#743 - Treasury Department to Plans to Award $13 Billion In Rental Aid to Avert Evictions

The Treasury Department said Tuesday it plans to award the remaining $13 billion in federal rental aid to states and localities that have been the most effective at delivering the assistance, in a new bid to speed up the housing rescue.

Houston, Philadelphia and New Orleans are among the cities expected to receive additional aid. State and local programs that have “substantially expended” their first round of funding and obligated at least 75 percent of their second round will be eligible for more money, Treasury said.

Congress authorized $46.5 billion in emergency rental assistance to keep tenants housed during the pandemic, but the program has been plagued by bottlenecks at the state and local level for months. Just over 10 percent of the total funding had been distributed to renters and landlords by the end of July. State and local governments have varied widely in their ability to quickly disburse the funds, with places like Texas far outpacing stragglers in South Carolina and New York.

Join your host Sean Reynolds, owner of Summit Properties NW, and Reynolds & Kline Appraisal as he takes a look at this developing topic.

https://www.msn.com/en-us/news/politics/treasury-to-release-more-rental-aid-to-avert-evictions/ar-AAOruWM

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