Authorities in Miami (FL) on Thursday, July 23, approved an assistance of $1.6 million for tenants, homeowners and taxpayers of the mortgage loans that suffered because of the pandemic, COVID-19. This writes the Miami Herald.
Most of the money, $1.3 million, will go to the program help for mortgage loans to help homeowners with low and middle incomes who lost their jobs. Of this total, $131 000 to Finance the management program and $1.1 million will be distributed among people in the form of grants of up to $6 000 per person. Money help on mortgages comes from the Federal law CARES.
The government also approved assistance in the amount of $300,000 for tenants. Tenants with low income who lost their jobs in the context of a pandemic, and faced with the threat of eviction may qualify for assistance of up to $3 500.
Program for the prevention of eviction directed funds from the program in 2016, was created to help residents of the West grove area for blacks where residents were displaced by gentrification. The money remained unspent because of a limitation which allowed the tenants of West grove receive grants only if they have moved somewhere outside of Miami.
Commissioner Ken Russell offered to take the money from this program, which is not used for several years.
“I asked if we could use the money now for the crisis that we’re in,” said Russell.
He was the author of both bills on financial assistance, which were unanimously adopted at a meeting of city Council on Thursday, July 23. It is expected that the programs will be launched in the coming weeks, and the deadline for applications will be announced later.
It is expected that the demand for both programs will be high. In may, the city used more than $3 million in Federal housing funds to distribute loans and grants between the owners and tenants of business.
Russell said that the authorities should allocate more funds for such programs as the economic consequences of the pandemic is delayed and a moratorium on the eviction will eventually be removed.
“We need that help from the state government and the Federal government, so we can make our community unified,” said Russell.