By Troy Torres
A federal funds package includes $66.9 million in rental relief, and $29 million in homeowner relief for Guam, according to Congressman Michael San Nicolas.
The federal government will pay landlords the rent they are owed from qualified renters over the next three years, or until funds are exhausted, whichever comes first. Qualified renters must make within 80 percent of median income at the time of application, and must have insufficient ability to pay rent.
The federal government also will provide $29 million to Guam under the Homeowner Assistance Fund.
The funds are part of a $2 trillion coronavirus relief package set to pass in the House and believed to have bipartisan support in the Senate. The White House already has signaled its support for the general tenets of the proposal.
Keep in mind this is a presidential election year. Depending on whether it is bipartisan or not, it may all very well be a pipe dream. Not counting any eggs before they hatch!🤡