Lightfoot Launches $80M Rental Assistance for Tenants, Landlords
The Lightfoot administration on Monday opened the third and largest round of rental assistance for tenants and landlords since the onset of the COVID-19 pandemic. The Emergency Rental Assistance Program (ERAP) includes nearly $80 million funded through emergency relief enacted by Congress in December 2020.
“The Emergency Rental Assistance Program will not only help to relieve these residents of the fear of losing their homes and being thrown further into uncertainty and socioeconomic instability but allow our city to make significant progress in our mission to provide our communities with resources they need to thrive long after this pandemic is over,” said Mayor Lori Lightfoot.
Coming about a week after Gov. JB Pritzker announced that Illinois’ moratorium on pandemic-related evictions will be phased out by August, the third wave of ERAP is intended to help renters to avoid a wave of evictions and property owners to avoid foreclosures.
- ◦Lease
- ◦Financing