Bill > A05415

This bill establishes the "Home Repair Act," creating a comprehensive home repair program administered by the Division of Housing and Community Renewal to provide financial assistance for improving residential properties. The program will offer grants up to $50,000 per unit to homeowners with household incomes at or below 80% of the area median income, with priority given to residents in rural areas, people with disabilities, and families with young children. Similarly, small landlords (defined as those owning no more than five properties and fifteen rental units) can receive loans up to $50,000 for repairing affordable housing units, with potential loan forgiveness if they meet specific conditions such as extending tenant leases, limiting rent increases, maintaining property compliance, and maintaining ownership for at least 15 years. The program aims to address various housing issues, including making units habitable, free from health and safety hazards, more energy-efficient, and accessible to individuals with disabilities. The bill also establishes a dedicated Home Repair Fund to finance these efforts and requires the division to submit an annual report detailing the program's impact, including the number of units improved, funds invested, and demographic information about assisted households. The program will be implemented through coordination with state, local agencies, and non-profit organizations, with strict guidelines for fund usage and accountability.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A5415