City of Cambridge Housing Stabilization Program Expands Subsidy Payments to 4 Months

The City of Cambridge announced today it is expanding payments from its COVID-19 Housing Stabilization Program from two months of short-term financial assistance to four months of assistance.

The Program, which launched on July 20, 2020, provides a subsidy to individuals and families in Cambridge who are experiencing housing instability due to the economic impact of the COVID-19 pandemic. The support is for rent, condominium fees, or cooperative carrying charges of more than 40% of the household’s income.

“Through our $1.5 million Housing Stabilization Program almost 200 Cambridge households are receiving or about to receive financial assistance for housing-related needs,” said City Manager Louis A. DePasquale. “By expanding housing support payments from two months to four months, the Program will provide approximately $684,000 directly to residents who need housing assistance. I am proud of the support we have distributed to residents in the first three months of this Program, and I encourage qualified Cambridge residents to apply for assistance if they are experiencing financial hardships due to COVID-19.”

Under the revised guidelines, new qualified applicants will receive a four-month subsidy for the amount by which their housing cost exceeds 40% of the household’s current income. Anyone previously approved for a subsidy will automatically receive two additional months of payments.

“Since March, the City’s efforts to provide financial assistance to keep residents housed and safe has been a multi-pronged approach. I am grateful to the donors who contributed to the Mayor’s Disaster Relief Fund and thankful for their commitment in helping Cambridge residents in need,” said Mayor Sumbul Siddiqui. “The transfer of $25,000 from the Mayor’s Disaster Relief Fund into the Housing Stabilization Program furthers this commitment in ensuring our City’s most vulnerable residents who have been impacted by COVID-19 remain housed during this incredibly difficult time.”

Launched in April, the Mayor’s Disaster Relief Fund has raised over $4.7 million and disseminated $3.7 million to assist over 1,500 families, residents and businesses in need due to financial hardship caused by the COVID-19 pandemic.

Cambridge residents experiencing housing instability are encouraged to apply to the Housing Stabilization Program. 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, to request assistance completing an application over the phone. Staff will make the best efforts to return calls within three 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. Applicants’ total household income must be at or below 80% of the Area Median Income (AMI) at the time of application ($67,400 for a 1 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 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 program is 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.

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: www.cambridgema.gov/covid19.

Page was posted on 9/21/2020 5:48 PM
Page was last modified on 9/21/2020 6:43 PM
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