House Passes the Private Investment in Housing Act of 2015

House Passes the Private Investment in Housing Act of 2015
Posted: 7/15/2015
July 14, the House of Representatives passed The Private Investment in Housing Act of 2015, H.R. 2997, by a vote of 395-28. The bill would authorize a pay-for-success demonstration program that leverages private funding to improve the water and energy efficiency of HUD multifamily developments.

The bill would authorize HUD to enter into performance-based contracts with private sector intermediaries who would fund and oversee utility efficiency upgrades for existing residential properties. Investors would receive a percentage of energy savings as repayment from HUD only after the savings are verified by a third party.

The demonstration program would last for four years, beginning in FY 2016. Up to 20,000 units in Project-Based Section 8, Section 202, and Section 811 properties would be eligible to participate.

spacer.cfm?tracking_id=26776535040

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s