Power Forward Communities, Inc

Description:this Agreement Provides Funding Under the Inflation Reduction Act (IRA) to Power Forward Communities (PFC). the Recipient Will Utilize the Funding to Reduce Emissions of Greenhouse Gases and Other Air Pollutants; Deliver Benefits of Greenhouse Gas- and Air Pollution-reducing Projects to American Communities, Particularly Low-income and Disadvantaged Communities (lidacs); and Mobilize Financing and Private Capital to Stimulate Additional Deployment of Greenhouse Gas- and Air Pollution-reducing Projects. Specifically, the Recipient -- Formed by Five of the Country's Most Trusted Housing, Climate, and Community Investment Groups -- Will Build and Lead a National Financing Program to Provide Customized and Affordable Capital Solutions for Single-family and Multi-family Housing Owners and Developers, Driving Down Costs and Creating Stronger, More Affordable, More Resilient Homes. the Coalition Will Also Dedicate Time and Funding Towards Collaborating With and Educating Community Members to Help Prioritize the Best Solutions for an Individual's Specific Needs in an Effort to Provide Lasting and Genuinely-impactful Solutions. Activities:the Activities Include a Balance of Local Implementation With a National Strategy to Deliver Focused, Scaled, and Lidac-first Market Transformation. Power Forward Communities (PFC) Will Enrich the Local Implementation, Led by Community-based Organizations (cbos), by Putting All Building Owners in a Position to Act Through Awareness Campaigns and Expanding Access to Individualized, Actionable Information Including Planning Tools, Simplified Choices, and Trustworthy and Reliable Support Services, in Addition to Supporting a Vetted Local Contractor Network. the National Strategy Will Work to Reduce the Cost of Participation and Streamline Project Delivery and Reduce Friction, Alongside Customized and Affordable Financing Solutions. Additionally, PFC Will Mobilize a Variety of Affordable Capital Solutions That Cater to a Variety of Projects and Needs. Subrecipient:power Forward Communities (PFC) Is Able to Generate a Pipeline From a Number of Sources: (1) Low-income Housing Tax Credit (LIHTC) Properties With Expiring Compliance Periods That Are Slated for Green Retrofits, as Well as the Origination of New Net-zero Emissions Properties, Through Enterprise and Lisc's Lihtc Business Lines; (2) Enterprise Community Development's Portfolio of Units Owned and Operated Across 115 Properties in the Mid-atlantic Region; (3) Enterprise Real Estate Equity's Portfolio of Affordable Properties With Green Retrofit Needs; (4) Community Facility Projects Through Enterprise and Lisc's New Market Tax Credit (NMTC) Units, the Two Largest Allocatees in the Country; (5) Habitat's 1,200 Chapter Network of Single-family Developers; and (6) Enterprise and Lisc's Existing Initiatives for Supporting Mwbe Developers and Contractors. Enterprise Green Accelerator, Inc. (EGA) Will Provide Financial Assistance Through a Few Different Mechanisms: 1) Low-income Housing Tax Credit (LIHTC) Properties With Expiring Compliance Periods That Are Slated for Green Retrofits, 2) Their Real Estate Equity Portfolio Involving Workforce and Affordable Properties With Green Retrofit Needs as Well as the Origination of New Net-zero Emissions Properties, 3) Their Community Development Portfolio Which Includes Ownership and Operation of Affordable Housing Properties in the Mid-atlantic Specifically, and 4) Their New Market Tax Credit (NMTC) Units Which Will Include Green Retrofit or New Construction of Net-zero Emission Properties. They Will Be Collaborating With Lisc Green LLC to Assist Property Owners With Decarbonization Plans. Ega Will Also Be Using Some of Their Subaward for Market Building, Predevelopment, and Program Administration Activities. Lisc Green LLC Will Provide Financial Assistance Through a Few Loan Offerings That Lean on Lisc's Current Systems for Impact Including T