Governor Spitzer Approves Change to Low-Income Housing Tax Credit Allocation Plan to Include "Green" Principles

Press Release

GOVERNOR SPITZER APPROVES CHANGES TO LOW-INCOME HOUSING TAX CREDIT ALLOCATION PLAN TO INCLUDE "GREEN" PRINCIPLES
Tax Credits will be used to Encourage Smart Growth, Energy Efficiency

Governor Eliot Spitzer today approved major changes to the State's Qualified Allocation Plan (QAP) which sets guidelines for the distribution of hundreds of millions of dollars in Federal and State Low Income Housing Tax Credits to affordable housing developers. Continuing his "15 x 15" commitment to lower New York's energy consumption, and his promise to make it the best place to live, work, raise a family and run a business, the Governor's new guidelines will improve the efficiency, environmental quality and affordability of New York's housing stock.

The Division of Housing and Community Renewal (DHCR) will now require inclusion of "green" elements in all funded projects. Progressive measures such as Energy Star appliances, light fixtures and heating systems, lead-safe work practices, water conserving fixtures and daylight sensors or timers on outdoor lighting are now mandatory. The program will now also encourage brownfield redevelopment, solar energy, measures to promote healthy indoor air quality, and sustainable development measures such as "smart" project siting and surface water management plans.

"The new Qualified Allocation Plan aligns affordable housing investment strategies with environmentally-responsible building practices," said Governor Spitzer. "It will encourage smart growth and energy efficiency, while also helping us achieve our goals: lowering energy consumption by 15 percent by 2015; preserving and rehabilitating affordable housing; and revitalizing upstate communities. These new guidelines will play a critical role in ensuring that our affordable housing stock is the best in the nation."

BREAK IN TRANSCRIPT

Source