NYCEEC provided interest-free Green Predevelopment Loan funding to St. Francis Friends of the Poor, Inc. (STFFP), a New York-based 501(c)(3) nonprofit that provides affordable and permanent supportive housing for chronically homeless individuals with serious mental illness. STFFP provides a range of valuable services, from low-barrier housing to on-site medical care, subsidized meals, art programs, and more.

The zero-interest Green Predevelopment Loan is offered through NYCEEC’s partnership with NYSERDA to provide no- and low-interest capital for predevelopment expenses to small affordable housing projects across New York State.

The loan funded STFFP to obtain integrated physical needs assessments (IPNA) and architectural and engineering services to rehabilitate their 3 residential buildings. As a result, the organization will be able to pursue deep energy efficiency and electrification measures across the 3 buildings, including LED lighting upgrades, energy efficient window installation, electrification of hot water heating using heat pumps, and weatherproofing measures. In addition, the organization will pursue full electrification of 1 building, where the oil heating boiler would be removed and replaced with a VRF system.