Melpet Farm Residences, Affordable Net Zero Ready
General Finances
The financing plan includes the award of a 9% Low Income Housing Tax Credits (LIHTC) allocation of $6,440,773 and approximately $2,000,000 in state capital subsidy (AHT, HOME and HIF). Additionally, a $470,000 CPA award has already been granted to the project.
Total Cost of Project
$10,000,000
Construction hard cost
$7,000,000
Gross Cost of Renewable Energy System
$511,902
Cost per sq ft of conditioned space
$334.00
Value of Tax Credits for renewable energy systems
$153,570
Net Cost of renewable energy systems
$358,331
Cost breakdown information:
Savings and Revenue
Annual Electric Savings
$30,000
Annual Revenue from SRECs or other RE credits
$25,000
Rebates and Financial Incentives
Utility incentives
Massachusetts Residential New Construction Program: $28,000
General Finances
The financing plan includes the award of a 9% Low Income Housing Tax Credits (LIHTC) allocation of $6,440,773 and approximately $2,000,000 in state capital subsidy (AHT, HOME and HIF). Additionally, a $470,000 CPA award has already been granted to the project.
| Total Cost of Project | $10,000,000 |
|---|---|
| Construction hard cost | $7,000,000 |
| Gross Cost of Renewable Energy System | $511,902 |
| Cost per sq ft of conditioned space | $334.00 |
| Value of Tax Credits for renewable energy systems | $153,570 |
| Net Cost of renewable energy systems | $358,331 |
Cost breakdown information:
Savings and Revenue
| Annual Electric Savings | $30,000 |
|---|---|
| Annual Revenue from SRECs or other RE credits | $25,000 |
Rebates and Financial Incentives
| Utility incentives |
Massachusetts Residential New Construction Program: $28,000 |
|---|