ALBANY, N.Y. (NEWS10) – On Tuesday, a letter by the Governor issued to Treasury Secretary Janet Yellen, requests additional Emergency Rental Assistance Program (ERAP) funding, as many New Yorkers continue to struggle with rent payments amid the ongoing pandemic.
New York State has rapidly reached a critical turning point in all ERAP funds allocated by the U.S. Treasury, which will soon be fully obligated or distributed Gov. Hochul said.
Based on New York’s high level of performance, the U.S. Treasury anticipates that it will have fully obligated all available federal assistance by early October. In the meantime, New York State continues to receive applications at a rate of over 9,000 per week.
The State has fully obligated its first-round ERAP assistance and will very shortly obligate all of its second round of emergency rental assistance funding, which the State has established a demonstrable need and is eligible to receive additional funds.
The Treasury is directed to recapture any “excess” unobligated funds and to reallocate them to grantees that have obligated at least 65% of their first round of emergency rental assistance funding.
“Initial ERAP allocations were based on a per capita distribution formula and did not consider New York’s high percentage of renting households,” Gov. Hochul said. “I am requesting that the reallocation of ERAP funds take into consideration the number of renter households in a State.”
The State’s commitment to averting a potential eviction crisis Gov. Hochul said, instituted the longest eviction moratorium in the nation to provide $250 million in state funds to help landlords and tenants not eligible to receive Federal ERAP assistance.
Even with these additional State funds, New York’s need far exceeds available funding, and an additional allocation of federal funding will be required to address this crisis.
Check the letter out here: