Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) announced a new round of funding for housing and community development programs throughout the commonwealth.
Pennsylvania Housing Finance Agency (PHFA) announces new funding for 245 housing and community development initiatives in 67 counties. Each will share a portion of the total $48.4 million in PHARE funding for 2021-22. often referred to as the state’s Housing Trust Fund, PHARE receives most of its funding from the impact fees collected from natural gas companies operating in the state and from a portion of the realty transfer tax. The Pennsylvania Housing Finance Agency manages it.
“This program ensures that communities are able to preserve existing housing and create new housing so all Pennsylvanians have access to affordable, safe housing statewide,” said Gov. Wolf. “This funding will ensure that the money is applied where the need is greatest and can accomplish the most good.”
According to a press release by the PHFA, they anticipate that today’s PHARE funding will impact Pennsylvania households through a variety of affordable housing efforts including:
- 249 units rehabilitated/preserved through the funding of 4% tax credit projects
- 71 new single-family homes to be created
- 419 potential new homebuyers to receive down payment and closing cost assistance
- More than 12,000 families/households to receive housing counseling and financial education
- 74 housing units created or rehabilitated specifically for households in danger of homelessness
- 5,289 affordable housing units to be preserved/rehabilitated
- 449 new, affordable housing units to be created with PHARE funds
- More than 12,600 households in danger of homelessness to be assisted by PHARE-funded programming
“When you look at different local organizations and their use of PHARE funding, what’s most impressive is their variety of applications to address housing needs,” said PHFA Executive Director and CEO Robin Wiessmann. “Every community has different housing priorities, and PHARE gives them the flexibility to target the money to where it can be most effective.”
Of the newly approved funds, Monroe County organizations will receive a total of $550,000. Redevelopment Authority of the County of Monroe will receive $300,000 for the Monroe County Senior Housing Rehabilitation Program and $150,000 for the Monroe County Land Bank. Family Promise of Monroe County will receive $100,000 for Project New Beginnings.
View a complete list of reserved funds here.
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