PHFA Issues PHARE RFP to Fund Local Housing Initiatives

Please see the article below that was shared by the Pennsylvania Housing and Finance Agency (PHFA) regarding their Pennslyvania Housing Affordability and Rehabilitation Enhancement (PHARE) Fund:

HARRISBURG – 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 is $39.6 million.

PHARE receives its funding from a number of sources. These include the impact fee levied on natural gas companies, a portion of the Realty Transfer Tax, and money from the National Housing Trust Fund. Funding is available for housing initiatives in all of Pennsylvania’s 67 counties. PHFA is charged with administering the allocation of PHARE dollars.

“The success of the PHARE program to date has been grounded in the decision to let local governments and organizations determine where the greatest need and opportunity is for affordable housing investments,” said Brian A. Hudson Sr., PHFA executive director and CEO. “That’s why it’s so critical in this RFP that we hear from local groups who know firsthand what’s happening in their communities and how best to respond. We need their input to make the best use of these housing dollars.”

New this year for PHARE is an application process that can be completed entirely online, eliminating the need for paper submissions and simplifying the process for applicants and the evaluation staff. The RFP is located on PHFA’s website at www.phfa.org, and the application is accessible at https://phare.phfa.org/. Applications are due to PHFA no later than 2 p.m. on Friday, Nov. 16.
PHFA is planning two informational webinars for groups interested in applying for PHARE funds. Both webinars will cover the same information. Webinar dates and times are:

Sept. 20 – 10 a.m. to 11:30 a.m.
Oct. 4 – 2 p.m. to 3:30 p.m.

Interested groups are encouraged to watch the PHARE webpage for links to be posted for webinar registration. The PHARE webpage is available on the PHFA website at www.phfa.org; click on the PHARE link at the bottom of the page under “Resources.” Questions may also be directed to Bryce Maretzki at PHFA via email at bmaretzki@phfa.org 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:
• 5,796 individuals and families have received rental or utility assistance
• 1,772 homes have been rehabilitated and preserved for continued use
• 1,240 new rental units have been created
• 112 new single-family homes have been constructed
• 353 future home sites have been prepared through site acquisition and demolition
• 160 homeowners are receiving purchase assistance
• PHARE funds have been used to leverage an additional $470 million investment in housing in Pennsylvania

About PHFA
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 $13.9 billion of funding for more than 173,000 single-family home mortgage loans, helped fund the construction of 134,507 rental units, and saved the homes of more than 49,400 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.

Posted in Eastern COC, Western COC.