D.C. officials will hand out grants to some landlords to forgive back rents and stay afloat financially while the pandemic drags on.
Mayor Muriel Bowser announced on Monday a new $10 million fund for these “Housing Stabilization Grants,” targeting them to owners of affordable properties and other small buildings around the city. Of the total, $9 million will be set aside for affordable projects, and $1 million for owners of 20 units or fewer.
The grants will cover up to 80% of rent arrears for each tenant that has fallen behind on rent, up to $2,000 per unit, per month.
Washington Business Journal/Alex Koma