This document summarizes a presentation about promoting climate resilience in communities. It discusses two approaches to climate action: decarbonization and adaptation. It then outlines strategies to protect housing and communities from climate risks, such as developing a climate risk reduction platform for affordable housing. The presentation notes that the Inflation Reduction Act will provide funding to finance climate resilience solutions through agencies like HUD, DOE, EPA and Treasury. It encourages developing projects now to take advantage of upcoming grant programs established by the Act to promote climate resilience in communities.
2. Agenda
• The Tale of Two Paths for Climate Action: Decarbonization
and Adaptation
• What strategies and solutions work to protect and adapt
housing and communities to Climate Risk
• How the Inflation Reduction Act will fund and finance
climate risk solutions
• How you can start to develop projects to promote climate
risk in your communities
2
4. Enterprise Community Partners
Increase Housing Supply
Preserve and produce good homes
that people can afford
Advance Racial Equity
After decades of systematic
racism in housing
Build Resilience & Upward Mobility
Support residents and strengthen communities
to be resilient to the unpredictable
WHAT WE DO
4
We focus on the greatest need – the massive shortage of affordable rental homes – to achieve three goals:
5. 5
• Practitioner: Finance, Affordable
Housing Climate, Equity
• Enterprise Community Partners
• Resilience21
• Duke University Resilience
Roadmap
• NY State Housing Climate
Assessment
• NYC LL97 Advisory
• Advisory City, State, Federal
10. Defining Exposure and Climate Risk
10
Proximity to
Climate Risk
(Flood Plane, Fire
Zone, Drought)
State of
Economy
Average Median
Income
Social
Vulnerability
State of Repair:
Infrastructure
State of Repair:
Housing
Institutional
Support and
Redundancy
Access to
Communications
Capacity
11. Two Paths to Managing Cliamate Risk
11
Adaptation: Protect
Assets and Adapt to
Conditions
Mitigation: Reduce
Global Warming
Hybrid Approach
19. 19
Identify Property
Risk via Portfolio
Protect
1
Assess Vulnerable
Properties with
Building Protect
2
Receive
Keep Safe
Building
Report
3
Funding
Guide
4
Keep Safe
Residents Training
6
Ready to Respond
Business Continuity
Training
5
Keep Safe Loan
Funding
7
Building Residents Operations
• Prepared Residents
• Business Continuity
• Funding for Building
• Prepared Building
Danger Awaits. Protect
Yourself from Climate Change!
23. Climate Provisions that Impact Housing:
Direct Spending
INFLATION REDUCTION ACT
$1B
HUD’S GREEN AND RESILIENT
RETROFIT PROGRAM (GRRP)
$4.3B
DOE'S HOME ENERGY
PERFORMANCE BASED, WHOLE
HOUSE REBATES (HOMES)
$4.5B
DOE'S HIGH-EFFICIENCY ELECTRIC
HOME REBATE PROGRAM (HEEHR)
$27B
EPA'S GREENHOUSE GAS
REDUCTION FUND
$3B
EPA'S ENVIRONMENTAL AND
CLIMATE JUSTICE BLOCK GRANTS
$1B
DOE - BUILDING ENERGY CODES
23
24. Timeline for Program Implementation
Sept 2028
All funds must be spent
Sept 2031
All funds must be spent
Aug 2024
HOMES and HEEHR state
spending plans due to
DOE for approval.
Feb 2023
EPA to start distributing Funds
Oct 2022
RFI Comments due
24
HUD’s Green and Resilient Retrofit Program
DOE's Rebates Programs
EPA’s Greenhouse Gas Reduction Fund
Treasury's Bonus Affordable Housing Solar (ITC)
Sept2024
GGRF Grants must be
complete
RFI Comments due
Nov 2022 Feb 2023
Guidance Released
Jan 2032
Tax Credits Expire
25. NEXT STEPS
25
• Develop your Pipeline!
• Funding for the various grant programs will start to roll out
in 2023, but implementation will be long-term
• Now is the time to weigh in with agencies as they draft
regulations (HUD, EPA, DOE, Treasury)
Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $54 billion and created 873,000 homes across all 50 states – all to make home and community places of pride, power and belonging. Join us at enterprisecommunity.org.
Together with our partners, we focus on the greatest need – the massive shortage of affordable rental homes – to achieve three goals:
Increase the supply of affordable homes
Advance racial equity after decades of systematic racism in housing
Support residents and strengthen communities to be resilient to the unpredictable and make upward mobility possible
Climate Risk has presented itself as a material risk for the affordable housing industry—the risks is showing up in rising insurance costs, or markets losing insurance partners as well as in destruction or damage of housing
2021 CoreLogic Climate Change Catastrophe Report Estimates 1 in 10 U.S. Residential Properties were Impacted by Natural Disasters in 2021-either impacted by creating permanent loss or temporary loss of housing for residents. The report revealed over 14.5 million single- and multifamily units were impacted by the largest natural catastrophe events of 2021, with an estimated $56.92 billion in property damage: Wildfire, Sever weather Hurricane and Winter storm.
