Cinnaire has established the COVID-19 Resident Rental Relief Fund to provide support to renters throughout our footprint that have suffered financial hardship due to the pandemic. Cinnaire has contributed $250,000 to the fund and Delta Dental, the nation’s largest provider of dental benefits, has announced a $250,000 contribution to Cinnaire’s COVID-19 Resident Rental Relief Fund.
“When the world comes crashing down, most of us can rely on our homes for security and safety, but that’s not the case for everyone, especially those hardest hit by the pandemic,” said Margaret Trimer, vice president of strategic partnerships at Delta Dental. “This fund will help keep families intact and provide hope and peace of mind for those who may now know what tomorrow holds.”
While eviction moratoria have helped keep people housed, low-income renters facing job losses and income reductions are accruing large debts they will be unable to repay without additional support. By the end of January, when the Centers for Disease Control and Prevention’s nationwide eviction moratorium is set to expire, these renters will owe $70 billion and eviction filings and additional financial hardship on families will result.
Cinnaire’s expertise in affordable housing combined with our people-first approach to advancing communities positions our team to efficiently and effectively provide rent relief to those who need it most. As renters face job loss or income loss, many are left with the difficult choice to use their limited resources for rent, medicine, food or other necessities. Black and Hispanic households have been disproportionally hard hit by job and income losses, putting them at even greater risk of housing instability and further compounding racial inequality.
“We established this fund to ensure families living in communities Cinnaire has invested in will continue to have a safe and affordable place to call home,” said Mark McDaniel, Cinnaire CEO. “No one should lose their home in the middle of a public health crisis. Our program has been designed to provide relief to those that need it most. We extend our gratitude to Delta Dental for joining Cinnaire in addressing the extraordinary need renters are facing during this crisis and for their impactful investment in our fund.”
Cinnaire’s COVID-19 Resident Rental Relief Fund offers temporary assistance to residents who are experiencing a sudden reduction in household income or have experienced hardship and are temporarily unable to pay their rent. Cinnaire’s developer and property management partners will identify eligible renters and assist in administering the program.
Click here for more information on Cinnaire’s Resident Rental Relief Fund. Impact investors, banks, corporations and foundations interested in providing rent relief to support families struggling to stay in their homes can contact Donsia Strong Hill at (312) 508-7065 for more information.