Preserving Affordable Rental Housing in a Biden Administration
CIC recently provided housing policy recommendations to President-Elect Biden’s HUD Transition Team on preserving affordable rental housing throughout the country. The recommendations focus on the need for rental assistance, support for NOAH owners and buildings, and incentivizing local policies to drive investment.
President-Elect Biden’s HUD Transition Team is led by Erika Poethig, homegrown in Chicago, and architect of The Preservation Compact.
Read moreCOVID-19 Supplemental Payments for HUD Properties
HUD’s Office of Multifamily Housing has published a Housing Notice opening a second application period for owners of multifamily assisted properties to apply for CARES Act funds to offset property expenses to safely serve residents during the pandemic.
The notice allows owners to submit payment requests for expenses incurred through November 30, 2020. Requests are due to HUD or the Contract Administrator by December […]
Read moreCity of Chicago Emergency Relief for Affordable Multifamily Properties (ERAMP) Program
The Department of Housing ERAMP program provides short-term operating support to multifamily affordable housing providers affected by the COVID-19 pandemic.
The ERAMP program can serve both government assisted and unsubsidized properties by providing grants and no-interest, deferred payment loans of up to $75,000 per property for eligible operating shortfalls and added COVID-related expenses.
Learn more about eligibility and the online application process
Read moreDeep Dive: Safe and Healthy Buildings
Reducing COVID-19 Risks in Multifamily Buildings
How do I protect tenants and staff members?The City of Chicago recommends that multifamily property owners:
Require staff and tenants to wear face coverings in common areas (unless they cannot safely covering their face). Limit gatherings of residents to less than 50 people in common areas. Clean high-touch areas more frequently and provide hand sanitizer, tissues, and cleaning products in […]
Read moreWhat You Need to Know About Unemployment Insurance and COVID-19
At The Preservation Compact, our bread and butter is preserving affordable rental housing, especially the naturally occurring stock. Today the most profound preservation need is to stabilize tenants affected by job loss.
Nationally, more than 40 million people have lost their jobs since mid-March, including nearly 1.2 million in Illinois. Analysis by the Institute for Housing Studies at DePaul University shows that […]
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