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Treasury and the IRS announced that applications will open at 9:00 a.m. ET on May 28 for the 2024 Program Year of the Low-Income Communities Bonus Credit. The bonus credit provides a 10 or 20 percentage point increase to the investment tax credit for qualified solar and wind energy facilities with a maximum net output of less than five megawatts. CLPHA members can view more detailed info about the program in CLPHA’s Green Funding Clearinghouse. Treasury and the IRS also announced that approximately 325 megawatts of available capacity will roll-over to the 2024 program year. This will add to the annual 1.8 gigawatts of capacity for a total of over 2.1 gigawatts of capacity available in 2024. The IRS’ allocation of the total capacity for the 2024 program year will include 224.8 megawatts to facilities that are part of federally subsidized residential buildings, and 900 megawatts to facilities where at least 50% of the financial benefits of the electricity produced go to households with incomes below 200% of the poverty line or below 80% of area median gross income. To provide information about the application process ahead of the application opening, Treasury and the Department of Energy (DOE) will host a webinar open to the public about the 2024 program year application process today at 1:00 p.m. ET. Potential applicants can register for the webinar here. All applications submitted within the first 30 days (by 11:59 pm ET on June 27) will be treated as submitted on the same date and at the same time. Following the initial 30-day period, DOE will continue to accept applications on a rolling basis. PHAs can apply for an allocation of bonus credits online at this link. |
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On Earth Day, the Biden Administration and the U.S. Environmental Protection Agency (EPA) announced $7 billion in awards through the Solar for All grant competition. PHAs are encouraged to apply for the grants. PHAs interested in accessing these funds should contact the selectee in their state or jurisdiction. This $7 billion investment in clean energy will generate an estimated 200,000 jobs across the country. All selected applicants intend to invest in local, clean energy workforce development programs to expand equitable pathways into family-sustaining jobs for the communities they are designed to serve. The 60 selected applications include 49 state-level awards, six awards to tribes, and five innovative multistate awards, spanning the entire country. A full list of selectees is available on the Solar for All website. Learn more on CLPHA’s Green Funding Clearinghouse. The Solar for All grant program is the third tranche of funding awarded through the Inflation Reduction Act’s $27 billion Greenhouse Gas Reduction Fund. The other two tranches, the $14 billion National Clean Investment Fund (NCIF) and the $6 billion Clean Communities Investment Accelerator (CCIA), were announced earlier in April. |
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This morning, HUD posted the FY 2024 Choice Neighborhoods Planning Grants Notice of Funding Opportunity (NOFO) to www.grants.gov today. Applications are due on Monday, June 10, 2024. This publication makes available up to $10 million for Planning Grants. Approximately twenty awardees will be selected for Planning Grant funding.
Choice Neighborhoods Planning Grants are 30-month grants of up to $500,000 each that assist communities with severely distressed public housing or HUD-assisted housing in developing a comprehensive neighborhood transformation plan. Grant funds also support an early action activity to foster engagement and build the momentum necessary for that plan to be successfully implemented.