PHARE Fund Boosts Affordable Housing Efforts in Pennsylvania
In a significant move to address affordable housing needs, Governor Shapiro has successfully secured a $10 million annual increase to the Pennsylvania Housing Affordability and Enhancement (PHARE) Fund. This increment is set to continue until 2027, gradually raising the fund’s cap to a noteworthy $100 million.
The Pennsylvania Housing Finance Agency (PHFA) is poised to leverage this increased funding, allowing it to allocate more than $93 million across 432 affordable housing initiatives. This expansion aims to cater to the growing demand for housing assistance across the state.
Governor Shapiro’s initiative underscores a commitment to ensuring that housing remains accessible to all Pennsylvanians. The PHARE Fund, which has been instrumental in supporting various housing projects, will now have enhanced capacity to drive impactful change in the community.
For more information on the PHARE Fund and its impact on affordable housing, visit the PA Department of Community & Economic Development website.
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