Holcomb Details $25M CARES Act Funding for Renter Assistance
Hoosiers struggling to pay rent because they were impacted by the COVID-19 pandemic will be eligible to get some financial help as the state announces a $25 million initiative.
Governor Eric Holcomb said Wednesday the Indiana COVID-19 Rental Assistance Program will use money from the federal CARES Act to help up to 12,000 Hoosiers who live in rental properties outside of Marion County.
The governor’s office says the assistance is available to residents in all Indiana counties except Marion, where a local $15 million CARES Act-funded program will provide aid.
“This has been a very challenging time for Hoosiers, and the economic impacts of COVID-19 has left some renters in a tough spot,” said Gov. Holcomb, who indicated the program will “support our renters, improve our state’s housing stability and help prevent evictions as the state gets back on track.”
Eligible renters will be able to receive up to $500 in assistance for four months, totaling a maximum of $2,000, to help cover past and ongoing rent payments or late fees.
“Now this can be in combination of past due rent starting from April 1 or later, or ongoing rent payments up to $500 per month,” said Indiana Housing and Community Development Authority Executive Director Jacob Sipe.
To be eligible, renters must have lost their job or part of their income due to COVID-19. They must have current household income, including unemployment, that is less than the household income on March 6.
Recipients must also have not received rental assistance from another source, such as section eight housing choice vouchers or USDA assistance.
The state says payments will be made directly to the landlord, but that’s if the landlord agrees to participate in the program.
Sipe acknowledges this assistance will not cover a complete rental payment for many Hoosiers, as the median rental payment in Indiana is $825 per month.
“We have to recognize the $500 a month is not designed to fully cover a renter’s household monthly payment,” said Sipe. “So, it’s important that the household continues to work with landlords to make a payment plan.”
Governor Holcomb said during the briefing that his executive order preventing evictions and utility cutoffs will be extended through July.
Applications will be accepted online beginning July 13 at 9 a.m.
Click here to learn more about the rental assistance program.
Indiana Housing and Community Development Authority Executive Director Jacob Sipe lays out some of the guidelines for the program.