PHARE is the Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund.
Also known as the state housing trust fund, PHARE expands opportunity for people and communities in need by funding local housing.
PHARE helps real people and gets real results.
While only four years old, PHARE is a success story—or series of stories. Each is unique, but they all have the same ending —stronger communities and stronger FAMILIES. Some of these stories are highlighted in this “snapshot” report.
Established in late 2010, PHARE received its first money in 2012 from Marcellus Shale Impact Fees (Act 13). The money is dedicated to counties with shale wells. PHARE can receive other sources of funds as well because it’s flexible.
STRONGER FAMILIES AND COMMUNITIES
Over the last three years PHARE has helped almost 2,800 households, providing rental assistance, new and rehabbed homes for purchase and rent, homeowner repairs, home-buyer assistance, and demolition of blighted, abandoned properties to make way for future homes.
PHARE is helping boost local economies. The $26 million invested over the first three years has leveraged an additional $191 million. Housing construction and, even more so, rehab and repair have a substantial economic impact, creating up to 200 jobs for every $10 million spent and generating $2.28 for every dollar spent.
WELL-RUN, TRANSPARENT AND BUILT ON A PLAN
The story of PHARE’s success is well documented because the PA Housing Finance Agency (PHFA) runs it in an open and transparent way. Each year PHFA proposes a plan for the use of the funds, providing the public an opportunity to submit ideas, and the agency follows up with an annual report to the legislature.
PHARE is a success story because it is carriedout by local communities in partnership withlocal nonprofits, landlords, and developers for the benefit of local residents.