Feds should focus more COVID relief on Colorado’s hard-hit housing sector

Colorado Politics released an op-ed by Terry Simone, president of the Colorado Apartment Association, on COVID-19 relief for Colorado.

“In the unprecedented circumstances of COVID-19, Colorado’s housing industry applauds the federal government for its speedy response with financial aid through the Coronavirus Aid and Economic Security Act (CARES Act). These funds will benefit thousands of residents and fuel local economies with needed financial stimulation.”

“However, although the CARES Act extends needed support for Colorado’s hurting residents and businesses, it does not encompass the entirety of financial aid that the housing industry will need during this pandemic. ”

“The intended result of the financial aid from the CARES Act is to stimulate the economy by helping residents cover monthly payments such as rent. However, the CARES Act does not include stipulations for residents to use the funds toward rent, utilities or other monthly bills, so there is no guarantee that the housing industry will be supported by this funding. As such, Colorado’s housing industry supports the joint letter to Congress by the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) that outlines additional priorities needed for future COVID-19 relief packages. The letter can be read on the NMHC website: https://www.nmhc.org/advocacy/comment-letters/.”

Read more at Colorado Politics