New Jersey Announces $25 Million Grant Program For Small Property Landlords To Forgive Back Rent
TRENTON, N.J. (CBSNewYork) - New Jersey is taking steps to help low-income renters and small property landlords facing hardships due to the coronavirus pandemic.
Gov. Phil Murphy announced the State Housing and Mortgage Finance Agency is starting an emergency grant program with $25 million from the federal CARES Act.
"[This program] will provide emergency grant funding to the owners of small, rental apartment buildings of between three and 10 units to help cover their COVID-19 related rent losses from April through July," said Murphy.
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"Landlords who receive assistance through this program must then pass along the benefits to their tenants by forgiving outstanding back rent and late fees accumulated during this same period," he said.
Watch Gov. Phil Murphy's Aug. 7, 2020 Briefing:
Murphy said most of New Jersey's low and moderate income renters live in these buildings.
There is currently a statewide moratorium on evictions, but that would expire two months after the public health emergency ends, according to Murphy.
The governor said this program would offer some protection to renters once that happens.
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