After weeks of gridlock, Congress passed a new Coronavirus Relief Package to assist struggling Americans. This legislation provides Americans with additional assistance during the COVID-19 pandemic, including expanded unemployment benefits and $600 individual stimulus payments. Congressman Lou Correa condemned partisan gridlock and urged his colleagues to continue working to aid struggling families.
Rep. Lou Correa said, “For months, Americans have been demanding their government help them. Today’s legislation is a step forward that will provide tangible assistance to struggling families, but it will not be enough on its own. We will need more legislation soon. Both sides need to put aside their differences and continue working to find solutions for struggling working families.”
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Updated 12/22/2020 8:07 AM
The $900 billion in pandemic relief that passed the House and Senate late Monday is aimed squarely at shoring up the U.S. economic recovery into the early spring as battered industries and workers face months of continuing struggle.
The funds were combined with $1.4 trillion to fund regular government operations for the rest of the fiscal year, in massive legislation that runs 5,593 pages. It includes other tax, energy and national-security provisions that lawmakers agreed to pass before the end of the year.
The pandemic relief package includes help for small businesses and the jobless along with direct payments to most Americans. It also provides funding for vaccine distribution, food assistance, tax breaks and money for education and child care.
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$12,500,000 in financing for
Windsor Court Apartments and $8,925,000 for Lindsay Commons, two apartment complexes located in Milwaukee, Wisconsin. Both properties are affordable, with all 354 units having Section 8 HAP contracts and Low-Income Housing Tax Credit (LIHTC) restrictions.
Led by Matthew Baptiste, Senior Director, and Jeff Lawrence, Managing Director, Walker & Dunlop arranged the Freddie Mac financing on behalf of the client, Stonebridge Global Partners, LLC. The client is a repeat Walker & Dunlop client but also has a long history with Freddie Mac. Since 2015, Stonebridge has completed over 28 transactions through Freddie Mac and has closed eight loans with the agency in 2020 alone.
Eli Mizrahie, CEO and Managing Partner of Stonebridge Global Partners, LLC, commented, As experienced affordable housing professionals, we appreciate the resilience of the Section 8 platform, and recognize the importance of combining private capital in the preservation of affordable