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NALCAB Conference September 2009

NALCAB Conference September 2009. Robert A. Rapoza Rapoza Associates www.rapoza.org Email: bob@rapoza.org P hone (202) 393-5225. Overview. American Recovery and Reinvestment Act (ARRA) Fiscal Year 2010 Appropriations Climate Change and Community Development.

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NALCAB Conference September 2009

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  1. NALCAB ConferenceSeptember 2009 Robert A. Rapoza Rapoza Associates www.rapoza.org Email: bob@rapoza.org Phone (202) 393-5225

  2. Overview • American Recovery and Reinvestment Act (ARRA) • Fiscal Year 2010 Appropriations • Climate Change and Community Development

  3. ARRA: $13.61 Billion to HUD • $1 Billion CDBG • $2 Billion Neighborhood Stabilization Program (NSP) • $2.25 Billion Section 8 renewals including $250 Million for energy retrofit and green investments

  4. ARRA: $13.61 Billion to HUD • $2.25 billion HOME • Tax Credit Assistance Program (TCAP) grants for investment in LIHTC projects • formula-based allocation to State housing credit allocation agencies  • $4 billion Public Housing Capital Fund

  5. ARRA: HUD $ Spending StatusSource: HUD

  6. ARRA: Department of Energy$3.2 Billion Total for Energy Efficiency Conservation Block Grant (EECBG) Program • Grants to nonprofit organizations and governmental agencies for the purpose of performing Energy Efficiency Retrofits • Residential and Commercial Building Energy Audits • Financial Incentive Programs for energy efficiency improvements • Development and Implementation of Transportation Programs to conserve energy • Material Conservation Programs including source reduction, recycling, and recycled content procurement programs that lead to increases in energy efficiency

  7. ARRA: Department of Energy Energy Efficiency and Conservation Block Grant (Con’t) Breakdown of $3.2 Billion Total Allocation: • $2.7 Billion direct formula grants to States, Cities, Counties • $456 Million in competitive grants • non-profit organizations eligible as sub-grantees; • all entities eligible for direct formula grants or sub-grants from states also eligible; • Limitation on use of funds for establishment of revolving loan funds: the higher of 20% or $250,000 • Limitation on provision of sub-grants to nongovernmental organizations to assist with implementation of energy efficiency and conservation strategy of eligible unit of local government or Indian tribe: greater of 20% or $250,000 Weatherization Assistance Program - $5 Billion • allows investment up to $6,500 per home in energy efficiency upgrades; • available for families making up to 200% of federal poverty level – about $44,000 a year for a family of four

  8. ARRA: Department of Labor$500 million Green Job Training • $5 million Green Capacity Building Grants for current DOL grantees • $150 million Pathways Out of Poverty Grants to provide training and placement services for workers to be hired within the energy efficiency and renewable energy industries. Closing date September 29, 2009. • $190 million State Energy Sector Partnership (SESP) and Training Grants to incorporate workforce interests, State energy policies and local and regional training activities that create jobs in targeted industry sectors. Closing date October 20, 2009.

  9. Fiscal Year 2010 Appropriations • House passed all 12 spending measures • Senate has only completed 5: • Agriculture • Energy & Water • Homeland Security • Legislative Branch • Transportation-HUD

  10. HUD Appropriations ($ in Millions)

  11. Agriculture Appropriations($ in Millions)

  12. Total Revenues and Outlays Under the President's Budget (% of GDP) Source: Congressional Budget Office

  13. FY10 Budget Request: $3.6 TrillionProjected 2009 Deficit: $1.8 Trillion Source: Congressional Budget Office

  14. Politics of Cap-and-Trade: From Blue vs. Red to Brown vs. Green

  15. Climate Change Legislation American Clean Energy Security Act of 2009 (HR 2425) Renewable Electricity Standard Energy Efficiency for buildings, appliances, transportation, utilities, industry Market-based pollution reduction program 2012 Transition to clean energy economy Domestic competitiveness, consumer assistance

  16. Climate Change & Community Development American Clean Energy Security Act of 2009 • Low-Income Community Energy Efficiency Program (LICEEP) - $60 million - CDCs and CDFI investment in poor areas - Green job opportunities, energy efficiency - Technical assistance - Loans, Investments - Urban and Rural

  17. Tax Legislation • New Markets Tax Credit (NMTC) Extension Act of 2009 (S. 1583/ H.R. 2628) • Low Income Housing Tax Credit (LIHTC)

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