PHFA seeks proposals for housing projects by Nov. 15 in Pennsylvania

On September 16, 2024, the Pennsylvania Housing Finance Agency (PHFA) announced a Request for Proposals (RFP) for housing projects aimed at enhancing the availability and affordability of housing throughout Pennsylvania. The funding, exceeding $75 million, is sourced from the Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) Fund, which derives its resources from impact fees on natural gas drilling and a portion of the Realty Transfer Tax. This initiative is open to all 67 counties in Pennsylvania, emphasizing the importance of local organizations in the application process. The application process has been streamlined to an entirely online format, allowing for easier submissions without the need for paper documentation. Interested organizations can access the RFP and submit their applications through the PHFA website, with the deadline set for 2 p.m. on November 15, 2024. A webinar will also be available for those who wish to learn more about the application process, ensuring that potential applicants have the necessary resources to participate. Since its inception in 2012, the PHARE fund has significantly impacted local housing initiatives, resulting in the rehabilitation and preservation of thousands of housing units, the creation of new homes, and support for households at risk of homelessness. The fund has allocated approximately $290 million in grants, leveraging over $1.6 billion from other funding sources, demonstrating a strong return on investment for housing initiatives across the state. The PHFA, established in 1972, continues to play a crucial role in providing affordable housing options for various demographics, including low- and moderate-income families and older adults. Its ongoing efforts reflect a commitment to addressing housing needs and improving community welfare throughout Pennsylvania.