Treasury to send $1B in rental aid funds to high-demand states, cities

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Treasury to send $1B in rental aid funds to high-demand states, cities
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California, New Jersey, New York and DC will each receive tens of millions of dollars in rental aid pulled from governments with low disbursement rates

Numerous cities, towns and tribes will also receive additional money as Treasury reallocates unspent funds from the first $25 billion pot of the $46.5 billion rental relief program authorized by Congress to keep people housed during Covid-19.between aid programs within the same states. The department did not release details on states and cities that lost money involuntarily.

As of Nov. 30, state and local governments had spent $17.4 billion of the $46.5 billion in aid, accounting for a little more than 37 percent of the funds.that the amount of new funding requested by states and cities was far greater than what was available to distribute. New York is set to receive just $27 million in new funding after requesting $996 million. It had used about $1.1 billion in federal money as of Nov. 30.

California’s state program, which had spent all of its $1.5 billion first-round allocation as of Nov. 30, will get a little over $50 million in reallocated funds.Georgia, Nebraska and Louisiana voluntarily transferred unspent funds to local programs within their borders, as did several other states.

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