New York State Homes and Community Renewal today announced $16.2 million has been awarded to 11 non-profits and local governments across the Finger Lakes, Mid-Hudson, Mohawk Valley, North Country, and Western New York regions to transform vacant and uninhabitable apartments into 230 safe and affordable homes. The funding was made available through the Vacant Rental Program, which Governor Kathy Hochul announced as part of the FY25 Enacted Budget to help transform buildings with up to five vacant and distressed rental units into viable affordable housing for low- and moderate-income tenants in communities outside of New York City. Today's announcement builds on the inaugural round of awards in 2024, in which $40 million was provided to 18 non-profit and government entities that are in the process of creating more than 600 affordable homes.

"The Vacant Rental Program has invested more than $56 million to put distressed properties back into the affordable housing market while giving more individuals and families across the state a safe, modern place to call home," Governor Hochul said. "We need to attack the housing crisis from every angle and giving small property owners the extra help they need to make it happen has been an integral part of the puzzle."

HCR administers the VRP program and selected the 11 awardees through a competitive Request for Proposals.

The awardees are:

• Better Community Neighborhoods, Inc. - City of Amsterdam
• Clayton Improvement Association - Jefferson County
• Franklin County Community Housing Council, Inc. - St. Lawrence County
• M-ARK Project, Inc. - Delaware County
• Neighbors of Watertown, Inc. - City of Watertown
• Otsego Rural Housing Assistance, Inc. - Otsego County
• Steuben Churchpeople Against Poverty DBA Arbor Housing and Development - Schuyler, Steuben, and Chemung counties
• Utica Neighborhood Housing Service Inc. - Oneida County
• The city of Auburn as well as Genesee and Livingston counties.

The VRP program offers up to $50,000 in subsidy to property owners that provide apartments to households with an income limit of 80 percent of the Area Median Income, and up to $75,000 for apartments with a household income limit of 60 percent of the Area Median Income. The apartments can be in a residential property or part of a mixed-use building.

Eligible expenses include health and safety upgrades, resolving code violations, accessibility enhancements, environmental remediation, and general repairs that will restore units to habitable conditions.

Grant monies are first available to local governments and non-profit organizations, with maximum individual amounts of $2.5 million per entity. Property owners then apply to the local program administrators for grants.

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, "Thanks to Governor Hochul, we have developed creative ways to increase New York's affordable housing supply while refurbishing distressed properties. The need for affordable housing exists across New York, and the Vacant Rental Program is helping create more than 830 new affordable homes for individuals and families that otherwise might not have happened. Thank you to participating non-profits and local governments, as well as small property owners, who are essential partners in our mission to provide safe, stable affordable housing right in residents' own communities."

The current application window for a third round of the Vacant Rental Program closes January 15th or when available funds are exhausted. For more information, go to https://hcr.ny.gov/vrp.

Governor Hochul's Housing Agenda
Governor Hochul is dedicated to addressing New York's housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York's housing supply through new tax incentives, capital funding, and new protections for renters and homeowners. Building on this commitment, the FY26 Enacted Budget includes more than $1.5 billion in new State funding for housing, a Housing Access Voucher pilot program, and new policies to improve affordability for tenants and homebuyers. These measures complement the Governor's five-year, $25 billion Housing Plan, included in the FY23 Enacted Budget, to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. Nearly 70,000 have been created or preserved to date.

The FY25 and FY26 Enacted Budgets also strengthened the Governor's Pro-Housing Community Program - which allows certified localities exclusive access to up to $750 million in discretionary State funding. Currently, more than 380 communities have received Pro-Housing certification.