A program to assist Cherry Hill residents who have struggled to pay their mortgages or rent because of the pandemic was launched Friday.
Approved applicants will be eligible for grants of up to three months of assistance for current or past-due payments, dating back to March 2020.
"As vaccination rates increase and we emerge from the pandemic, we must not forget that many of our residents are still facing financial distress due to the pandemic and struggling to catch up on crucial expenses like housing,” Mayor Susan Shin Angulo said in the statement announcing the launch, which was approved by the Township Council in a resolution last December.
In the resolution, the Township earmarked $601,585 for rent and mortgage assistance for its residents from its Coronavirus Aid, Relief and Economic Security Act (CARES) allotment provided by the federal government.
Electronic applications will be available beginning May 15 and will be processed on a first-come, first-served basis, according to the Township's flier.
"The program is available to Township renters and homeowners who have seen a substantial reduction in income due to the pandemic and also qualify as low- or moderate-income, defined as households at or below 80% of the Area Median Income," according to the Township's news release.
For example, the 80% median income limit for a family of four in the metro area is $75,600. For one person, it is $52,950, according to the program documentation (a PDF of the guidelines is below).