MIP is 0.25% for all “green” projects vs 0.6% for refinance and 0.65% for new construction market rate. Under the 2016 MAP Guide, a property could take an Energy Star Existing test and 75 or higher is obtained, get a green certificate. Most properties built in 2000 or later will qualify with few or no retrofits at all. Testing is between $4,000 and $12,000, depending on the availability of utility data. In the 2020 Guide, this is no longer possible. To get green on an existing property, the property’s energy usage must be reduced by at least 15% from current levels. That will cost about $40,000 for testing and certification and about $500 per unit in energy retrofits. It will be difficult for post-2000 properties to show such a reduction. However for properties built in the last three years and for which application is made by March
18, 2023, Energy Star Existing certification is still available. But now need 90+ not 75+ on Energy Star test. The 2020 MAP Guide adds the requirement for an architect for properties seeking green MIP in
a 223(f). Further: “Section 223(f) applications with repairs and alterations intended to achieve a green building certification should be presented in a concept meeting, in which event a purpose of the concept meeting is to confirm the appropriate choice of a green building certification and achieve mutual understanding of the requirements for certification.”

Greg Hunter Changed status to publish March 16, 2021
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