NAHMA published a NAHMAnalysis to highlight this implementation of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The bill is a $2 trillion package aimed at combating the economic damage from the coronavirus pandemic, and represents the third bipartisan agreement between the Democratic House, Republican Senate, and White House to address the public health and economic crises that have resulted from the pandemic.
The CARES Act includes numerous programs and provisions to provide economic and financial relief to individuals, businesses, and governments impacted by the coronavirus pandemic. The CARES Act also includes several housing-specific provisions, including funding for HUD programs, an eviction moratorium, and forbearance for homeowners and multifamily properties. However, the CARES Act does not provide funding or relief for USDA’s rural housing programs, nor for tax credit properties. Congress is already taking steps to begin developing a fourth relief package, and NAHMA’s goal is to ensure all housing is covered in this package.
This NAHMAnalysis provides a summary of the CARES Act’s key provisions for the affordable housing industry, including links to find additional information on the implementation of these provisions, as well as NAHMA’s thoughts on next steps for additional relief. This NAHMAnalysis is available here.