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City of Cambridge Launches $1.5 Million COVID-19 Housing Stabilization Program

UPDATE: 7/20/20 - The online application is now available here.

The City of Cambridge announced today the creation of a COVID-19 Housing Stabilization Program to provide short-term financial assistance to individuals and families in Cambridge who are experiencing housing instability due to the economic impact of the COVID-19 pandemic.

“This program represents the City’s second phase of COVID-19 related financial assistance for housing-related needs,” said City Manager Louis A. DePasquale. “I am incredibly proud that we are expanding our efforts to help residents who need housing assistance. Through this new program, the City will provide $1.5 million in direct support to help individuals and families who are facing housing instability due to the COVID-19 pandemic.”

The program will subsidize eligible households whose rent, condominium fees, or cooperative carrying charges are more than 40% of their income at the time of application. Qualified applicants will receive a two-month subsidy for the amount by which their housing cost exceeds 40% of the household’s current income.

The program will be administered jointly by the City Manager’s Office through the Office of the Housing Liaison, the Department of Human Services Programs through the Multi-Service Center, and the Community Development Department.

Applicants are encouraged to apply for the COVID-19 Housing Stabilization Program online beginning July 20, 2020. The online application form can be accessed at www.cambridgema.gov/housingfund. Additionally, applicants who are unable to complete an application online may call 617-349-9797, starting July 20, 2020, to request assistance completing an application over the phone. Staff will make the best efforts to return calls within 3 business days.

To be eligible for the COVID-19 Housing Stabilization Program:

  • Applicants must be Cambridge residents.
  • Applicants must be Cambridge Tenants or Owners of a limited equity co-op or a home purchased subject to long term affordability restrictions administered by the City or other public agency. Since mortgage holders can apply for a forbearance, these funds will assist only with condominium or cooperative carrying charges.
  • Applicants’ total household income must be at or below 80% of the Area Median Income (AMI) at the time of application ($67,400 for a1 person household, $77,000 for a 2 person household, $86,650 for a 3 person household, $96,250 for a 4 person household, $103,950 for a 5 person household).
  • Applicants must demonstrate that their housing costs (condo fee, cooperative carrying charge, or rent) are more than 40% of their gross household income, at the time of application.

For additional information on submitting applications to the Housing Stabilization Program, visit www.cambridgema.gov/housingfund.

The City is committed to identifying new resources to help residents and businesses navigate this difficult time. For more information and to sign up to receive updates on COVID-19, please visit the City’s dedicated information page: https://www.cambridgema.gov/covid19.

Page was posted on 7/16/2020 3:18 PM
Page was last modified on 7/20/2020 9:16 AM
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