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Owners will find more administrative flexibility within the GRRP rules.
As part of President Biden’s Investing in America agenda, HUD recently announced it’s awarding $173.9 million in new loans and grants under the Green and Resilient Retrofit Program’s (GRRP) Comprehensive and Elements categories. The GRRP came about from a provision of the Inflation Reduction Act (IRA) of 2022, which provides $837.5 million in funding and up to $4 billion in loan authority to HUD for affordable housing properties.
