To: Board of County Commissioners
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Prepared By:
prepared
Todd Weaver, Director, Finance
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Subject:
title
A resolution to authorize the Chair to sign certification to receive Federal Emergency Rent Assistance funds
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Purpose and Request:
recommended action
The Board of County Commissioners is requested to authorize the Chair to sign the required certification on behalf of Arapahoe County to be eligible to receive the recently announced Emergency Rental Assistance funds from the Federal government.
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Background and Discussion: On December 27, 2020 the President signed the Consolidated Appropriations Act for 2021. This act included language in Section 501 of Division N to provide funding for emergency rental assistance to renter households and landlords on behalf of renter households that meet specific income and need-based criteria. The Federal guidelines state that at least 90% of the funds must be used for rent, rental arrears, utility and home energy costs or arrears, and other expenses rlated to housing incurred directly or indirectly due to the pandemic. The remaining 10 percent can be used for housing stability services and/or administrative expenses attributable to providing assistance under this program. Funds must be obligated by September 30, 2021 and must be used before December 31, 2021. Funds not obligated or used will be recaptured by the US Treasury.
Alternatives: The Board of County Commissioners could elect not to certify to the Department of Treasury to receive this rental assistance funding and the funding would instead be remitted to the State of Colorado.
Fiscal Impact: It is not yet known how much funding Arapahoe County would receive from this program. It is likely that this will not be known until after all local governments that are eligible to receive such funds have determined if they are going to certify to receive such funds.
Alignment with Strategic Plan:
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