TALLAHASSEE, Fla. – With Florida’s eviction moratorium set to expire in a matter of days, the state has announced a new initiative to provide millions of dollars in rental and mortgage assistance for residents who’ve lost their jobs as a result of the coronavirus pandemic.
Of the $250 million, $120 million will go to the Florida Housing Finance Corporation, another $120 will be distributed to counties and the remaining $10 million will cover operational costs.
“Many families across our state have been negatively impacted by COVID-19 through no fault of their own,” Gov. Ron DeSantis said in a news release. “This initiative strives to provide financial assistance through multiple affordable housing programs to ensure these Floridians receive the support they need during this difficult time.”
FHFC will distribute the $120 million it receives to multifamily affordable housing rental properties in its portfolio to help eligible households pay their rent during qualifying months from July through December. If needed, households can apply to help cover back rent accrued during the months of April, May and June.
“Florida Housing is grateful for the governor’s strong support of housing and the programs proposed to give renters and homeowners impacted by COVID-19 the relief they desperately need,” FHFC executive director Trey Price said in a news release. “The governor and Florida Housing stand together in guaranteeing Florida households stay a priority, and ensuring families have the necessary assistance and tools in place to remain in their homes affordably during this public health emergency.”
The other $120 million will be given to Florida counties based on the reemployment assistance rate.
“These funds would be used for rental and homeowner assistance programs such as new construction, rehabilitation, mortgage buydowns, down payment and closing cost assistance, emergency repairs and homeownership counseling for individuals impacted by COVID-19. The allocation also includes $200,000 for technical assistance to local governments,” a news release read.
No timeline was given on when the money will be available.
State officials plan to release more details as they become available at FloridaHousing.org.