HUD now offers a reduced MIP of .25% for projects willing to adopt energy efficiency standards.To qualify, the project’s owner must hire a qualified energy professional to perform a Statement of Energy Design Intent (SEDI) and certify the minimum benchmark score of 75 is met. The owner must certify that it will maintain an industry recognized standard for green building. Once construction is complete, the owner must submit evidence that the green building standard has been achieved and re-certify annually. If the MIP reduction is granted and the property does not maintain the standards HUD will impose protocols similar to those issued by REAC and flag 2530 previous participation scores.
This fee reduction not only lowers potential fees for a project but also reduces a project’s operating expenses and environmental impact.