Establishes the vacant rental improvement program to provide grants of up to $75,000 per unit to owners of buildings with five or fewer units.

The bill establishes the vacant rental improvement program to provide grants of up to $75,000 per unit to owners of buildings with five or fewer units. The grants are intended to make necessary improvements to rental units, with the condition that renovated units will be leased at a reasonable rate for ten years. The housing trust fund corporation will prioritize funding for units that are currently vacant or have outstanding code violations. The program aims to address the shortage of safe and affordable rental units in upstate New York.

Establishes the vacant rental improvement program to provide grants of up to $75,000 per unit to owners of buildings with five or fewer units.

The bill establishes the vacant rental improvement program to provide grants of up to $75,000 per unit to owners of buildings with five or fewer units. The grants are intended to make necessary improvements to rental units, with the condition that renovated units will be leased at a reasonable rate for ten years. The housing trust fund corporation will prioritize funding for units that are currently vacant or have outstanding code violations. The program aims to address the shortage of safe and affordable rental units in upstate New York.