NALCAB Conference September 2009 Robert A. Rapoza Rapoza Associates Phone (202)

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

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

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

ARRA: HUD $ Spending Status Source: HUD

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

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 ARRA: Department of Energy

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,  $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.

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

HUD Appropriations ($ in Millions) HUD/ Treasury FY 09 Final FY 10 Request FY 10 House FY 10 Senate Fair Housing Initiatives Program (FHIP) Section 8 Tenant-Based Rental Assistance 16,81716,18916, ,339.2 HOME Housing Counseling CDBG ,6004,450 Formula funding ,992 Sustainable Communities -150 Regional Planning Grants -100 Metro Challenge Grants -40 HUD-DOT research -10 Rural Innovation Fund -25 University Community Fund -25

Agriculture Appropriations ($ in Millions) RHS/RUS ProgramsFY 09 Final FY 10 Budget FY 10 House FY 10 Senate 502 Single Family Direct ARRA Single Family Guaranteed ,000 ARRA Farm Labor Housing Loans Rural Rental Housing Farm Labor Housing Grants Self-Help TA Intermediary Re-lending

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

FY10 Budget Request: $3.6 Trillion Projected 2009 Deficit: $1.8 Trillion Source: Congressional Budget Office

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

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

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 Climate Change & Community Development

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