DENVER (KDVR) — A new program that allocates nearly $20 million in federal CARES Act housing assistance funding was approved on Friday. The Property Owner Preservation Program will assist eligible renters and landlords unable to pay due to COVID-19.
“This fund will help Coloradans who have been financially impacted by the pandemic and need rent assistance. This pandemic is far from over, and we will continue working to do everything we can to help provide some relief to those who have been significantly impacted. ”Governor Jared Polis
The new program, announced on Friday by Governor Polis and the Department of Local Affairs, is a result of legislation passed by the Colorado General Assembly to allocate the funds for housing assistance, including rental and mortgage assistance.
“While the majority of renters and homeowners have continued to make rental and mortgage payments, there are thousands of households that have been unable to do so due to the economic impacts of COVID-19. The POP program will allow for landlords to apply for assistance on behalf of tenants and help with Colorado’s housing stability.”Rick M. Garcia, Executive Director of the Colorado Department of Local Affairs
Colorado renters and landlords can learn more about the program, including how to qualify for assistance.