HUD MARK TO MARKET GREEN INITIATIVE
FOR CURRENT AND NEW OWNERS OF MULTIFAMILY PROPERTIES
WITH EXPIRING SECTION 8 CONTRACTS
AND NAHMA PROPERTY MANAGEMENT CREDENTIAL TRAINING
Elias Global Solutions is a HUD Approved National Training Provider
for the Program and an approved NAHMA Green Property Management Trainer. We also provide extensive assistance to guide property owners through the application process, the green material specifications, and the construction and implementation process.
Housing subsidy contracts are expiring on thousands of privately owned multifamily properties with federally insured mortgages. Many of these contracts set rents at amounts higher than those of the local market. As these subsidy contracts expire, the Mark-to-Market program will reduce rents to market levels and will restructure existing debt to levels supportable by these rents.
The HUD Mark to Market Green Initiative Program encourages owners and purchasers of affordable, multifamily properties to rehabilitate and operate their properties using sustainable Green Building principles including sustainability, energy and water efficiency, recycling, and indoor air quality and to incorporate the "Healthy Housing" approach pioneered by HUD. Owners who volunteer to participate in the M2M Green Initiative can receive the beneift of a reduced owner contribution to the rehabilitation needs (to as low as 3 percent) plus and increased Incentive Performance Fee (to as much as 50 percent more than a Traditional M2M Restructure).
- Commit to a Green implementation of the first year rehab needs
- Make additional first year Green improvements recommended by the PAE
- Commit for the life of the M2M Use Agreement to a Green repair and replacement schedule and to a Green Operating and Maintenance Plan
For additional information on the Green Property Management Credential for Affordable Housing project owners, please see NAHMA's website
For additional information on the HUD Green Initiative Program, please contact HUD's Multifamily Site.