D.C. Mayor Muriel Bowser announced this week a new $10 million investment in Housing Stabilization Grants in support of the District’s affordable and small housing providers.
The grants will cover rent arrears during the coronavirus pandemic and stabilize properties that may be heading toward distress, the mayor’s office said.
“This pandemic has forced an unprecedented and disproportionate financial burden on our low-income renters, through no fault of their own,” Bowser said in an issued statement. “By allowing housing providers to apply for assistance on behalf of tenants we can provide swifter relief [as] the Housing Stabilization Grants will help us protect our affordable housing stock and keep residents in their homes.”
The grants, which will cover rent arrears accrued from April 1 through Nov. 30, will be paid by the District to housing providers in an 80/20 split, with the District contributing 80% of the rent, up to $2,000 in assistance, and the landlord forgiving the rest.
At-Large Council member Anita Bonds called the program “a great step in providing needed funding.”
“As a holistic approach to help keep the lights on these desirable affordable units and to restore the trust between tenant and landlord, this program, combined with other measures such as the continued eviction moratorium, shows the commitment of the Mayor and the Council working together to bring relief to our tenants,” Bonds said.
The submission period for applications, which will be assessed on a rolling basis, ends Dec. 11.