April 25, 2017
Did you know that you can get a reduction in your HUD MIP rate to 0.25% for being energy efficient?
To qualify for the reduction, a building must:
- Provide evidence of green building certification; or,
- Certify that it has achieved, or will pursue and achieve a score of 75 or better using the EPA's Portfolio Manager
Steps towards qualification include:
- Verify achievement of requirements by a qualified assessor
- Include in the physical condition assessment report a certification that the planned scope of work is sufficient to achieve the specified certification
- Submit evidence that the green building standard has been achieved and,
- Provide a copy of the Portfolio Manager report showing building performance at or above 75, once standard is achieved
We recently worked with Capitol Hill Tower Housing Co-op, to earn the Environmental Protection Agency's ENERGY STAR Certification. Using this certification, the building's lender worked with SOL VISTA to secure the Green and Energy Efficiency Housing MIP reduction. The MIP rate drop to 0.25% saves the property over $100,000 per year in loan payments.
These reduced rates allow owners to implement greater standards of energy efficiency, reduce operating costs, and improve resident comfort all while achieving significant savings. In addition, Capitol Hill Tower is one of our many Skywalk platform subscribers who receive ongoing building performance recommendations and maintain compliance with local benchmarking laws.
We want to work with you to achieve similar successes as Capitol Hill Tower. Contact us for more details on the program and getting qualified.
