NEW YORK (WWTI) — New York is seeking more funding for rental assistance.
On Thursday, New York Governor Kathy Hochul announced that the state has requested an additional $1.6 billion from the United States Treasury Department ahead of the next round of federal rent relief allocation.
Governor Hochul said that this funding would help fulfill the “unmet need” among tenants and landlords who have applied for Emergency Rental Assistance. If granted, the funding would cover approximately 174,000 tenant applications that have yet to be funded.
“We delivered nearly $1.4 billion for renters struggling from the pandemic, but we must do more. New York State continues to demonstrate a large need for this federal funding,” Governor Hochul said in a press release. “Our appeal to the Treasury to reexamine its reallocation formula to prioritize high-tenant states like New York represents the latest in our continued and vigorous advocacy for those still reeling from the financial impact of the pandemic.”
New York State previously exhausted its initial funds for the program and subsequently requested $996 million in reallocation funding from the Treasury Department. However, the Department granted New York with only $27 million.
Additionally, earlier in January, New York, California, New Jersey and Illinois sent a joint letter to U.S. Treasury Secretary Janet Yellen to request additional federal funding and ensure high-need states populations are prioritized. Since November 2021, these four states have expended a combined $5.4 billion in assistance.