Keystone Today

Last week, Gov. Tom Wolf (D-PA) announced a new round of funding amounting to $48.4 million for 245 housing and community development initiatives in 67 counties through the Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) fund.

According to a June 9 release, the funding is through the Pennsylvania Housing Finance Agency. Funding comes from two main sources: a portion of impact fees collected from natural gas companies addressing the housing shortage due to drilling, and funding also comes through a portion of the realty transfer tax.

“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 Wolf. “This funding will ensure that the money is applied where the need is greatest and can accomplish the most good.” 

There are a variety of ways that the funding will help including: 249 units being rehabilitated and preserved through 4% tax credit projects; 71 new single family homes created; 419 new homebuyers to receive down payments and closing cost assistance; more than 12,000 families or households receiving housing counseling and education; 74 housing units created or rehabilitated for households in danger of homelessness; 5,289 affordable housing units to be preserved or rehabilitated; 449 new, affordable housing units to be created; and more than 12,600 households in danger of homelessness to be assisted.

The PHFA staff also reports that at least 69% of the $48.3 million allocated will be used for housing projects for families with incomes less than 50% of the area’s median income.

“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.” 

The PHFA was created by state legislature in 1972 and has generated more than $15.9 billion in funding for 186,412 single family home mortgage loans, as well as funding the construction of 138,000 rental units and distributing $191 million to local housing initiatives. It has also saved 50,520 families from having their homes foreclosed upon. 

For a list of proposals that are receiving PHARE funding, log onto www.phfa.org/legislation/act105.aspx.