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SOURCE Pennsylvania Housing Finance Agency
Deadline for proposals is August 15, 2014
HARRISBURG, Pa., June 9, 2014 /PRNewswire-USNewswire/ -- The Pennsylvania Housing Finance Agency is issuing a Request for Proposals (RFP) today for projects to improve the availability and affordability of housing in the Marcellus Shale region of the state.
The funding to address housing needs comes from Marcellus Shale impact fees. Those fees are directed to, and administered from, the Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) Fund. This year's funding includes $5 million received in 2014 for wells drilled in 2013, as well as Marcellus Shale impact fee funds provided to municipalities that exceeded a certain percentage or dollar amount set by law.
Eligible applicants for the 2014 RFP include Pennsylvania counties that have adopted ordinances authorizing the imposition of an impact fee and that have unconventional gas wells. Also eligible are municipalities that have excess (or spillover) funds deposited into the PHARE Fund, as noted above.
"Our first two years of administering this funding have confirmed the wisdom of letting local governments determine where best to make vital housing investments," said PHFA Executive Director and CEO Brian A. Hudson Sr. "We encourage county and municipal governments to take advantage of this PHARE funding to help them address their most critical housing needs. We will be offering informational sessions to help them with questions about their proposals."
Today's RFP stresses the agency's desire to fund projects that will leverage other funds and partnerships to improve housing in a community. Proposals must ensure that at least 30 percent of any funds awarded will be used to help people or families with incomes below 50 percent of the median area income. Also, proposals cannot serve people or families with incomes above 200 percent of the median area income. Additional requirements are described in detail in the RFP.
PHFA will host two public information sessions during which potential applicants can ask questions and get clarification on the requirements of the RFP. These will be held via webinar on June 26 and July 21. More information about these sessions will be posted on the PHFA website.
The RFP is available on the PHFA website. The deadline for proposal submission is August 15, 2014.
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 nearly $11.6 billion of funding for more than 155,690 single-family home mortgage loans, helped fund the construction of 122,590 rental units, and saved the homes of more than 47,500 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.
Contact: Scott Elliott
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