New Westminster expands rent bank program amid virus crisis
Posted March 30, 2020 12:04 pm.
Last Updated March 30, 2020 12:05 pm.
NEW WESTMINSTER (NEWS 1130) — The City of New Westminster approved $1.7 million Monday to expand the city’s rent bank program during the COVID-19 pandemic.
The money comes from New Westminster’s affordable housing reserve fund and will support renters with emergent needs related to COVID-19.
The first action will be to allocate $100,000 from the fund as an endowment to expand the administrative and loan capacity of the New Westminster Rent Bank Program, says a release from the city.
“The City of New Westminster has received an increasing number of inquiries regarding protection against eviction due to loss of employment earnings and inability to pay rent as
a result of the COVID-19 pandemic.”
We are pleased to announce that we are expanding the Rent Bank Program to support renters during the COVID-19 pandemic. Learn more. https://t.co/ZFzb742uK8 #newwest pic.twitter.com/ztPUe5wLc5
— City of New Westminster (@New_Westminster) March 30, 2020
The city will work with the Lower Mainland Purpose Society to expand the rent bank program to protect tenants from being evicted.
“There are more people in our city struggling to pay rent and we hope we can help alleviate some of that burden as we navigate our way through this challenging time,” says Mayor Jonathan Coté.
The city established the rent bank program in June 2017 to assist in short-term crisis situations, such as a person changing jobs or an unexpected medical expense.
It is meant to provide low-cost loans to people at risk of eviction or being disconnected from essential utilities due to a temporary or unexpected financial crisis, says the city.
“For the duration of the COVID-19 pandemic, access to the program will be enhanced for renters at risk of eviction due to loss of income and inability to pay rent.”
