Owners of small buildings can get up to $50,000 per unit to fund decarbonization retrofits.
A new forgivable loan program from the city of Boston will help small housing owners switch their buildings to electric power, reports Ysabelle Kempe in Smart Cities Dive.
“There are several stipulations for the owners, who will be selected through an October lottery and can get up to $50,000 per unit: They must live in the building, have a household income below a certain threshold and charge below a certain amount for rent, plus the building must have been built before 1999.”
The program is part of a larger effort to reduce dependence on fossil fuels and introduce renewable energy alternatives. “The city says the work will give residents better indoor air quality and comfort, along with lower utility bills. But the city also wants to avoid the upgraded housing resulting in the displacement of current tenants, and building owners given grants are not allowed to displace tenants in good standing or unreasonably raise rent as a result of the retrofits.”
FULL STORY: Boston launches pilot to help small housing owners go electric
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