Gov. Wolf Signs Housing Trust Fund Expansion, Act 58

 

 

Thursday, November 05, 2015

For Immediate Release: Gov. Wolf Signs Housing Trust Fund Expansion;

Will Put Homes Within Reach in All 67 Counties

HARRISBURG, PA – Governor Tom Wolf yesterday signed into law an expansion of the Pennsylvania Housing Affordability and Rehabilitation Enhancement Act (PHARE), the State’s Housing Trust Fund. Act 58 of 2015 makes way for safe, affordable homes for Pennsylvanian in all 67 counties and creating economic opportunities in the process create.

PHARE provides funds to support quality homes that are affordable to seniors and people with disabilities, veterans and low-wage working families. It is also used to reclaim blighted houses and combat homelessness.

The newly signed legislation will expand the Housing Trust Fund’s revenue and reach to all 67 counties with revenue drawn from future growth in the existing Realty Transfer Tax, redirecting it back into the residential real estate market. Until now PHARE was funded by a portion of Marcellus Shale drilling impact fees and was limited to use by the 37 Pennsylvania counties that host drilling wells.

“PHARE has proven to be a success in providing housing security and opportunity for those in need,” said Liz Hersh of the Housing Alliance of PA. “With the Governor’s signature, we will now have an even stronger and wider reach throughout the Commonwealth. It builds on success.”

The legislation expanding the Housing Trust Fund passed the General Assembly with broad bipartisan support winning a combined 242-1 vote in both chambers.

Since its start 2012, $34 million in PHARE funds are assisting over 4,000 families through the home rehab and repair, rental assistance, development and expanded homeownership. It is leveraging an additional $221 million investment from other sources. More than 500 jobs have been created.

For more information on the state Housing Trust Fund, visit www.homesnotblight.org.

The Housing Alliance of Pennsylvania
is a non-partisan, statewide public interest advocate working to help increase the supply of safe, affordable and accessible homes available to all Keystone State residents – especially those with low incomes, including veterans, elderly and disabled individuals. By serving as a central information hub for housing advocates, providers and the media and seeking ways to collaborate with local, state and federal policy makers, the Housing Alliance helps Pennsylvania’s most vulnerable residents find stable, secure homes and use it as the foundation of prosperity.  For more information, visit
www.HousingAlliancePA.org.