Treasury votes in favor of proposal to award funds to nearly every PA county
Harrisburg, PA - The Pennsylvania Housing Finance Agency approved nearly $45 million in grants to be used for creating, rehabilitating and supporting affordable housing initiatives in Pennsylvania communities.
“These grants will positively impact nearly every corner of the Commonwealth at a time when many Pennsylvanians are struggling to pay their rent and get back on their feet,” said Pennsylvania Treasurer Stacy Garrity, a member of the PHFA Board of Trustees. “The funding will help individuals, and it will also support communities and their ability to make sure their residents have affordable housing options.”
Pennsylvania State Treasurer, Stacy Garrity
PHFA approved nearly $45 million in grants under the Pennsylvania Housing Affordability and Rehabilitation Enhancement Program (PHARE) at Thursday’s board meeting. The grants will cover 223 projects impacting all 67 Pennsylvania counties, including 13 regional and five statewide awards. Treasurer Garrity’s designee on the PHFA board, former Deputy Treasurer for Fiscal Operations Keith Welks, voted in favor of the proposal.
PHARE was established by Act 105 of 2010 (the “PHARE Act”) and allows state and federal funds and funds from outside sources to be used to create, rehabilitate and support affordable housing initiatives in Pennsylvania communities. Specific projects can include providing homes for rent or purchase to those with low- and moderate-income, increasing availability of quality affordable housing for elderly residents, increasing availability of accessible housing for those with disabilities, developing/rehabilitating distressed neighborhoods, mortgage or rental assistance, or providing funds to low- and moderate-income homeowners for repairs.
PHARE is funded by Marcellus Shale impact fees, realty transfer taxes, and the National Housing Trust Fund. PHARE projects fall into seven target categories including tax credits, homeless prevention, homeownership, housing counseling and financial education, innovative housing solutions, preservation/rehabilitation/renewal, and rental housing creation.
A map showing the location of approved projects can be found here, and summaries of the approved projects are available here. Organizations, including local government agencies, authorities or entities and many non-profit organizations make up the majority of applicants to the PHARE program. To learn more about PHARE please visit PHFA’s website.