U.S. Treasury reallocates $690 mln in rental assistance funds

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WASHINGTON, Jan 24 (Reuters) – The U.S. Treasury Department said on Tuesday it had given $690 million in unused and reallocated funds to 89 state and local grantees to assist tenants facing financial difficulties as the pandemic-era housing assistance program ends.

The funds, part of the $46 billion Emergency Rental Assistance Program created during the last year of the Trump administration and expanded during the first year of the Biden administration, will be transferred from communities that have not have used their allocations for those who have shown that they are continuing. needs and that have reached the reference points of expenditure in their previous allocations.

To date, the Treasury said it has now reallocated more than $3.5 billion in otherwise unused rental assistance funds, deploying those funds to other jurisdictions with greater needs and often to communities of color

The rental assistance program is credited with preventing millions of evictions during the COVID-19 pandemic, but its funds are nearly exhausted.

“Today’s announcement reflects a concerted effort to reallocate funds to programs that have shown particular success in deploying rental assistance and will help put more funds into the hands of families facing urgent need, ” US Deputy Treasury Secretary Wally Adeyemo said in a statement.

The Treasury said communities that received additional funds included Jefferson County, Alabama, Hillsborough County, Florida, Franklin County, Ohio, and Montgomery County, Pennsylvania. Treasury cited the creation of strong eviction prevention partnerships with courts and non-profit groups, as well as effective outreach to needy tenants and landlords in these communities. . (Reporting by David Lawder; Editing by Daniel Wallis)

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