Losses of properties can lead to reduction in affordable housing, impacts to services and service economies and loss of heritage and culture when communities lose shelter.
For the first time in our nation’s history, the Federal Government has made it a goal that 40 percent of the overall benefits of certain Federal investments flow to disadvantaged communities that are marginalized, underserved, and overburdened by pollution. President Biden made this historic commitment when he signed Executive Order 14008 within days of taking office.
What kinds of investments fall within the Justice40 Initiative? The categories of investment are: climate change, clean energy and energy efficiency, clean transit, affordable and sustainable housing, training and workforce development, remediation and reduction of legacy pollution, and the development of critical clean water and wastewater infrastructure.
Who we work with
Portfolio Protect | Enterprise Community Partners
We developed a tool to help owners and operators and developers understand what the risk of their property is from a variety of perils
We will provide a review of this tool next week for an internal team of Credit Convened Trainings for Analysts and Underwriters
This is a step 1, you may need to go to Local Maps for Flooding
All public national data, next level investment grade.
Incorporate results in your underwriting write up.
If something seems off, trust your instinct and investigate
Keep Safe - A Guide to Resilient Housing Design and Construction is a new manual for safe, resilient housing construction for Puerto Rico and other island communities developed in the aftermath of Hurricane Maria.
Enterprise Community Partners led a large team, including the University of Puerto Rico School of Architecture and Planning, the Puerto Rico Homebuilders Association, Perkins and Will, and the MIT Urban Risk Lab, among others, to develop a comprehensive manual for rebuilding in the Caribbean in the most sustainable, long lasting way in the face of escalating hazards due to climate change.
How are we addressing getting ahead of the events—mitigating risk:
Guidance on what resilient housing able to adapt and mitigate risk in PR and island communities
Deploying guidance to MF housing owners on vulnerability to climate and including resident voices in Maim to bring to scale in FL
Identifying how to sunlight processes in California that are sometimes hard to-what is mitigation and how to do we relate equitable partiication in process
Finally helping owners develop business continuity plans to mitigate risk
The main sections present the complex and interconnected challenges of adapting to climate change in five parts:
Overview of Natural Hazard Vulnerabilities in Puerto Rico explains the principles behind climate change mitigation and profiles natural hazards that present the greatest risks to housing and residents.
Strategies for Resilience contains 28 strategies that utilize straightforward language and diagrams to present what you need to know about the technical aspects of each strategy.
Each strategy comprises of an introduction to a particular challenge, a description and function of what the strategy entails, how it works, and of ways to apply said strategy through actions to increase resilience. While all the strategies are interrelated to some degree, a list of supporting strategies refers you to the most closely related material, while the listed resources will direct you to more detailed information. Where relevant, there are tips on operations and maintenance, approximate costs, and additional benefits. Finally, different case studies will be shown to illustrate implementation.
The Strategies are organized by chapters as follows:
A Safer Site
Building Protection
Passive Habitability
Water Management
Energy
Emergency Preparedness
Community
Putting it Together will help you implement plans for implementing strategies.
Community Engagement holds strategies to encourage community preparedness. Homeowners and housing owners can not achieve resiliency without community strength. This chapter also shows how communities in Puerto Rico can build upon the networks that arose after Hurricane Maria to be ready for the next disaster and grow more connected every day.
Putting it Together
Description of Strategy + Mitigation Potential
What you need to Know
Implementation
Estimated Cost
Resources
Community Case study
Now I'll walk through the program In more detail -
Assess Your Risk: Use the online portfolio tool (Enterprise Portfolio Protectsm) to provide an initial analysis of the risks associated with specific properties in a specific portfolio of buildings.
Identify Buildings with the Greatest Need: Review the outputs of the Portfolio Tool to focus your resources on the buildings that are identified as most at-risk.
Next, Conduct a Property Resilience Assessment– Use the Building Protect tool to conduct an evaluation of specific details of a property and identify resilience strategies at the building level through the site assessment.
Owners then receive a report specific to their property with recommendations for strategies to mitigate identified risks.
Resources such as the Funding Resources Guide and the Business Continuity Toolkit are available to help identify potential capital to implement relevant resilience strategies. Or in terms of the Business Continuity Toolkit, it equips multifamily affordable building owners & managers with a plan to address the next crisis.
We also partner with local nonprofits to offer resident training and support.
And the City of Miami has allocated CDBG resources to City affordable properties to make improvements.
Addressing household insecurity
By most models, the IRA reduces our current greenhouse gas (GHG) emissions by 38% to 40% from 2005 levels—providing a significant (though partial) leap toward the Biden administration’s goal of a 50% reduction by 2030 and net zero emissions by 2050.
IRA also commits $9 billion in residential tax credits, rebates, and other investments for building new electric and energy-efficient homes, replacing fossil-fuel-reliant systems in existing homes
there are of course other agencies that are involved (USDA, DOT, etc for example) but I think important to note we are highlighting the ones that are particularly relevant to the grants and tax items that impact housing so that people know who is administering those programs, rather than a full list of all the agencies involved.
States will play a key role
Political implications if congress changes
