Waltham City Council Passes Proposal for $1 Million Rental Assistance Fund!

Taking swift action on a proposal just passed by the Community Preservation Committee last Friday, the Waltham City Council approved the use of $1 million of CPC funds to provide emergency rental assistance. 

The new fund passed in light of rapidly escalating need in the community, as more and more residents are impacted by the coronavirus outbreak. The city’s current $150,000 Emergency Fund for Tenant Assistance – only passed earlier last month – has already received over 400 applications, and processed 45 applications for $67,000. Thanks to the establishment of the new CPC fund, the old Emergency Fund will cease accepting applications April 30.

The new fund is a temporary program to distribute financial assistance during the COVID-19 pandemic. The fund may provide assistance for up to three months, with a maximum of $6,000 per household. The program is also needs-based, and will consider the applicant’s income at the time of job loss or had a loss of income. Of the fund’s total $1 million, 80%  is for households at the 100% Area Median Income (AMI) threshold; the remaining 20% – $200,000 – has been set aside for tenants at 50% AMI or below. Applications to the program will include income and asset eligibility documentation. The fund will be administered by the Waltham Housing Division, and will begin operation as soon as possible.

THANK YOU to the advocates, supporters, government workers, and elected officials who pushed for fast, comprehensive action to help carry our community through this crisis.