National Housing Trust IRA Bootcamp
By Rebecca Arnold, Project Manager
The anticipated flood of Inflation Reduction Act (IRA) funds has building owners and developers across the country clamoring for the best way to get a piece of the action. One important group New Ecology doesn’t want to see left behind is Community Development Corporations (CDCs). These are 501(c)(3) non-profit organizations that are created to support and revitalize communities. They provide affordable housing across the country and provide many important services in their communities. IRA funds have the potential to help CDCs to improve their properties, reduce their carbon footprint, and benefit the quality of life of their residents.
To this end, The National Housing Trust has designed an IRA Bootcamp to help these organizations navigate this new source of funding. New Ecology has joined the Bootcamp team to provide no-cost technical assistance to CDCs across the country. Fifty organizations were invited to submit properties for evaluation.
New Ecology will work with the CDCs to create preliminary work scopes for these properties, and to educate them on the sustainable opportunities that exist for their buildings. CDCs can use these preliminary scopes as a starting point when planning building renovations and seeking assistance through IRA funds. Simultaneously, the National Housing Trust is providing education and resources on the funding opportunities available.
The New Ecology effort is being led by Joshua Galloway, Director of Green Building Services with a team of New Ecology staff who will be reviewing properties and meeting virtually with CDCs into February of 2024.