This is a Texas Housers Buzz session. I am Texas Housers, senior researcher Ben Martin,
and I am research analyst, Erin Hahn,
and Erin and I are talking today about. emergency rental assistance and specifically, the recaptured process by the Treasury Department.
We have some concerns about how this is going on, so we're going to dig into it. First, quickly, let's just talk about what emergency rental assistance is. Erin, would you like to field that?
Sure. The federal emergency rental assistance program, was passed, last year and its purpose is to keep low-income renters housed through the pandemic.
And so there's a funding for ERA One and then ERA Two. And, we're approaching an obligation deadline at the end of this month. So jurisdictions have to have obligated all of their ERA One, the first traunch of this funding, by the end of this month.
We know that there are over 30 different ERA programs in the state of Texas, the State itself has an ERA program.
And then. 36. I think if I've got the number, right, counties and cities have ERA programs to serve their local, low-income renter populations and their landlords. So we know that several of these local programs have not met their obligations, to meet this upcoming deadline. What is Treasury say is going to happen when these jurisdictions don't meet this deadline.
So the Treasury has set spending targets that jurisdictions were expected to meet every two months and beginning in September of 2021. And so we've seen that some of the cities and counties in Texas have been consistently failing to meet these deadlines, and having funds recaptured by the Treasury as a result.
And at the end of this month, there's a final ERA One obligation deadline. So all uobligated ERA One will be recaptured from these slow spending jurisdictions, back to the Treasury.