State Housing Trust Fund is Working – Let’s Build on Success!
Nearly $8.5 million is going to put safe, affordable housing in reach of more Pennsylvanians in 22 counties, thanks to the PA Housing Affordability and Rehabilitation Enhancement (PHARE) Fund. The recently awarded funding comes from impact fees in the Marcellus Shale region and will be returned to projects in those areas. LAMPa is working with housing partners to expand the Pennsylvania State Housing Trust Fund to create jobs, strengthen communities and prevent homelessness.
The Board of Directors of the Pennsylvania Housing Finance Agency recently approved $8.45 million in funding for 34 housing programs and projects from rental assistance to blight prevention and housing rehabilitation. Click here to see the complete list.
LAMPa is working with our housing coalition partners to build on success by expanding the Pa. State Housing Trust Fund to create jobs, strengthen communities and prevent homelessness in the entire state. We seek a dedicated revenue source that would add $25 million annually to the fund to leverage investments for a total economic impact of $400 million a year.
Expansion could create an estimated 3,000 jobs. Communities have flexibility in their use of the funds, depending on local need. For example, in one year, the fund could be used to provide rental assistance to 2,500 households facing homelessness, rehab 1,700 rental homes of low-income Pennsylvanians, modify1,700 homes to prevent costly nursing home placements or stabilize neighborhoods by demolishing 2,500 blighted properties.