SCRANTON, July 11, 2019 – State Sen. John Blake and state Rep. Mike Carroll today announced that three local affordable housing projects in Lackawanna and Luzerne County received over $1.2 million in funding through the Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) fund.
“The affordable housing investments announced today by the PA Housing Finance Agency (PHFA) are important for our region and will serve our citizens for years to come,” Blake said. “With a combination of PHARE funds and low-income housing tax credits, the critically important Dupont Housing for the Elderly project will now be able to move to completion.”
This project, which received $674,400 in PHARE grant funds, was also awarded a federal low-income housing tax credit allocation that will be worth up to $8.1 million. The $10 million Dupont Housing project will consist of 36 one-bedroom units for area seniors – 19 units will have Section 8 rental subsidies through the Luzerne County Housing Authority and four will be fully accessible units for persons with disabilities.
“I am thrilled that the PHFA recognized the importance of the Dupont Housing project to Greater Pittston,” Carroll said. “Dupont Borough had the foresight to obtain a former school building for the sole purpose of developing housing for our elderly population and the award of PHARE funds and low-income housing tax credits allows this project to proceed.”
Additionally, the Goodwill at North Gerard T. Langan Apartments received $500,000 in PHARE funds to close the funding gap for the over $20 million project. This facility includes 58 completely renovated senior apartments which are currently home to 63 individuals.
“The preservation of the former North Scranton High School – now on the National Register of Historic Places – has been instrumental in revitalizing North Scranton and restoring pride in an important historical asset in our community,” Blake added.
Finally, the St. Frances Cabrini Apartments in Scranton received $100,000 in PHARE funds to replace the roof and rear doorway of a sixteen-unit federally subsidized project that provides affordable housing to seniors and individuals with disabilities.
Across the Commonwealth, 39 affordable multifamily housing developments received $41.6 million in low-income housing tax credits and $7.7 million in PennHOMES funding. Additionally, 211 housing and community development initiatives in all 67 counties will share a portion of the $51.2 million in PHARE funding.
The PHARE fund is managed by the Pennsylvania Housing Finance Agency. Since 2012, the program has received a portion of the impact fees collected from natural gas companies operating in the state with the goal of addressing an affordable housing shortage caused by the economic impact of drilling. Those funds are supplemented by two new funding sources including a portion of realty transfer taxes and money from the National Housing Trust Fund. PHARE funding was increased by $15 million with the most recent adoption of the 2019-2020 state budget.
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