HAC’s Comments on Greenhouse Gas Reduction Fund
HAC has submitted its second comment letter to the Environmental Protection Agency (EPA) about the the new $27 billion Greenhouse Gas Reduction Fund (GGRF) created by the Inflation Reduction Act. In late April, EPA released an implementation framework explaining that it plans to divide the program into three competitions. The $14 billion National Clean Investment Fund will fund two or three national nonprofits to partner with private capital providers to deliver financing at scale to businesses, communities, community lenders, and others. The $6 billion Clean Communities Investment Accelerator competition will fund two to seven hub nonprofits to build the capacity of lenders such as CDFIs and housing finance agencies to finance clean technology projects. The $7 billion Solar for All competition will make grants to states, Tribal governments, municipalities, and nonprofits to prepare low-income and disadvantaged communities for residential and community solar. EPA expects to issue Notices of Funding Opportunity as early as June.
HAC first commented in December after EPA asked for general feedback. In its second letter, HAC repeats some of the suggestions made in December and makes some additional points about the implementation framework, asking EPA to:
- Address the unique needs of rural and persistent poverty communities.
- Ensure that nonprofit CDFIs and their nonprofit housing development partners are explicitly eligible for GGRF resources.
- Increase clarity and reduce administrative burden on recipients.
- Exempt housing from Build America, Buy America requirements.
Read HAC’s full comments here.HAC GGRF Comment Letter