INDIANAPOLIS — People seeking rental assistance through the state have until Friday to get their applications in. The state agency is stopping new applications as almost all federal funding has been allocated.

On Monday, the Indiana Housing and Community Development Authority (IHCDA) said nearly all the federal rental assistance funds the state got has been requested. They anticipate the funds will soon be fully obligated.

So far, the IHCDA has paid and obligated $365 million to more than 29,000 households. This funding can pay for three months of rent in advance at a time. Each household can get up to 18 months of rent total through the program.

“Through the Emergency Rental Assistance program, we have been able to provide housing stability to more than 29,000 Indiana households,” said Jacob Sipe, Executive Director of IHCDA. “We are appreciative of the federal dollars that were able to keep thousands of Hoosiers in their homes during the pandemic. IHCDA remains committed to providing housing stability for Hoosiers as we recover from the pandemic.”

While the IHCDA says while the funding will soon be fully obligated, they will continue to issue payments to households that have already been approved to the maximum allowable benefit of 18 months. They will also process applications that are in queue and reserve funding until they reach their maximum from the federal funds.

To make sure there is funding available to help households with pending applications, IHCDA will close the IERA application portal and focus on processing and distributing benefits to those households that have applied. The agency said after the portal is closed, people can sign up to receive updates through indianahousingnow.org if the Indiana Emergency Rental Assistance Portal re-opens.