From: Allegany County Community Opportunities and Rural Development, Inc.
Are you a landlord with a vacant
property in Allegany County?
Belmont, NY – July 23, 2024 – ACCORD is preparing an
application for the New York State’s Vacant Rental Improvement Program
(“V-RIP”) and would like to hear from interested landlords in Allegany County.
The V-RIP program is funded by the State of New
York and aims to help
owners of rental properties bring vacant units and spaces in small-scale
properties back into productive use to create safe, quality, and affordable
long-term rental units for low- and moderate-income renters outside of New York
City.
Eligible Activities: Funding
may be used to improve and rehabilitate vacant housing units and other vacant
spaces, including commercial spaces, that are currently uninhabitable or
unmarketable into safe, quality, and affordable rental units. These repairs and
improvements may include health and safety improvements, correction of
code violations and/or updating spaces to meet residential standards,
accessibility modifications, environmental remediation, and other repairs
determined by the local program administrator as necessary to rehabilitate
vacant units.
Ownership: Applicant
must be the legal owner of one of the following: 1-5 unit residential property,
mixed-use building with up to five (5) housing units, or other building that
will be converted to one of the above.
Prioritization will be given to small, local, and
responsible owners. Only vacant units are eligible for assistance.
Compliance Period: A
10-year Regulatory Period will be required during which the owner must be
willing to execute an agreement and rental covenant on assisted units that will
subject units to rent limits and other requirements.
Funding: Standard
V-RIP, $50,000 per unit and tenant household income must be 80% of the Area
Median Income or lower. Enhanced V-RIP, $75,000 per unit and tenant household
income must be 60% of the Area Median Income or lower.
Interested
Landlords: To bring this resource to Allegany
County we need landlords to complete the survey to show we have a need. If
interested, please complete the below survey.
https://forms.office.com/r/12ksihWE4e
The application is due in October and awards will
be announced around the end of the year. If funded, we will be complete a more
detailed application.
For more information, please contact Jeff Stager at 585-268-7605 x1125 or jstager@accordcorp.org
