NATIONAL UPDATES FOR HOUSING

On Friday, May 15th, the House passed the HEROES Act, their version of a Phase IV package, directed at aiding the COVID-19 pandemic response.

On Friday, March 27th, 2020, the President signed into law a $2 trillion coronavirus economic stimulus bill. For highlights, click here and see below:

 

  • This New York Times article answers questions about the $1,200 payments that taxpayers will be receiving, including how many payments there will be, how much individuals will actually receive, and when/how you’ll receive it.

  • The Washington Post has created a payment calculator so you can find out roughly how much you’ll be receiving from the federal government. Households with incomes above $75,000 per year will be receiving less than the full $1,200, while households with children under the age of 16 will be receiving additional funding per child.

 

If you are a qualifying individual or family that is unbanked - meaning the IRS does not have any bank account information on file from your last tax return - we recommend you visit the FDIC's resource page here. The Receiving IRS Economic Impact Payments page was developed by the FDIC to assist unbanked consumers to open a bank account online, so that they may receive their payments securely and timely. Learn more by watching this video. Without an insured bank account setup, unbanked consumers will have to wait for their check via mail, which can be lost or stolen.

 

To better understand how this bill impacts housing, please click here and see below for highlights regarding housing issues. For a comprehensive outline on the National Low Income Housing Coalition’s response to COVID-19 and Housing, please see here.

 

  • Impacts foreclosures and evictions for federally-backed mortgages 

  • $5 billion to Community Development Block Grants, which will be allocated to states and local governments under various criteria. HUD actions and state / grant allocations are here.

  • $4 billion in Emergency Solutions Grants to prevent outbreak among sheltered and unsheltered people experiencing homelessness and very low-income households

  • $1.25 billion to tenant-based rental assistance to support public housing agencies to be distributed based on need as determined by HUD secretary; an additional $1 billion to project-based rental assistance for maintaining normal operations and to take any necessary actions.

  • $685 million to the public housing operating fund.

  • $300 million to address tribal housing needs.

  • $65 million for HOPWA (Housing for Persons with AIDS)

  • $50 million for Section 202 Housing for the Elderly

  • $10 million for service coordinators

  • $15 million for Section 811 Housing for Persons with Disabilities

  • No funds were provided for USDA’s rural housing portfolio

 

Currently, official freezes in evictions and foreclosures only apply to federally-backed mortgages. 

There remains differing ideas of when another stimulus package should be rolled out with some voices asking for an infusion of resources in the immediate and countering voices stating that a re-opening of the economy would render aid unnecessary. Congress is scheduled to return May 4th.

See our Advocacy page for information on contacting your local representatives and share what supports are needed for you and your family as a result COVID-19. If you have time, please share with us the concerns you are facing here.

Chattanooga Neighborhood Enterprise

1500 Chestnut Street, Suite 102

Chattanooga, TN 37408

P 423.756.6201

F 423.756.3851

info@cneinc.org

Hours: M-F, 9 AM - 5 PM

  • Facebook
  • Instagram

© 2019 by Chattanooga Neighborhood Enterprise | Equal Housing Opportunity | NMLS#258489