre-approved to participate.