Latest news with #VacantRentalImprovementProgram
Yahoo
17-05-2025
- Business
- Yahoo
State funds available for vacant apartment renovations in Falls
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: For more information about the program, email VRP@ or call 716-852-3300.
Yahoo
21-03-2025
- Business
- Yahoo
Picente: More than 6,000 new homes needed by 2040
UTICA, NY (WUTR/WFXV/WPNY) — In a new report from Oneida County Executive Anthony Picente, over 6,000 new homes will be needed in the county by 2040. The County's Housing Inventory Assessment — which was commissioned by Picente in the summer of 2023 — aimed to address the needs of the county in housing options. The assessment was conducted by the Oneida County Department of Planning, along with UP Development Planning. The assessment included an online survey, which was presented on Thursday, March 13 at the MVCC ThINCubator in Utica. Highlights of the report include the following: a total of 6,070 new housing units will need to be created by 2040 to meet market demand. A majority of those homes will be required in the next five years. Senior housing should account for nearly half of new construction. Included in those 6,070 new housing units are 2,240 new homes for younger homeowners, supported by employment-driven housing demands. 16 percent of all homeowners and 39% of all renters spend more than 30 percent of their income on housing. For 78% of renters earning less than 30 percent of the area's median income, over 50% of their income goes towards housing. The report also lays out five goals, 13 strategies and 34 potential steps to take for the county. Those steps include: PILOTs, infrastructure coordination and technical support for pro-housing municipalities. Innovative examples of financing such as density bonuses and reduced regulations and fees, as well as the elimination of parking requirements and infill investment programs. Assisting seniors through handyman and aging gracefully programs. Stabilizing current housing stock through vacant property and lot inventories, housing trust funds, landbanks and creation of NYS-backed programs such as the Vacant Rental Improvement Program and home improvement programs. 'The findings of this report confirm what we've long recognized—Oneida County is growing, and we must take strategic action to meet the housing needs of our residents now and in the future,' Picente said in a statement. 'This comprehensive assessment provides a roadmap for ensuring that we have the right mix of housing to support our workforce, our seniors, and our families. By working together with developers, municipalities, and community stakeholders, we can implement innovative solutions that will enhance affordability, stability, and opportunity across our county.' You can check out the full report online at the link here. A full story map of the process can be found at the link here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
18-02-2025
- Business
- Yahoo
City of Elmira announces new Vacant Rental Improvement Program
ELMIRA, N.Y. (WETM) – The City of Elmira's Department of Community Development has launched its new Vacant Rental Improvement Program (VRP), which aims to help owners of rental properties create safe, quality and affordable long-term rental units. VRP is a grant program that is funded by the State of New York and the Housing Trust Fund Corporation's Office of Community Renewal. Through this program, rental property owners will have the opportunity to receive support for repairs and rehabilitation of vacant rental units and other vacant spaces. Long-time banquet hall up for sale in Elmira The program has been put in place to increase the supply of apartments for low- and moderate-income renters outside of New York City, which at this time poses a crucial need. Rental property owners who are interested in applying for the program may do so by filling out a VRP application and providing the necessary documents for consideration by March 28, 2025, before 4:30 p.m. All applications must be submitted as hard copies and dropped off at the Community Development office on the third floor of the City Hall building on 317 East Church Street in Elmira. Each application will be reviewed competitively, and applicants will receive a notice of approval or denial before April 25, 2025. Southern Tier consumers face rock salt shortage If you are an owner of a rental property and are wondering whether you are eligible or not for the program, you can find a complete list of criteria that must be met for program approval on the City of Elmira website. Policies and procedures for the program may also be found on this page. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
