Boston Mayor Michelle Wu announced today that the city will allocate the remaining $7 million of its $558 million in federal pandemic relief funds towards initiatives aimed at assisting residents with housing affordability and supporting small businesses impacted by the COVID-19 pandemic.
Wu stated that the funds will be used to address the urgent needs of Boston residents who are struggling to afford housing in the city’s competitive real estate market. The allocation will also support small businesses that have been most affected by the economic challenges brought on by the pandemic.
This decision comes as part of Wu’s broader strategy to prioritize the most vulnerable residents and businesses in the city as it continues to recover from the impacts of the pandemic. In making this announcement, Wu emphasized the importance of ensuring that the relief funds are targeted to those who need them the most and will have the greatest impact on the community.
The remaining funds will be distributed through various programs and initiatives designed to provide direct assistance to individuals and businesses in need. This includes rental assistance programs, financial support for small businesses, and other resources aimed at helping Boston residents and businesses recover from the economic downturn caused by the pandemic.
Wu’s leadership in directing these funds towards critical areas of need demonstrates her commitment to supporting the city’s most vulnerable populations and ensuring that Boston emerges stronger from the challenges of the past two years. This targeted investment in housing affordability and small business support will undoubtedly make a significant impact on the city’s recovery efforts.
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