Governor Kathy Hochul today announced $50 million in grant awards through the Targeted Housing Investment Program to fund critical repairs for homeowners in ten communities across New York State. The program will support communities with high rates of homeownership owned by households of color and where there are also significant indicators of housing distress. Through a new state pilot program, nearly 1,400 low- and moderate-income homeowners will receive assistance to remedy health, safety, accessibility and code compliance issues that will enable them to remain living in their homes safely and affordably.
“This one-of-a-kind program is helping to address longstanding inequities with funding to support nearly 1,400 New York households and protect their most sacred investments: their homes,” Governor Hochul said. “Addressing the housing crisis means ensuring that all New Yorkers can afford to live in a safe, stable home, and after the success of our Buffalo program, the Targeted Housing Improvement Program will help homeowners across our state build equity, fund critical repairs and create stronger, more resilient communities.”
Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “The success of the Buffalo East Homeowner Improvement Program has demonstrated how targeted State investments can immediately help New Yorkers while also creating positive change in our communities. We believe this latest $50 million in grant funding, which will support homeowners in making critical repairs that impact health, safety, accessibility, and code compliance issues, is another step in the right direction when it comes to reversing the effects of racially-based housing discrimination and the legacy of redlining that prevented communities of color from building generational wealth through their homes. Thank you to our local partners for their dedication to serving their communities and to Governor Hochul for her commitment to using every tool available to preserve housing and promote equity across New York.”
The grants – administered by New York State Homes and Community Renewal’s Office of Community Renewal – are the first awards under the Targeted Home Improvement Program. The program builds upon HCR’s Buffalo East Homeowner Improvement Program by expanding coverage to nine additional communities. The grants were awarded by HCR to local nonprofit organizations, and/or units of local government with experience providing relevant services to their community for at least one year prior to application. A summary of awards is available here.
As part of the FY 2024 Budget, Governor Hochul secured $50 million for the Targeted Home Improvement Program to finance home repairs in 10 communities across the state that have been identified as having high levels of low-income homeowners of color and homeowner distress.