• Agency: NYS Homes and Community Renewal (NYS HCR)
• Status: Currently Available

The Major Capital Improvement (MCI) program provides incentives for landlords to improve rent-regulated property conditions by allowing an increase in rents for rent-stabilized or rent-controlled units based on eligible construction costs. Landlords who receive MCI increases may also apply for J-51 abatements and exemptions for the same improvements. Owners are able to increase the tenant’s rent based on a certain percentage of cost for work performed in apartments and common areas; however, rent increases may not exceed two percent annually.