ALBANY, N.Y. — Landlords and tenants are urging New York to swiftly release almost $1 billion meant to cover months of back rent for tenants.
New York officials cautioned this month that the $2.4 billion set aside for rental relief will likely not cover additional applicants, and closed the program to most new applications.
The fund has dispersed $1 billion as of Nov. 19. But another $1 billion has remained held up for months in part because of tens of thousands of incomplete applications submitted by tenants from June through September.
It’s far from clear when or how quickly New York can release those funds.