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PA 1 Housing Projects Awarded More than $7 Million in State Aid
On August 13, 2020
PHILADELPHIA, August 13, 2020 – Low-income housing projects in Pennsylvania’s 1st Senate District have been awarded more than $7 million in tax credits and other state funding, state Sen. Larry Farnese announced today.
“These projects range from major construction to modest renovation and community education. They represent the diversity of effort being made in my district to address housing needs,” Farnese said. “The awards were announced after a highly competitive process and I congratulate the applicants for their efforts on behalf of low-income Philadelphians.”
During today’s meeting of the Pennsylvania Housing Finance Agency (PHFA) Board, Low Income Housing Tax Credits (LIHTC) and Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) funding were announced. Money comes into PHARE from three sources: Marcellus Shale Impact Fees, Realty Transfer Taxes and the National Housing Trust Fund.
Projects granted funding in the 1st Senate District range from $2.4 million for the 42-building Lipscomb Square project to $35,000 for Intercultural Family Services to address gaps in community outreach for its Counseling Impact Optimization Initiative.
“Throughout the district we have organizations large and small with the singular goal of ensuring safe and affordable housing for everyone,” Farnese said. “I am honored to have been able to advocate for financial support to help them reach their goals.”
For a complete list of projects in the 1st Senate District, click here.