From Housing Alliance of Pennsylvania (http://www.housingalliancepa.org/):
Harrisburg—On Friday, July 8th, the Pennsylvania Legislature approved the 2022-23 state budget allocating $375 million in American Rescue Plan (ARP) funding for affordable housing construction, rehabilitation, and repairs.
$125 Million for Whole Home Repairs
$125 million will seed a new Whole Home Repairs Program within the Department of Community and Economic Development. Introduced as SB 1135 by State Senator Nikil Saval, Whole Home Repairs will fill gaps in existing weatherization and repair programs across the state and provide the opportunity to bring repair assistance to every community in the Commonwealth.
$150 Million for Construction Cost Relief
$150 million has been allocated to close funding gaps in LIHTC deals in danger of failing due to rapidly rising costs in materials and labor.
$100 Million for Housing Options Grant Program
A Housing Options Grant Program will be established and administered by the Pennsylvania Housing Finance Agency. Grants will be made to developers or non-profit organization for a project that meets the requirements for an award under Federal Low Income Housing Tax Credit. Grant recipients must agree to provide matching funds of at least 25% of the amount to be awarded. All grants shall be awarded no later than December 31, 2024.
Leave a Reply