This is a bailout more so for landlords than renters.
IMO this should be done via a non-refundable property tax rebate. Don't pay property taxes? Then you already get your subsidy on an ongoing basis.
IMO this should be done via a non-refundable property tax rebate. Don't pay property taxes? Then you already get your subsidy on an ongoing basis.
Even better, let them make a deal with the landlords that to opt in you have to allow for a reassessment to “fair market value” based upon the back rent. That will allow pushing the revenue can down the road for another 25 years.
The end result should be a healthier and more dynamic economy that rewards productive activity without subsidizing slumlords.