Gov. Hochul signs the bill to boost rental assistance

by Verus Real Estate

Governor Kathy Hochul signed the bill that will increase rental assistance for New Yorkers. A new state law raises the maximum available housing voucher for families under the Family Homelessness and Eviction Prevention Supplement (FHEPS) program. 

FHEPS helps survivors of domestic violence and families who face eviction or lost their homes. The program provides monthly rental subsidies in one of the most expensive cities, New York. Before, the maximum available subsidy was 85%. The bill raised it to 100% of the “Fair Market Rate” set by the U.S. Department of Housing and Urban Development. 

Since 2020 the city has been facing record homelessness. According to the data provided by Coalition for Homeless, over 47,000 homeless people are sleeping every night in the New York City shelter system. The pandemic had a tremendous impact on increasing housing insecurity. Nearly 500,000 households in New York City owe rent back. The city’s rent relief program is no longer taking most new requests. Gov. Hochul has asked the federal government to add $1 billion to additional funding of the rent relief program. 

The new state law increases the number of families eligible to receive rental subsidies under the FHEPS program. State Senator Brian Kavanagh and Assemblymember Linda Rosenthal sponsored the bill.

On December 10, Governor Kathy Hochul of New York signed the bill at the Lincoln Square Neighborhood Center at Goddard Riverside in Manhattan. “This stroke of a pen will allow thousands of more New Yorkers to be able to leave a shelter and go into a home because, for the first time, they will be able to afford it. That’s what this bill is going to accomplish,” Gov. Hochul said.

 

Resources: 

Struggling New Yorkers Set To Get Boost In Rental Assistance,” by Jon Campbell (Gothamist, 2021)

Governor Hochul Signs Legislation to Combat Homelessness and Expand Housing Affordability in New York City,” (Governor New York, 2021)

FHEPS,” (NYC Administration of Social Services)

Governor Hochul Signs the Family Homelessness and Eviction Protection Supplement (FHEPS) Bill,” (Governor Kathy Hochul, YouTube, 2021)

Basic Facts About Homelessness: New York City,” (Coalition for the homeless, 2021)

500,000 New Yorkers Owe Back Rent. What Happens When Evictions Resume?” by Matthew Haag (the New York Times, 2021)

New York to Stop Accepting Applications for Pandemic Rental Aid,” by Mihir Zaveri and Matthew Haag (the New York Times, 2021)

Video, Audio, & Rush Transcript: Governor Hochul Signs Legislation to Combat Homelessness and Expand Access to Stable Housing,” (Governor New York, 2021)

Fair Market Rent Calculation Methodology,” (FY 2021 Fair Market Rent Documentation System, 2021)

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