Title
Funds for Rental and Housing Stability Assistance
Action
Action:
A. Adopt a budget ordinance appropriating $3,836,054.57 from the Emergency Rental Assistance program provided by the Consolidated Appropriations Act of 2021 in the General COVID-19 Assistance Fund, and
B. Authorize the City Manager, or his designee, to negotiate, execute, amend, and renew any documents necessary related to the program.
Body
Staff Resource(s):
Shawn Heath, Housing and Neighborhood Services
Explanation
* The Emergency Rental Assistance (ERA) program provided by the Consolidated Appropriations Act of 2021 makes funding available to state and local governments to assist households that are unable to pay rent or utilities.
* Eligible uses of ERA funds include financial assistance for payment of rent and utilities on behalf of eligible households, housing stability services, and administrative expenses. The city utilized previous ERA awards to fund the RAMP CLT program administered by DreamKey Partners.
* The Consolidated Appropriations Act of 2021 requires the recapture of excess funds not obligated by municipalities and other grantees for eligible ERA purposes, and reallocates those funds to grantees, such as the city, that have obligated their initial ERA allocation.
* Through the reallocation process, Treasury has awarded the city three new allocations of ERA funding totaling $3,836,054.57.
* This funding will be used to continue anti-displacement efforts throughout the city's geography with an emphasis on households facing eviction or at risk of homelessness.
Background
* On February 8, 2021, City Council appropriated $26,714,160 in Emergency Rental and Utility Assistance funding (ERA1) provided in the FY 2021 Consolidated Appropriations Act.
* On August 9, 2021, City Council appropriated $28,841,640.10 in Emergency Rental and Utility Assistance funding (ERA2) provided in the American Rescue Plan Act of 2021.
Fiscal Note
Funding: General COVID-19 Assistance Fund
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