The Department of the Treasury announced it will reallocate $690 million of Emergency Rental Assistance (ERA) program funding to assist with preventing evictions. The funds will be made available to 89 state and local governments, as well as nonprofit organizations, to provide rental assistance to individuals and families that have been impacted by the COVID-19 pandemic. The funds will be used to cover past-due rent, future rent and utility payments to help keep people in their homes. These funds will be shifted from communities that did not meet certain Treasury-determined spending benchmarks by the end of Quarter 2, 2022, for the ERA 2 program to those that met these spending benchmarks and demonstrated continuing needs. Treasury has now reallocated more than $3.5 billion in rental assistance funds of the more than $46 billion provided under both ERA 1 and ERA 2.
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