TALLAHASSEE, Fla. (WTXL) — Tallahassee city commissioners unanimously passed a motion Tuesday to create a fund to minimize the risk landlords take on during the COVID-19 pandemic.
The $250,000 fund was passed during the City Commission Workshop that focused on housing stability during the COVID-19 pandemic, and it aims to be a resource that can be drawn upon by landlords to minimize the potential financial impact of renting to tenants perceived as “higher risk.”
The city says that the fund allows 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 recurring fund would be “utilizing a mix of existing local, state and federal funding,” that landlords can tap into if there's an issue that with a tenant.
“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.
As for when landlords could possibly begin applying to the fund, the city has not given a date yet and is still working to iron out the final details about the fund.