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Financial Services Law Insights and Observations

New York governor announces new Covid-19 rental assistance program

State Issues Covid-19 New York Mortgages CARES Act

State Issues

On July 14, the New York governor announced an emergency rental assistance program that will provide direct aid to tenants who have lost income due to the Covid-19 pandemic. The program is funded through the CARES Act’s Coronavirus Relief Fund and will be administered by the New York State Homes and Community Renewal, which will begin accepting applications for assistance on July 16. To qualify for the program, applicants must meet certain eligibility requirements, including loss of income and residency requirements.

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