Energy Programs That Can Save You Money!
Winter is coming, bringing plenty of snow and cold along with it, which usually means heating bills get a bit more costly. But don’t worry! There are several energy efficiency programs available to property owners that can help reduce costs and offer rewarding incentives.
Xcel Energy and CenterPoint Energy’s Multi-Family Energy Solutions Program:
This program works with current Xcel Energy customers and helps them uncover energy-efficiency opportunities throughout your building – including resident units and common areas – then give you rebates and bonus incentives for making improvements.
The whole-building services you will receive from Xcel:
-A no-cost, on-site building energy analysis is conducted by experienced energy experts, and is followed by a thorough report of findings and recommendations for saving energy throughout your building.
-Energy-saving equipment installed at no cost throughout common areas and resident units including screw-in LEDs, energy-efficient faucet aerators, shower heads, power strips and weather stripping.
-Rebates and bonus incentives for making energy efficiency upgrades throughout your building.
-Implementation support and guidance to simplify the implementation process.
-Energy-saving tips brochures for your residents.
To qualify your building must:
Have five or more units
Each unit has its own kitchen
Building has a common area
Uses Xcel for energy, and either Xcel or CenterPoint for Gas
If your property meets all these requirements, Housing Hub would be happy to facilitate the application, coordination and implementation process of the program for a small fee. After the program completes their installation we will pass along a comprehensive report of the work done, the expected annual savings, and a list of rebate eligible(30% off) updates that will offer more energy savings.
Housing Hub has been facilitating properties for this program and we highly recommend it. The average savings is about $50 per unit per year, including common areas.
The City Of St. Paul’s 4(d) Affordable Housing Incentive Program:
This program offers property owners a 40% tax rate reduction and limited grant assistance for units that remain affordable for ten years. Property owners can invest the savings into updating and maintaining their naturally occurring affordable housing units.
To qualify for this program, you must be designated as an affordable housing property for low-income residents.
To Be Eligible, Properties Must:
Meet the following availability and affordability standards based on the amount of total rental units:
Single unit (Single-family homes):
Affordable to 50% AMI or below
Two total units (Duplexes and/or Accessory Dwelling Unit):
At least 50% of units affordable to 50% AMI or below
Three or more total units (Multifamily buildings):
At least 20% of units affordable to 50% AMI or below, OR;
At least 50% of units affordable to 60% AMI or below
Be graded A or B by the Department of Safety and Inspections
Have no rental housing license revocations or outstanding citations
If you are interested in learning more about these programs, just contact Ben Herding, Housing Hub’s Director of Finance: 651-488-2437 ext 109 or firstname.lastname@example.org