Application deadline is Nov. 17
HARRISBURG, Pa., Sept. 11, 2023 /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 $65 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.
“Now in its eleventh year, it’s gratifying to see the many ways this funding has been put to work expanding affordable housing options and preserving existing housing,” said PHFA Executive Director and CEO Robin Wiessmann. “The local organizations that apply for PHARE funding have done a terrific job of targeting the dollars to their most pressing housing needs.”
PHARE applications are completed and submitted 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. The online application is accessible on the PHARE website at https://phare.phfa.org/. This website will be open to accept applications starting Monday, Sept. 18. The deadline for application submission is 2 p.m. on Friday, Nov. 17.
PHFA is hosting a 90-minute informational webinar at 10 a.m. on Sept. 19 for organizations interested in applying for PHARE funds. The webinar will be recorded and made available online after the live event.
A link has been posted at https://www.phfa.org/legislation/act105.aspx for webinar registration. Questions may be directed to Clay Lambert at PHFA via email at [email protected].
The PHARE fund has been allocating money for local housing initiatives since 2012. These funds are producing significant housing benefits that include:
- More than 1,200 housing initiatives funded in all 67 counties
- More than 7,200 individuals and families have received rental or utility assistance or other financial/housing counseling or education
- More than 6,500 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
- 480 future home sites have been prepared through site acquisition and demolition
- More than 310 new residents have received assistance to purchase their first home
- PHARE funds have been used to leverage more than $1 billion of investments in housing across Pennsylvania
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 $17.3 billion of funding for more than 193,800 single-family home mortgage loans, helped fund the construction of 103,328 rental units, distributed approximately $239 million to support local housing initiatives, and saved the homes of more than 50,660 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.
SOURCE Pennsylvania Housing Finance Agency