IRA Archives

At the close of 2023, it’s a certainty that the Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL) are catalyzing a huge uptick in clean energy projects across the United States.

There’s a brave new world of opportunities for “green” multifamily affordable housing renovation and development coming with the ever-quickening ascendancy of green buildings.

Federal agencies have steadily made progress in rolling out the new funds from the Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL).

The Inflation Reduction Act of 2022 (IRA) provides a broad range of new incentives to install solar energy equipment, many of which are available to Low Income Housing Tax Credit (LIHTC) projects and some that are uniquely available for affordable housing.

Today’s solar power systems are cheaper to build and more efficient than ever.

One of the Inflation Reduction Act’s (IRA) most significant budget items is the money for tax credits, which could ultimately be worth over $500 billion.

Property managers are often asked to wear many hats: owners’ representative, rent collector, social worker, maintenance coordinator, event planner and building/systems expert, just to name a few. It’s a complex, multi-faceted job that I have immense respect for, especially as they served on the front lines during the pandemic and continue to adapt to a dramatically shifting landscape.

As we near the end of the year, federal agencies, including the U.S. Department of Energy (DOE), the U.S. Department of Housing and Urban Development (HUD) and the Environmental Protection Agency (EPA), are finalizing the design of Inflation Reduction Act (IRA)-created programs and releasing more and more of the funds.

The U.S. Department of Housing and Urban Development (HUD) recently opened applications for its new Green and Resilient Retrofit Program (GRRP), a multi-billion-dollar initiative meant for deep green improvements to certain HUD contract properties.

Since early 2023, ICAST’s articles have covered the Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL) and their potential impacts on multifamily affordable housing.

More and more states have regulations and mandates requiring multifamily affordable housing properties to decarbonize (i.e., replace the use of natural gas, oil or propane with electricity).

Last month, I had the privilege of attending the Innovative Housing Showcase, which was co-hosted by the Department of Housing and Urban Development and the National Association of Home Builders.