Energy conservation program is a win/win proposition.In an era of rapidly rising energy costs, owners and developers of affordable housing can gain significant benefits by investing in energy efficiency. As a developer of low- and moderate-income housing in the Bronx, I am personally aware of the full extent of these benefits. When multi-family properties reduce energy consumption, owners' operating costs operating costs npl → gastos mpl operacionales are reduced. Perhaps most significantly, investments in energy efficiency help reduce rental costs for our residents. Reflecting the nature of affordable housing, our renters have low or moderate incomes and these households are often dealing with pressing economic challenges. In addition, energy efficiency conserves natural resources, helps decrease dependence on overseas oil supplies and contributes to air quality in our communities. Because energy savings pay, off in so many ways, I was pleased when my company. PRB PRB Pharmaceutical Resources Branch Realty, was designated to serve as a pilot project for the High-Performance Housing initiative, an energy program managed jointly by New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State. The High-Performance Housing initiative taps more than $7 million in financial support from the New York State Energy Research and Development Authority's Assisted Multifamily Program. This innovative initiative directs energy-saving resources toward the city's affordable housing stock through a coordinated effort with the New York City Department of Housing Preservation and Development. The program allows owners and developers of affordable properties to incorporate approved energy efficiency measures into city-sponsored rehabilitation rehabilitation: see physical therapy. work at selected sites. This energy-saving initiative makes it easier for owners to take advantage of such high-efficiency assets as energy efficient lighting, boilers. windows, insulation, refrigerators, ventilators and energy monitoring systems. City and state officials have asserted that the High Performance Housing Initiative has the potential to generate as much as $6 million in annual energy savings for both residential building owners and tenants. The sponsoring agencies say that the overall program is expected to ensure energy efficiency in approximately 5,000 affordable apartments throughout the city. These officials also project that the initiative could reduce overall owners' annual operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. by as much as $1,000 per apartment and individual tenants' utility bills by as much as $200 per year. The program was announced last March at a ceremony held at 915 Prospect Ave., a 12-unit building developed by my firm in the Mott Haven neighborhood of the Bronx. NYSERDA NYSERDA New York State Energy Research and Development Authority chairman Vincent Delorio, NYSERDA president Peter R. Smith and HPD HPD Honolulu Police Department (Honolulu County, Island of Oahu) HPD Housing Preservation and Development HPD Housing Preservation and Development (New York City Department) Commissioner Shaun Donovan all attended the launch event. Bronx borough president Borough President (informally BP, or Beep in slang) is an elective office in each of the five boroughs of New York City. The offices of borough president were created in 1898 with the formation of the City of Greater New York. Adolfo Carrion, Jr. also joined us. In addition to 915 Prospect Ave., other sites in my company's portfolio that are participating in the program include 581 E. 164th St., 635 E. 169th St., 797 E. 170th St., 3414, 3416 and 3318 Third Ave. and 3320, 3414, 3416, 3428 and 3430 Park Ave. All told, these sites represent a total of 101 units located in various Bronx locations. All of these PRB Realty properties have been involved in rehabilitation programs Noun 1. rehabilitation program - a program for restoring someone to good health program, programme - a system of projects or services intended to meet a public need; "he proposed an elaborate program of public works"; "working mothers rely on the day care through HPD's Neighborhood Entrepreneurs Program. The overall rehabilitation of the 11 buildings was financed by $15.5 million from Banco Popular, $10.7 million from HPD and an estimated $900,000 of proceeds from the sale of low-income housing tax credits The Low Income Housing Tax Credit (LIHTC; often pronounced "lye-tech") is a tax credit created under the Tax Reform Act of 1986 (TRA86) that gives incentives for the utilization of private equity in the development of affordable housing aimed at low-income Americans. syndicated by the Enterprise Social Investment Corporation. The NYSERDA funds come from the New York State Energy Smart Assisted Multifamily Program, administered by Hamilton, Rabinovitz & Alschuler, Inc. Owners and renters alike clearly have a common interest in energy efficiency. Similarly, the public sector and the private sector share a need to reduce fuel consumption. As a developer of affordable housing, my firm expects to continue to work in cooperation with state and city officials to make sure we are all doing everything within our power to decrease energy use. Our joint initiative underscores our united commitment to energy efficiency. |
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