The Pennsylvania Housing Finance Agency (“PHFA” or “Agency”) announces a Request for Proposals (RFP) inviting applications to participate in the 2018 Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund (PHARE) Program.
The Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund was established by Act 105 of 2010 to provide a mechanism by which certain funds would be used to assist with the creation, rehabilitation and support of affordable housing throughout the Commonwealth. The PHARE Act did not allocate any funding but did outline specific requirements that include preferences, considerations, match funding options and obligations to utilize a percentage of the funds to assist households below 50% of the median area income.
The 2018 PHARE Plan outlines principles and goals of the program, elements of the Plan, application requirements, and the timeline for funding. The current round of PHARE funding will make awards available through the following expected funding sources:
Marcellus Shale Impact Fee (Act 13 of 2012)
Realty Transfer Tax (Act 58 of 2015)
National Housing Trust Fund (Housing and Economic Recovery Act “HERA” of 2008)