(HARRISBURG) – The Housing Development Corporation (HDC) of Northumberland County has been awarded a Low-Income Housing Tax Credit allocation of just over $1 million, $500,000 through the Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund (PHARE) and $500,000 through the PennHOMES program by the Pennsylvania Housing Finance Agency (PHFA), according to Senator John R. Gordner (R-27) and Representative Kurt A. Masser (R-107).
The credits and other allocations will be utilized for the construction of a 36 unit senior apartment building, called Mountainside Estates, in Coal Township, Northumberland County. The building site is currently a blighted, vacant property adjacent to the Mountain View Nursing and Rehabilitation Center. Mountainside Estates will consist of one and two-bedroom apartments, with some of them being handicap accessible. The project also includes an outdoor community space, which will allow the facility to host community events.
“I want to thank PHFA and its Executive Director, Brian Hudson, for awarding these funds,” said Senator Gordner. “This project will assist many low-income seniors to find quality, affordable housing that will also provide a benefit to the citizens of Coal Township.”
“The clearing of blighted property and providing worthy housing for low-income residents are two very difficult issues to address,” said Representative Masser. “Through this project, we can accomplish both. It has been a lengthy process to get to this point and I would like to applaud the persistence of Ed Christiano and Pat Mack of HDC for making it happen.”
The Low-Income Housing Tax Credit Program is a federal program originally created by the 1986 Tax Reform Act. The PHARE Fund was established by the Commonwealth in 2010 and funding for this project will come from a portion of realty transfer taxes that are pledged to the fund. PennHOMES is a zero percent interest, 30-year term loan program. The Pennsylvania Housing Finance Agency is responsible for the administration of these programs in the Commonwealth. The purpose of the programs is to assist in the creation and preservation of affordable housing for low-income households.
CONTACT: Josh Funk (717) 787-8928