Transmitting Communication from Louis A. DePasquale, City Manager, relative to a recommendation of the Community Preservation Act Committee (CPAC) for an allocation of $1,000,000 from the CPA Fund Balance to the Community Preservation Act Fund COVID-19 Housing Stabilization Program

COVID-19 Housing Stabilization Program Request for CPA Funds Use of Funds Summary June 10, 2020 An allocation of $1million is requested from CPA funds to establish the COVID-19 Housing Stabilization Program. If approved, these funds will be combined with other resources, including Community Development Block Grant (CDBG) funds, to provide short term financial assistance to individuals and families who are experiencing financial instability due to the COVID-19 crisis and as a result may be at risk of losing their home because they are unable to pay rent. This program is the second phase of City efforts to dedicate resources to housing assistance in response to the COVID-19 crisis, continuing certain housing assistance supports allocated through the Mayor’s Disaster Relief Fund, and will be administered jointly by the City Manager’s Office through the Office of the Housing Liaison, the Department of Human Services Programs (DHSP) through the Multi-Service Center (MSC) and the Community Development Department’s (CDD) Housing Division. The program will subsidize households whose incomes are at or below 80% of Area Median Income (AMI) and whose rent is more than 40% of their income at the time of application, and reduce their housing costs to 40% of their current income. Funds will be disbursed in the form of a two-month rental subsidy. Subject to funding availability, the program could be extended beyond two months, but will remain a temporary program responding to the COVID-19 crisis. In City Council June 22, 2020. Adopted by a yea and nay vote:- Yeas 9; Nays 0; Absent 0. Attest:- Anthony I. Wilson, City Clerk A true copy; ATTEST:- Anthony I. Wilson City Clerk