HPD’s Small Owner Repair Program provides funding for limited systems
replacement and other key repairs in privately-owned multiple dwelling
properties. Since participating owners often lack the resources to address
building-wide problems, repair work done through the program addresses specific
critical issues rather than general rehabilitation. The program provides a
10-year forgivable loan up to $10,000 per dwelling unit for buildings of three
to 20 units. In exchange for this forgivable loan, owners will enter into
a 10-year regulatory agreement with the City to ensure the financial viability,
physical upkeep, and continued affordability of participating buildings. Tenant
incomes must adhere to Federal income guidelines and rent limits apply.
For more information about eligibility and terms, please download the SORP
Term Sheet click
here or contact Elizabeth Mercado, Program Director, at the number
Phone Number: (212) 863-6337.