Pandemic aid now available for renters, landlords
Nick Reisman is reporting for State of Politics the tenants and landlords financially affected by the COVID-19 pandemic will have access to billions of dollars in aid from the state of New York under a program announced May 25, by Gov. Andrew M. Cuomo. The money includes $2.7 billion in emergency rental assistance for state residents who have demonstrated a financial impact due to the pandemic; applications will be accepted starting Tue., Jun. 1. The program, to be administered by the Office of Temporary and Disability Assistance, is expected to help between 170,000 and 200,000 households. The program will initially prioritize unemployed tenants as well as low-income households. Small businesses will also have access to $800 million in recovery funds. Those applications will be accepted beginning Thu., Jun. 10. Grants for that program will range from $5,000 to $50,000, based on annual gross receipts for 2019. New York lost an estimated 2 million jobs during the 2020 shutdown, which was imposed to limit the spread of the coronavirus. But the economy continues to struggle in returning to normal, with an unemployment rate in April of 8.2 percent, higher than the national average. During the past month, landlords and state lawmakers had urged the state to set up an assistance program amid the ongoing eviction moratorium and mounting financial pressure. Cuomo said, "This critical funding will help ensure New Yorkers who are experiencing financial hardship through no fault of their own will not be thrown onto the streets, while also providing stability for small businesses so they can help play a role in New York's economic resurgence." Read the full story at nystateofpolitics [dot] com.