State funds available for vacant apartment renovations in Falls

Yahoo

17-05-2025

A local preservation group has state funds available to assist in the repair and renovation of vacant apartments in the City of Niagara Falls.
Preservation Buffalo Niagara is welcoming applications for the Vacant Rental Improvement Program, which offers grant assistance to the owners of residential and mixed-use properties in the Falls with five or fewer units.
Through the program, the preservation group is hoping to help address one of the city's longest-standing and most noticeable problems — vacant and uninhabitable structures.
Funds for the program were acquired through the New York State Office of Community Renewal by Preservation Buffalo Niagara, which serves as administrator for the grants.
'We have a deep commitment to try to help work in historic preservation in both Niagara Falls and Buffalo,' said Preservation Buffalo Niagara Executive Director Bernice Radle. 'We wanted to apply for state funding if we could to bring some help to Niagara Falls to help with the vacancy issues that are so rampant there.'
The Vacant Rental Program gives priority to rental properties in the 14301 and 14305 zip codes in the city, however, all apartment property owners in the Falls are encouraged to apply. Under the program, grant funding of up to $50,000 is available for completed units serving tenants under 80% of the area's median income. Up to $75,000 is available for units to be rented to tenants under 60% median income.
Units must currently be uninhabitable, meaning no displacement of current tenants is permitted. Grant funding will be made available on a reimbursable basis and property owners must produce a unit that can be occupied. There is no income eligibility requirement, however, applicants must own buildings involved in the program and be current on all taxes.
There is no requirement that the owner live in the building, but there is priority for local owners, especially those who live in the Falls.
To secure funding, applicants must also agree to rent their units at the affordable rent rate — 60% to 80% of the average median income — for 10 years.
A lien will be filed with the county clerk and Preservation Buffalo Niagara will monitor compliance. A maximum of five units may be funded and the building must also be five units or less. Preservation Buffalo Niagara will provide the maximum rents that can be charged at the time of closing with the property owner.
The deadline for submitting the initial intake application to be considered for participation in the program is 5 p.m. on Tuesday.
Radle said Preservation Buffalo Niagara plans to support the rehabilitation of 10 vacant apartments during the current round of funding. She said her organization expects another round of funding will be available in mid-August.
'If they don't have something now, they can apply later, but I am anticipating a lot of people applying, so it's important to get an application in if they haven't done so already,' Radle said. 'We're excited to do this and really help the city.'
Application intake forms can be obtained by visiting:https://docs.google.com/forms/d/e/1FAIpQLSfGkzROu1jWfK390Uw3sgrHfIWI1L2K3jGJsRyUCbwmHcr5wQ/viewform.
For more information about the program, email [e-mail] or call 716-852-3300.