TALLAHASSEE, Fla. (WTXL) — Tallahassee city commissioners could soon weigh-in on a proposal that would create a fund to minimize the risk landlords take on during the COVID-19 pandemic.
On Dec. 8, Tallahassee City Commissioners will discuss the possible creation of a “Landlord Risk Mitigation Fund,” to combat the effects of evictions and foreclosures caused by the pandemic.
“Depending on any action taken at the federal level, hundreds if not thousands of our residents could lose access to housing in the coming months,” city staffers wrote in their report.
According to the city, since March there have been 787 eviction cases and 72 foreclosure cases filed in Leon County. Of the 787 eviction cases, only about 44 percent have been closed, and only 17 percent of the foreclosure cases have been closed.
The proposed $250,000 fund aims to be a resource that can be drawn upon by a landlord to minimize the potential financial impact of renting to a tenant perceived as “higher risk.”
The city says that a fund such as this would allow landlords to act as community partners in addressing local housing needs by using these funds to project their units in case of tenant instability.
The proposed fund will be discussed at the City Commission Workshop Tuesday morning. Residents can provide comments on the matter in person or by submitting them online by 9 p.m. Monday night.