NYS Makes $3.5B Available in Relief for Renters, Small Businesses
The Cuomo administration is providing $3.5 billion in assistance for renters and small businesses experiencing financial hardship due to the COVID-19 pandemic. Applications for the rental assistance program, which is expected to serve between 170,000 and 200,000 households statewide, open June 1.
The rental assistance program makes up to $2.7 billion in emergency rental assistance available. Administered by the state Office of Temporary and Disability Assistance, the New York State Emergency Rental Assistance Program will provide assistance with up to 12 months of past-due rent, three months of prospective rental assistance and 12 months of utility arrears payments to eligible New Yorkers, regardless of immigration status.
The small business recovery grant program makes up to $800 million in funding available for small businesses to help them recover from the economic impact of the pandemic. Applications for the program will be accepted starting June 10.