The Green Retrofit Program for Multifamily Housing (the "GRP") is a housing program that will be administered by the U.S. Department of Housing and Urban Development ("HUD") that was recently enacted as part of the American Recovery and Reinvestment Act of 2009. Congress appropriated $250 million for HUD to make loans and grants to qualified owners in order to facilitate the construction and installation of utility-saving retrofits and other retrofits that create environmental benefits in certain HUD-assisted multifamily housing projects. The goal of the GRP is to promote sustainable "green" development of projects that will reduce utility expenses, energy demand, and impact on the environment while creating jobs and providing a much-needed boost to the economy. The following is a summary of the GRP: see table
