PHFA issues RFP for PHARE funding to support local housing initiatives

Rezul News/10543285
HARRISBURG, Pa., Sept. 14, 2021 /PRNewswire/ -- The Pennsylvania Housing Finance Agency today is issuing a Request for Proposals soliciting applications from organizations for projects to improve the availability and affordability of housing across the commonwealth. Funding for this RFP is being provided through the Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) Fund. The total PHARE funding available this year exceeds $45 million.

PHARE receives its funding from the impact fee levied on natural gas drilling companies and a portion of the Realty Transfer Tax. Funding is available for housing initiatives in all of Pennsylvania's 67 counties. PHFA is charged with administering the allocation of PHARE dollars.

"Over the past nine years, the PHARE program has grown to become one of our most successful programs for funding the preservation and addition of affordable housing in the commonwealth," said PHFA Executive Director and CEO Robin Wiessmann. "Organizations in all 67 counties have been excellent partners for their use of PHARE dollars to effectively address local housing needs."

PHARE applications can be completed entirely online, eliminating the need for paper submissions and simplifying the process for applicants. The RFP is located on PHFA's website at https://www.phfa.org/legislation/act105.aspx, and the application is accessible on the PHARE webpage at https://phare.phfa.org/. Applications are due to PHFA no later than 2 p.m. on Friday, Nov. 19.

More on Rezul News
PHFA is planning two, 90-minute informational webinars for organizations interested in applying for PHARE funds. Both webinars will cover the same information. Webinar dates and times are:
  • Sept. 21 at 10 a.m.
  • Sept. 28 at 2 p.m.    

Interested groups are encouraged to watch the PHARE webpage, noted above, for links to be posted for webinar registration. Questions also may be directed to Bryce Maretzki at PHFA via email at [email protected] or by phone at 717.780.1867.

The PHARE fund has been allocating money for local housing initiatives since 2012. These funds have resulted in significant benefits that include:
  • More than 7,200 individuals and families have received rental or utility assistance
  • More than 2,000 homes have been rehabilitated and preserved for continued use
  • More than 2,600 new rental units have been created
  • 180 new single-family homes have been constructed
  • 420 future home sites have been prepared through site acquisition and demolition
  • More than 250 new residents have received assistance to purchase their first home
  • PHARE funds have been used to leverage an additional $800 million investment in housing across Pennsylvania

About PHFA

More on Rezul News
The Pennsylvania Housing Finance Agency works to provide affordable homeownership and rental housing options for older adults, low- and moderate-income families, and people with special housing needs. Through its carefully managed mortgage programs and investments in multifamily housing developments, PHFA also promotes economic development across the state. Since its creation by the legislature in 1972, it has generated more than $15.4 billion of funding for more than 183,500 single-family home mortgage loans, helped fund the construction of 138,000 rental units, distributed approximately $191 million to support local housing initiatives, and saved the homes of nearly 50,400 families from foreclosure. PHFA programs and operations are funded primarily by the sale of securities and from fees paid by program users, not by public tax dollars. The agency is governed by a 14-member board.

Media contact:
Scott Elliott
[email protected]
717-649-6522 (cell)

SOURCE Pennsylvania Housing Finance Agency

Related Links

www.phfa.org
Filed Under: Business

Show All News | Report Violation

0 Comments

Latest on Rezul News