Applications sought for revitalization program

Michael Yoder//August 26, 2019

Applications sought for revitalization program

Michael Yoder//August 26, 2019

(Photo: file)

The Pennsylvania Housing Finance Agency (PHFA) announced Monday that it is pursuing requests of proposals for new construction or rehabilitation of mixed-use projects that need financial support.

The funding, which is provided through the Community Revitalization Fund Program, was created as part of the state’s fiscal year 2017/18 budget and was designed to help facilitate mixed-use projects to serve as a catalyst for neighborhood revitalization. A total of $3 million in state tax credits has been authorized in this year’s budget for the program.

“We’re looking to fund projects that not only will bring a direct benefit to communities but that also have the potential to attract additional investment to areas seeking redevelopment,” said PHFA executive director and CEO Brian A. Hudson Sr. “Our goal is to use this funding in a way that achieves the maximum benefit for communities and stimulates revitalization beyond each individual project receiving financial support.”

Examples cited as projects eligible for program funding include:

  • Rehabilitation of old or under-utilized buildings for re-use by the community.
  • Preparation of buildings for business leasing.
  • Designing or changing buildings for new usage.

Eligible applicants for the program include local government entities, redevelopment authorities, for-profit companies, non-profit groups and economic development organizations. Officials said applications coming from third-class cities will be given higher priority in evaluations.

The deadline for all applicants is 2 p.m. on Oct. 18. For more information go to the PHFA website or contact Bryce Maretzki at 717-780-1867