The Department of Energy is offering the Energy Innovation Fund PowerSaver Pilot 203(k) Program to expand the current PowerSaver Retrofit Pilot program to FHAs Section 203(k) home purchase and rehabilitation program. Grants are available to currently-approved Section 203(k) lenders to test and scale a mainstream mortgage product for home energy retrofit loans. The goal is to make home energy retrofits more affordable and widely available, while establishing data on the impact of energy efficiency improvements. The ultimate aim is to drive the development and expansion of mainstream mortgage products to support home energy efficiency retrofits. Closing date for applications is Sep 12, 2013.
Opportunity ID: 239829
General Information
| Document Type:: | Grants Notice |
| Funding Opportunity Number:: | FR-5700-N-30 |
| Funding Opportunity Title:: | Energy Innovation Fund PowerSaver Pilot 203(k) Program |
| Opportunity Category:: | Discretionary |
| Opportunity Category Explanation:: | |
| Funding Instrument Type:: | |
| Category of Funding Activity:: | Community Development |
| Category Explanation:: | |
| Expected Number of Awards:: | 4 |
| Assistance Listings Number(s):: | 14.319 — Multifamily Energy Innovation Fund |
| Cost Sharing or Matching Requirement:: | No |
| Version:: | Synopsis 3 |
| Posted Date:: | Aug 13, 2013 |
| Last Updated Date:: | Aug 13, 2013 |
| Original Closing Date for Applications:: | Sep 12, 2013 |
| Current Closing Date for Applications:: | Sep 12, 2013 |
| Archive Date:: | Oct 12, 2013 |
| Estimated Total Program Funding:: | $ 5,000,000 |
| Award Ceiling:: | $2,500,000 |
| Award Floor:: | $500,000 |
Eligibility
| Eligible Applicants:: | Others (see text field entitled “Additional Information on Eligibility” for clarification) |
| Additional Information on Eligibility:: | Applicants for grant assistance under this NOFA are limited to existing FHA-approved Lenders with a minimum loan volume of 300 Section 203(k) loans insured by FHA in FY 2012 (October 1, 2011 through September 30, 2012). These lenders are as follows: Wells Fargo, Prospect Mortgage, Bank of America, Prime Lending A Plains Capital Company, Real Estate Mortgage Network, Michigan Mutual, American Financial Resources, AmeriFirst Home Mortgage, and Fifth Third Bank. Title II FHA-approved lenders who were previously selected to participate in the initial Title I PowerSaver Pilot are automatically eligible to participate in the PowerSaver Pilot 203(k) Program, but are not eligible to receive additional grant funds provided through this NOFA. |
Additional Information
| Agency Name:: | Department of Housing and Urban Development |
| Description:: | The purpose of this Notice is to expand the current PowerSaver Retrofit Pilot program to FHAs Section 203(k) home purchase and rehabilitation program, by making grants available to currently-approved Section 203(k) lenders for this purpose. The overall goals of the PowerSaver Retrofit Pilot Program are: (1) to facilitate the testing and scaling of a mainstream mortgage product for home energy retrofit loans that includes liquidity options for lenders, resulting in more affordable and widely available loans than are currently available for home energy retrofits; and (2) to establish a robust set of data on home energy efficiency improvements and their impact on energy savings, borrower income, property value, and other metrics for the purpose of driving development and expansion of mainstream mortgage products to support home energy efficiency retrofits. |
| Link to Additional Information:: | |
| Grantor Contact Information:: | If you have difficulty accessing the full announcement electronically, please contact: |
Version History
| Version | Modification Description | Updated Date |
|---|---|---|
| Synopsis 3 | Corrects phone number. | Aug 13, 2013 |
| Synopsis 2 | Modification adds CFDA number. | |
| Synopsis 1 |
Package Status
Below are CLOSED Opportunity Package(s) no longer available for this Funding Opportunity:
Package No: 1
| Assistance Listings: | 14.319 |
| Competition ID: | EIS-PS |
| Competition Title: | PowerSaver |
| Opportunity Package ID: | PKG00183230 |
| Opening Date: | Aug 15, 2013 |
| Closing Date: | Sep 12, 2013 |
| Agency Contact Information:: | Michael Freedberg |
| Who Can Apply:: | Organization Applicants |
| mendatory_forms |
Application for Federal Assistance (SF-424) [V2.1] HUD Facsimile Transmittal [V1.1] |
| optional_forms |
HUD Applicant-Recipient Disclosure Report [V1.1] Disclosure of Lobbying Activities (SF-LLL) [V1.1] Attachments [V1.1] |
Packages
| Assistance Listings | Competition ID | Competition Title | Opportunity Package ID | Opening Date | Closing Date | Actions | Who Can Apply: | |
|---|---|---|---|---|---|---|---|---|
| 14.319 | EIS-PS | PowerSaver | PKG00183230 | Aug 15, 2013 | Sep 12, 2013 | View | Michael Freedberg | Organization Applicants |