Introducing the New PHARE Funding Opportunities for Housing
The Pennsylvania Housing Finance Agency (PHFA) is excited to announce a new funding opportunity that aims to improve housing availability and affordability across the state. This initiative encourages organizations to submit proposals for projects designed to address urgent housing challenges in their communities.
PHARE Funding Overview
This year, over $75 million is available for funding, sourced from the state's impact fee on natural gas drilling companies and a portion of the Realty Transfer Tax. This funding is accessible to all 67 counties in Pennsylvania, underscoring PHFA's commitment to ensuring that vital housing resources reach every community.
Eligibility and How to Apply
This year, a notable change is that affordable housing projects previously awarded 9% Low-Income Housing Tax Credits are now encouraged to apply for PHARE funding. This expansion aims to promote stronger collaboration between PHFA and local organizations focused on enriching their communities.
What Sets PHARE Apart?
According to Robin Wiessmann, PHFA's Executive Director and CEO, a unique aspect of the PHARE initiative is its collaborative approach. Local organizations play a key role in deciding how funds are allocated. This community-driven strategy maximizes the impact of PHARE funding, ensuring it meets specific local needs. “Our agency is proud to empower local partners to tackle housing challenges more effectively,” Ms. Wiessmann remarked.
Making the Application Process Easier
To simplify the application process, PHFA has moved to a completely online submission platform. This shift not only removes the hassle of paper applications but also makes it easier for applicants to navigate the Request for Proposals (RFP) process. Organizations can find detailed information and start their online applications on September 16, with submissions due by 2 p.m. on November 15.
Informational Webinars for Applicants
To help organizations through the application process, PHFA is hosting two identical webinars. Scheduled for 10 a.m. on September 17 and September 24, these sessions will provide valuable insights and guidance to improve proposals. For those who can’t attend live, recordings will be made available afterwards.
Questions and Clarifications
Prospective applicants can reach out to Clay Lambert at PHFA via email for any questions regarding the PHARE initiative or webinar registration. This direct communication channel ensures that organizations get the assistance they need to craft the best applications possible.
A Look Back: PHARE's History and Successes
Since its establishment in 2012, the PHARE fund has been a vital supporter of local housing initiatives. The funds have made a significant difference in improving housing conditions across the state. So far, many housing units have been rehabilitated or created, helping families in need while working to prevent homelessness.
Magnifying the Impact Through Funding
Throughout its history, the PHARE initiative has allocated an impressive $290 million in grants. This funding has drawn in more than $1.6 billion from various other sources, showcasing a commitment to achieving sustainable housing solutions through collaborative efforts between government funding and local organizations.
Discover More About PHFA
The Pennsylvania Housing Finance Agency is dedicated to promoting affordable housing solutions. Since 1972, it has facilitated nearly $18.5 billion in home mortgage funding and supported the construction of over 100,000 rental units. Notably, PHFA operates mainly through self-generated revenue rather than public tax dollars, which reflects its effectiveness and commitment to housing finance.
Frequently Asked Questions
What is the PHARE funding program?
The PHARE funding program is designed to enhance housing availability and affordability in Pennsylvania by supporting local projects.
How can organizations apply for PHARE funding?
Organizations can apply for funding using an online application process that begins on September 16, with the deadline for submissions on November 15.
What types of projects are eligible for PHARE funding?
Eligible projects include those aimed at improving housing availability and affordability, such as new constructions and the rehabilitation of existing homes.
Who manages the PHARE program?
The PHFA is responsible for administering the PHARE funding, ensuring that it effectively reaches local communities in need.
How has PHARE funding impacted local communities?
Since its inception, PHARE funding has resulted in the rehabilitation or creation of thousands of housing units, directly benefiting families and individuals in need of affordable housing.
