The Treasury Department will soon begin to claw back federal rental assistance from groups that haven’t distributed or committed enough of the money and reallocate it to communities with greater need, according to new guidance published Monday
WASHINGTON—The Treasury Department is set to soon begin clawing back federal rental assistance from groups that haven’t distributed or committed enough of the money and reallocating it to communities with greater need, according to new guidance published Monday.
Grantees that hadn’t obligated at least 65% of the funds received under the pandemic Emergency Rental Assistance program by Sept. 30 must submit an improvement plan to the Treasury Department laying out steps they plan to take to get more funds out the door, the agency said. The lowest-performing groups—those that haven't spent or distributed at least 30% of the funds received—could see the relief money redistributed to other communities.
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