Wolf Administration Approves Funding to Promote Affordable Housing in Western Pennsylvania
December 14, 2018
Governor Tom Wolf announced the approval of two grants totaling more than $2.2 million in funding to promote affordable housing in western Pennsylvania. The funding comes from the Neighborhood Stabilization Program (NSP).
“Access to affordable housing is one of the biggest issues facing individuals and families with low incomes,” Governor Wolf said. “These grants will make 38 quality homes available to the people in Western Pennsylvania who need it most. It’s an important step to ensure our residents have a high quality of life.”
The first grant in the amount of $2 million was approved for the City of Pittsburgh. In collaboration with the Urban Redevelopment Authority of Pittsburgh, the city will acquire, rehabilitate, and resell 35 abandoned or foreclosed homes, specifically focusing on the areas of greatest need in the city. After the homes are rehabilitated, they will be sold to buyers with less than 120 percent of the area median income. 25 percent of the properties will be reserved to be sold to buyers with less than 50 percent of the median area income.
The second grant in the amount of $238,000 was approved for Washington County. In coordination with the Redevelopment Authority of the County of Washington, the county will acquire, rehabilitate, and resell three single-family homes to income-eligible homebuyers. Like the Pittsburgh grant, the homes will be sold to buyers with less than 120 percent of the area median income. One of the homes will be sold to a buyer with less than 50 percent of the median area income. All homebuyers must also complete a minimum of eight hours of required homebuyer counseling.
NSP provides grants to communities to address the housing foreclosure crisis created by subprime and other problematic mortgage lending. This program is authorized under the federal Community Development Block Grant (CDBG) Program. In addition to promoting affordable housing, the grants also help address blight issues resulting from these abandoned or foreclosed homes.
For more information about the Wolf Administration’s commitment to community revitalization, visit the DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, Twitter, and LinkedIn.