RUPCO has been awarded $5 million through New York Stateโs Vacant Rental Program (VRP) to revitalize vacant and uninhabitable rental units across nine counties.ย
The VRP is an initiative designed to address the housing crisis by assisting small landlords with rehabilitating vacant properties. The program aims to revitalize up to 600 vacant apartments across the state, focusing on communities outside of New York City. The funds are being awarded through New York State Homes and Community Renewal.
Faith Moore, Senior VP of Housing Programs and Solutions at RUPCO, said money will serve to protect and support those in need of housing in the Hudson Valley. โThis $5 million award will allow us to bring much-needed housing units back online, ensuring they meet the highest standards of safety and quality while remaining affordable for decades to come.โย
This funding will transform 80 such units in Columbia, Dutchess, Greene, Orange, Putnam, Rockland, Ulster, Westchester, and Sullivan counties into safe, high-quality, and affordable homes for low- and moderate-income tenants, according to a news release.ย
Eligible improvements include health and safety upgrades, code violation corrections, accessibility modifications, environmental remediation, and general repairs to restore properties to habitable conditions.
The VRP provides grants of up to $50,000 per unit for repairs in properties serving tenants with household incomes up to 80 percent of the Area Median Income (AMI) and up to $75,000 per unit for tenants with incomes up to 60 percent AMI.
The application window for the program is expected to open in early 2025, according to RUPCO.
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