Home Innovation actively advocates for third-party certified, green, affordable housing by providing input for state Qualified Allocation Plan (QAPs). QAPs specify a state agency’s allocation of federal Low-Income Housing Tax Credits (LIHTC). Most QAPs include criteria for energy efficiency and green building, and nearly 30 states specify green building certification as a requirement or point-based incentive. When third-party green certification is included within a QAP, NGBS Green Certification is typically recognized alongside other credible national green building programs. NGBS Green certification is affordable to implement, making it ideally suited for affordable housing.
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Some multifamily developers forego seeking green building certification because they believe the costs are too high. It can cost a lot – but not for the reasons they may be thinking. Ultimately, it’s not that the costs are too high to earn the green certification – rather, it is the opportunity cost of leaving tens of thousands of dollars of incentive financing on the table when they don’t have a green certification. As these developers finalize their permanent financing, they realize how green certification would have more than paid for itself (many times over) if only they had added it as a design objective prior to construction.
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State Qualified Allocation Plans (QAPs) specify a state agency’s allocation of federal Low-Income Housing Tax Credits (LIHTC). To encourage the development of residences that support their sustainability, resilience, and healthy housing goals, states can provide federal housing tax credits to developers that build green certified housing. Comprehensive green building programs help to ensure that projects funded by housing credits will not only create new housing opportunities, but also ensure that people living in affordable housing can live healthier, spend less money on utilities, and have more opportunities with access to transportation, better quality food, and health care.
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