LA County launches $100M rental assistance program

Los Angeles County launched its $100 million rental assistance program this week.

County residents have until the end of August to apply for aid, according to Commercial Observer.

Renters in all parts of the county but the City of L.A. can apply for the program. The city launched its own $103 million rental assistance program last month.

Eligibility is based on applicants’ income — the lower a household’s income compared to Area Median Income, the higher the rental subsidy they can receive.

A household earning 30 percent of AMI can receive up to $10,000 in assistance, while a household earning 50 percent of AMI can receive up to $7,500, according to the Commercial Observer. The program is intended to help up to 9,000 renters.
The L.A. County Development Authority will administer the program. Rental assistance will be paid directly to landlords of eligible renters.

The County Board of Supervisors authorized the creation of the fund in April, although it has been expanded in scope since then.

It’s mostly funded through the federal government’s CARES Act, meant to help buoy the economy amid the coronavirus pandemic.

Supervisor Mark Ridley-Thomas said that around 20 percent of families in the county that have lost jobs could end up homeless, calling the rental assistance program “the massive down payment we need to stabilize the housing market.”
L.A. County’s unemployment rate reached 19.5 percent at the end of June. [CO] — Dennis Lynch