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New York State has allocated $5 million to rehabilitate 80 vacant housing units across the Hudson Valley. The funding, awarded to the Rural Ulster Preservation Company (RUPCO), is part of the state's Vacant Rental Program. The initiative aims to transform uninhabitable units into safe and affordable homes for low- and moderate-income tenants in Columbia, Dutchess, Greene, Orange, Putnam, Rockland, Ulster, Westchester, and Sullivan counties.
Each unit will receive up to $50,000 for repairs if rented to tenants with household incomes up to 80% of the Area Median Income (AMI), and up to $75,000 for those with incomes up to 60% AMI. The program focuses on communities outside New York City and targets the rehabilitation of up to 600 vacant apartments statewide.
RUPCO's Senior VP of Housing Programs and Solutions, Faith Moore, expressed the organization's commitment to expanding affordable housing access. Moore stated, "This $5 million award will enable 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."
The application window for the program is expected to open in early 2025. Eligible properties include residential buildings with one to five units and mixed-use buildings with up to five housing units. The program also allows for improvements such as health and safety upgrades, code violation corrections, and accessibility modifications.
The Vacant Rental Program is part of New York's 2025 Budget, designed to assist small-scale landlords in revitalizing vacant properties. RUPCO, based in Kingston, New York, has been a key player in creating and maintaining affordable housing in the region.