TICONDEROGA, N.Y. (WCAX) – Millions of dollars in state funding are on the way to areas across New York State like Ticonderoga to help transform old buildings and create new housing.
Ticonderoga’s town supervisor Mark Wright says they need longer-term rentals after short-term housing has flooded the market.
“We have a lot of short-term rentals around here but again, short term but there is a big demand for apartments and not a lot to supply that demand right now,” said Wright.
Lawmakers in the Empire State responded to the demand this year, allocating millions in the budget for the vacant rental property improvement program or VRIP.
Nicole Justice Green with the Essex County Land Bank, says the program sets aside $50 to $75 thousand per unit, up to five units per property owner for renovations.
“The key to this grant is it has to have been vacant. We want to take units that are not available and increase the unit count of rental units across the county,” said Green.
Green says the nonprofit will administer the funds in Essex County, aiming to renovate roughly 20 rental units.
“We will do a full inspection scope, work with code enforcement, and then essentially determine the award amount based on the upgrades and renovations that are required,” said Green.
She says 51 property owners have pre-applied across the county so far.
One of those applicants is Katie Andersen, owner of 113 Montcalm Street, a restaurant and museum in downtown Ticonderoga. She says the grant would help businesses like hers during down times of the year.
“You are in survival mode and you do not know if you are going to make ends meet as a small business. So, the apartments would really give more stability and consistency,” said Andersen.
She also says the grant funding would help others find local housing options.
“It is hard to find stuff in Ticonderoga that is not even centrally here in Ti, but affordable,” said Andersen.
Green says her nonprofit will apply for roughly 2 million dollars in VRIP funding this fall.