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13 <br /> April 7, 2020 <br /> Housing Stabilization Transfer <br /> • Local Rent Supplement/Local Voucher Program <br /> o Originally Approved in 2018 <br /> o Annual Funding of$100,000 <br /> o Intended to Serve as a More Flexible Alternative to Federal Housing Choice <br /> Voucher <br /> o However; Initial Program Rules Rules Still Limited Accessibility of Funds <br /> o Barriers are the Same in Unit Availability and Suitability for the Voucher Holder <br /> o Originally Intended to Serve 15 Families <br /> o One Individual Served to Date and Can be Moved to the Traditional HCV <br /> Program <br /> o Demand Increasing for Displacement Mitigation and Housing Stabilization due to <br /> COVID-19 Job Losses <br /> Housing Stabilization Program <br /> • Overall Strategy <br /> o Maintain Current Housing as a Bridge to Other Benefits (Unemployment or HCV) <br /> or Other Alternatives <br /> • Eligible Residents <br /> o Residents Earning up to 80% Area Median Income <br /> ■ For a Family of Four = Up to $67,850 Annually <br /> o Priority Given to Residents Earning Below 60% Area Median Income <br /> ■ For a Family of Four = $50,880 <br /> • Eligible Uses <br /> o Rent Assistance <br /> o Temporary Hotel Stays <br /> o Security Deposits <br /> 0 1st month's Rent <br /> o Moving Expenses <br /> Housing Stabilization Program <br /> • Limitations <br /> o Maximum Assistance of$2,000 per Occurrence <br /> o Intended for One Time Use <br /> o Subsequent Requests Receive Additional Case Work to Determine and Address <br /> Systemic Challenges <br /> • Housing Helpline (Coordinated Entry) <br /> o Applications Screened by Coordinated Entry Staff Person <br /> o Recommend Assistance that Best Meets Needs <br /> • Housing Authority Approved Transfer from the Local Rent Supplement Program to the <br /> Displacement Mitigation Fund <br /> Travis Myren said a question was raised about an "asset test", where staff would ask <br /> about one's assets other than cash. He said that is not a bad idea for this type of program, and <br /> staff will figure out from its partners what that would look like. <br /> Housing Stabilization Program <br /> • Manager's Recommendation <br />