The Governor’s Office of Storm Recovery (GOSR) developed Affordable Rental Opportunity (ARO) to restore and replace affordable rental housing placed out of service by Superstorm Sandy, Hurricane Irene, or Tropical Storm Lee (Covered Storms). ARO offers property owners incentives and support to sustain the creation of affordable rental housing.
As of March 1, 2017, the NY Rising Affordable Rental Opportunity is closed. No new applications to the program will be accepted after this date.
December 31, 2017 - The Program will no longer consider demonstrable hardship requests to reactivate an application OR for extensions to Program deadlines— including those advertised in the FINAL NOTICE OF DEADLINES, as well as any others outlined in applicant-specific communication.
November 2017 - The NY Rising Housing Recovery Program has established comprehensive program deadlines for Housing applicants. The Program sent active applicants who have incomplete projects the FINAL NOTICE OF DEADLINES FOR YOUR FUNDING AND COMPLETION OF YOUR CONSTRUCTION PROJECT, which details Program deadlines and the resources that are available to retain funding, complete work and close out of the Program. If you are an active Program applicant, please review the notice sent to you, or refer to it via the link above.
March 2017 - The Affordable Rental Opportunity Program has closed and is no longer available to new applicants.
August 2016 - The Affordable Rental Opportunity Program opened to new applicants.
The Governor’s Office of Storm Recovery (GOSR) developed ARO to restore and replace affordable rental housing placed out of service by Superstorm Sandy, Hurricane Irene, or Tropical Storm Lee (Covered Storms). ARO offers property owners incentives to sustain the creation of affordable rental housing.
Governor Cuomo established GOSR to maximize the coordination of recovery and rebuilding efforts in storm-affected counties throughout the State of New York. GOSR operates within the New York State Housing Trust Fund Corporation (HTFC). HTFC is a component of New York State Homes and Community Renewal (HCR), a unified leadership platform, encompassing a variety of State agencies and public benefit corporations involved in the provision of housing and community renewal. GOSR was formed to direct the administration of the federal Community Development Block Grant - Disaster Recovery (CDBG-DR) funds.
Residential rental property owners who provide housing opportunities to low- and moderate- income (LMI) households.
ARO offers reimbursement assistance for eligible work completed prior to application to the program and offers repair and reconstruction for prospective work. ARO and the NY Rising Rental Properties program offer substantially similar property rehabilitation and resilience-related benefits. Once construction is completed and once leased to an LMI tenant, ARO offers an incentive for up to two years to cover compliance with the affordability requirement.
To participate in ARO you must commit to rent at an affordable rate to a tenant who earns less than 80% of the area’s median income once construction is complete. (As of March 2015, 80% of the median income was $75,700 for a family of four on Long Island.) An affordable rate is defined as no more than 30% of an eligible tenant’s income.