The pandemic has created a renewed sense of urgency to move people out of congregate shelters where the virus spreads quickly. However, the pandemic has also created new challenges when it comes to finding landlords willing to participate in programs that move people from homelessness into permanent housing.
That’s why we’re launching the new Risk Mitigation Fund with a $500,0000 investment from COHHIO’s Pandemic Emergency Fund.
Rapid rehousing and supportive housing are effective tools to help people exit homelessness, but most communities lack the apartments they need to serve everyone who is homeless. The Risk Mitigation Fund assures landlords that they will be compensated if they experience unanticipated costs associated with participating in these programs.
The COHHIO Risk Mitigation Fund is similar to an initiative the Ohio Balance of State Continuum of Care developed last year after receiving a $75,000 grant from Anthem Blue Cross and Blue Shield in Ohio. Like the BoSCoC’s Risk Mitigation Fund (RMF), the aim is to recruit and retain landlords to participate in rapid rehousing and scattered-site permanent supportive housing programs. However, the new RMF will be available for homeless services providers throughout the state.
COHHIO is currently seeking nonprofits to serve as lead agencies to administer risk mitigation funding within their continuum of care or or BOSCoC planning region. The deadline to apply for Phase I funding is Aug. 28.