Gov. John Bel Edwards today announced the launch of what will be at least a $24 million emergency rental assistance program for renters experiencing financial hardship as a result of the coronavirus pandemic.
Administered and funded by the Louisiana Housing Corporation in partnership with the Louisiana Office of Community Development, the Louisiana Emergency Rental Assistance Program is designed to help households financially impacted as a result of shutdowns, closures, layoffs, reduced work hours or unpaid leave.
The first phase of the program is funded with $7 million from the HOME Investment Partnerships Program that is currently available, and the next phases will be funded by $5 million in Community Development Block Grant funds and $12 million in Emergency Solutions Grant funds through the CARES Act. All the funding is provided to the state from the U.S. Department of Housing and Urban Development.
“This program provides much-needed assistance to households across our state who have been greatly affected by the COVID-19 pandemic,” Edwards says. “Workers and families are the foundation of our communities and by coming together to address their needs, we ensure the continued health and well-being of Louisiana’s children and families.”
This program will also provide financial assistance to Louisiana renters who are not current on their rent and/or at imminent risk of eviction due to COVID-19. Monthly emergency rental payments will be paid according to the amount on the lease agreement, not to exceed the fair market rents for a designated area. The payment amount is dependent upon income, household size and fair market rent prices.
