Senator Art Haywood made the following statement on the passage of legislation providing additional funding to the Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund (Housing Trust Fund):
HARRISBURG, June 30, 2015: “I am elated to join my colleagues voting in favor of funding for affordable housing across our commonwealth. Today, we passed legislation that will finance the Housing Trust Fund through a share of the state real estate transfer tax. There will be no increase in the real estate transfer tax; a portion of revenue from the existing tax will simply be transferred to the Housing Trust Fund to create affordable housing. Pennsylvania is in desperate need of increased affordable housing options.
According to the Federal Reserve Bank of Philadelphia, we have a statewide shortage of 266,000 rental homes that are both affordable and available to households earning about $20,000 or less. At the same time, we have communities with blighted homes in need of revitalization. These abandoned properties can become affordable homes for our neighbors. Today’s legislation provides the Housing Trust Fund with the dollars to needed to create dignified living options to neighbors in need.”
Contact: Melissa Ostroff