NEW YORK — On Thursday, New York City Mayor Eric Adams announced Unlocking the doorsa new program that will invest up to $10 million to renovate struggling rent-stabilized housing, then connect homeless New Yorkers to access those housing units.

Through this pilot program, the City will provide up to $25,000 for necessary repairs to each of the 400 rent-stabilized homes that are currently vacant and not available for rent. The city will then match the rehabilitated apartments to the homes with City Homelessness and Eviction Prevention Supplement (CityFHEPS) vouchers for their use.

“Our administration is ‘opening doors’ and giving New Yorkers the key not only to a new home, but also to a better, safer and more prosperous future,” Mayor Adams said. “Since we launched ‘Housing Our Neighbors’ last year, providing New Yorkers with safe, affordable, high-quality housing has been this administration’s guideline. And with this innovative program, we’re doing just that while addressing two major challenges at the same time: adding much-needed affordable housing supply to the market and connecting some of the lowest-income New Yorkers living in shelters with quality housing. high quality. housing, permanent housing.

As the city faces a severe housing shortage, “Unlocking the doors“builds on the flagship initiatives of the plan”Accommodate our neighborsby Mayor Adams as he focuses on identifying creative ways to add new housing to New York City. The shortage of available apartments is particularly acute in the most affordable housing, with less than 1% of apartments with asking rents below $1,500 available.

Through this pilot program, which will begin accepting applications this summer, the City will target the small number of rent-stabilized apartments that have been chronically vacant and need major repairs to become safe and livable. The program will incentivize landlords of ultra-low-rent apartments to make repairs, ensure the apartment is safe to occupy, and then rent it to a homeless New Yorker with a CityFHEPS voucher.

New Yorkers moving into the renovated units will receive a two-year lease at the existing stabilized monthly rent. They can then use their CityFHEPS coupon to pay up to one-third of their income for rent, with the city paying the remaining balance.

“En medio de esta crisis de vivienda, debemos desbloquear todas las oportunidades para crear viviendas seguras, de calidad y asequibles”, dijo el comisionado del Departamento de Preservación y Desarrollo de Vivienda (HPD) de la Ciudad de Nueva York, Adolfo Carrión Jr. “Through ‘Unlocking the doors‘, we are sprucing up and preparing urgently needed rent-stabilized, move-in-ready apartments for those who need them most desperately, so we can provide life-changing stability and security to 400 homeless households.

Landlords applying to join the pilot program will need to show that their apartment is chronically vacant and has been registered with New York State Homes and Communities Renewal (NYS HCR) as continuously vacant, that the rent for the apartment does not exceed the price program specific. rent thresholds, and that they will sign a rent stabilization agreement with the holder of the CityFHEPS check.

While the exact eligibility criteria, including affordability levels, will be determined by regulation, this pilot program will prioritize units with the lowest stabilized rents, around $1,200 per month for an apartment. ‘room. Upon completion of repairs, HPD will confirm that the building and apartment meet CityFHEPS Housing Quality Standards, and the New York City Human Resources Administration will reimburse owners for eligible repair expenses up to $25. $000 per unit after an eligible New Yorker with a CityFHEPS voucher moves out. In.

“Solving the city’s housing crisis will require a comprehensive toolkit that includes policies to increase production and meet the needs of vulnerable tenants,” said James Whelan, chairman of the New York Real Estate Board. “We commend Mayor Adams and his administration for coming up with creative solutions that seek to address the need to renovate and maintain much-needed housing for voucher holders.”

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