The New York City Department of Housing Preservation and Development’s (HPD) Small Owner Repair Program (SORP) provided funding for limited systems replacement and other repairs in privately-owned multi-family properties. Repair work funded through the program addressed specific critical issues, such as the replacement of faulty plumbing, as opposed to general rehabilitation. SORP provided a 10-year forgivable loan of up to $10,000 per dwelling unit for buildings of four to 20 units. In exchange for the loan, owners entered into a 10-year regulatory agreement with the City to ensure the financial viability, physical upkeep, and continued affordability of participating buildings.