Commission Approves $500K Funding for Coral Springs Residents Seeking Mortgage or Rent Assistance

money funds funding

By Hank McCoy

On August 5, the city commission approved an amendment to Broward County Minority Builders Coalition contract with Coral Springs to allow them to administer Coronavirus Relief Funds received through the Florida Housing Coalition in the amount of $502,500 to help residents with mortgage and rent assistance.

The funds come from the Coronavirus Relief Fund, or CRF, which will be distributed in two separate disbursements, the first once the agreement is signed and sent to the state, and the second is projected for October. Any funds not used by the end of the year would go back to the state.

Ten percent of the funds will go to administration costs, and five percent would go to project delivery. The rest would go to residents who apply. 

The city will be focusing on rental and mortgage assistance. For emergency home repair to be an eligible CRF project, income eligible residents must prove loss of income as a direct result of COVID-19. Furthermore, regular home repair is not an eligible project.

Commissioner Joshua Simmons expressed the importance of prioritizing mortgage and rental assistance for the funds.

“Folks that were doing everything they’re required to do before the pandemic are now unable to pay their mortgage or rent,” said Simmons. “I’d prefer that this money goes directly towards the mortgage and rental assistance.”

Community Development Coordinator Neirah Sankar explained that the city used 2019 SHIP funds that normally would have been used for home repair, instead for rental assistance in June. She explained that any SHIP funds put towards rental assistance, the city can use CRF funds to reimburse their SHIP allocation because it’s being used for COVID-19 related rental assistance. 

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These are CARES Act funds being redistributed by the State as Coronavirus Relief Funds.   

There will be a ten-day advertisement on the cities website beginning August 16 to make residents aware of these funds and how to apply. For more information about Coronavirus Relief Fund go to the Florida Housing site.

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Author Profile

Hank McCoy

Hank McCoy
Hank McCoy is a writer and journalist covering music, politics, and culture on his blog Hank’s Luncheonette, as well as currently working on publishing his first novel. Hank grew up in Parkland and graduated from FAU before moving to Chicago where he worked in the music industry as an artist and talent booker when he wasn’t throwing people out of punk bars. Hank recently moved back to South Florida after living overseas in Berlin while he traveled to Europe.

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