Help is on the way!!!


MIAMI – The Miami-Dade Board of County Commissioners on Sept. 15 approved Commissioner Joe Martinez’s legislation which allocates $10 million from the funds made available through the 2020 Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") to those in need located in unincorporated Miami-Dade County. These funds consist of $5 million to assist the Micro-Business Revolving Loan Program, and the other $5 million will go to the Emergency Rental Assistance Program (ERAP). The funds will provide financial assistance to micro-businesses and low- and moderate-income tenants in the unincorporated areas of Miami-Dade County that have been impacted by the COVID-19 pandemic

 

These funds consist of $5 million to assist the Micro-Business Revolving Loan Program, and the other $5 million will go to the Emergency Rental Assistance Program (ERAP). The funds will provide financial assistance to micro-businesses and low- and moderate-income tenants in the unincorporated areas of Miami-Dade County that have been impacted by the COVID-19 pandemic.

 

In response to economic hardships across the nation, Congress passed the CARES Act. Miami-Dade County received $474 million to assist in the financial recovery of various groups of individuals, organizations, and small businesses impacted by COVID-19. Miami-Dade County has negotiated an agreement to implement a revolving loan program to provide micro-businesses throughout the County impacted by the COVID-19 pandemic with low interest rate loans (the “Micro-Business Revolving Loan Program) and to create the COVID-19 Emergency Rental Assistance Program (“ERAP”) which aims to relieve the financial burden of tenants who have lost income due to COVID-19.

 

The Miami-Dade COVID-19 Residential Landlord and Tenant Assistance Program can provide up to three (3) months of past-due rent per unit, with a maximum of $5,000 per unit. Funds will be paid directly to approved landlords in the form of a grant by Miami-Dade County, which must be used solely to provide rent forgiveness in the same amount to eligible tenants. Landlords facing financial hardship due to tenants experiencing income loss as a result of the COVID-19 pandemic who have missed or are in danger of missing rental payments can apply on their tenant’s behalf.

 

For more information, click on the legislation link: 201850

 

“This legislation is very important to our community. We need to recognize that small businesses and our landlords in the unincorporated areas of Miami-Dade County need this type of assistance to cover their losses. This initiative will simultaneously also help low- and moderate-income households in meeting their rent obligations during these trying times,” said Commissioner Martinez.

 

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