Alameda County has initiated a program to support rental housing providers in obtaining rental reimbursement for the loss of income experienced during the COVID-19 pandemic.
The Foreclosure Prevention Program for Small, Low-Income Property Owners (FPP) comes in response to the county’s restrictive eviction moratorium. In effect for nearly three years, the moratorium forced some housing providers to provide rental housing with minimal to no compensation, putting some properties at risk of foreclosure.
The California Apartment Association has engaged with the county on exploring a broad rental reimbursement program for housing providers who suffered financial losses due to the county’s eviction moratorium. FPP is the first step in that direction.
Some features of the FPP include:
- No-cost grants of up to $75,000 for eligible rental housing providers.
- Access to free resources and HUD Counseling Services.
- Emphasis on aiding providers who manage fewer than 10 units and are facing foreclosure risks.
- Requires that the property owner reside in Alameda County and that their income not surpass 80% of the Area Median Income (AMI).
The application deadline is currently set for Nov. 6. However, per recent discussions with the county, CAA anticipates the deadline to be extended to allow more applicants to access the program. For more details, visit a1chs.org/FPP or call A-1 Community Housing Services (A-1 CHS), a HUD-approved agency, at (510) 674-9227 or information@a1chs.org.
