The Mississippi Development Authority has officially launched the application process for the Mississippi Rental Assistance Program.
You can view those applications HERE.
The program was created by the Legislature in HB 1810 during the final days of the 2020 session in order to provide assistance to property owners and tenants whose resources have been impacted during the pandemic.
The Legislature dedicated $20 million in CARES Act dollars to the program, which will be split between $15 million to residential property owners and $5 million to commercial property owners.
Any commercial or residential property could be awarded up to $30,000.
The bill states that because of the difficulties caused by COVID-19 many renters have been unable to make payments which could put them at risk of becoming homeless. These lack of payments also create a crisis for independent rental businesses who then risk foreclosure. Because of those facts, the Legislature extended the federal and state eviction moratoria through December of 2020.
“The benefits of this $20 million rental assistance program are multi-faceted. Seventy-five percent of the funds ($15 million) will be allocated for residential purposes to citizens, via application through their landlords, who have fallen on hard times. This program will erase rental debts through the end of the year. The remainder ($5 million) will go toward commercial purposes, helping small business owners realize income where they would have had significant losses,” said Lt. Governor Delbert Hosemann.
Those who are eligible and can show lost rental income from March 1, 2020 up to December 30, 2020 can apply for these grants through MDA in order to be reimbursed.
You have until November 15, 2020, to file your application.
Any rental business that is approved and receives grant funds shall consider any rental payments due under a rental agreement at the property for which the grant was made, as having been paid in full through December 30. They also cannot evict any tenant for nonpayment for those dates.