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Small Owner Repair Program

Program (?) Small Owner Repair Program
Abbreviation SORP
Program Description

HPD’s Small Owner Repair Program (SORP) provides funding for limited systems replacement and other repairs in privately-owned multi-family properties. Repair work funded through the program addresses specific critical issues, such as the replacement of faulty plumbing, as opposed to general rehabilitation. SORP provides 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 enter into a 10-year regulatory agreement with the city to ensure the financial viability, physical upkeep, and continued affordability of participating buildings.

Benefit Classification (?)  
Supply or Demand Supply
One-Time or Ongoing One-Time
Benefit Type (?) Financing, Grant
Government Agency (?) NYC Dept of Housing Preservation and Development
Program Information (?)  
Scale Small Scale (between 1 and 999 units produced)
Timeframe 2010-Present
Developer/Owners (?) For-Profit, Non-Profit
Property Information (?)  
Property Occupancy Occupied
Property Type Building
Building Type Multi-family
Construction Type Rehabilitation
Occupant Tenure (?) Rental
Occupant Income Restrictions (?) Low-Income
More Information Public Advocate of the City of New York
Available on CoreData.nyc? No

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