Covid-19 Housing Stabilization Program taking new applications as of Jan. 11
Applications can be filed as soon as Jan. 11 for the next round of funding in the Covid-19 Housing Stabilization Program, which provides up to six months of financial help to Cambridge residents experiencing housing instability due to the economic impact of the pandemic.
So far $1.2 million has been committed for housing assistance by the city, supporting 225 households. The program is being continued with an additional $628,000 from federal Community Development Block Grants and Cares Act money.
Residents can apply if they have not yet received funding from the program and meet these eligibility requirements:
- They are Cambridge tenants, owners of a limited equity coop or owners of a home bought subject to long-term affordability restrictions administered by the city or another public agency;
- Their total household income must be at or below 80 percent of the area median income at the time of application;
- They must demonstrate that their housing costs (condo fee, cooperative carrying charge, mortgage or rent) are more than 35 percent of their gross household income at the time of application;
- They must not have more than $75,000 in liquid assets.
Information is at cambridgema.gov/housingfund.