Press Release from the PA Housing Finance Agency (PHFA)
Application window opening soon for $100M Housing Options Grant Program
Funding is intended to promote the creation or rehabilitation of more affordable rental housing
HARRISBURG, PA – The Pennsylvania Housing Finance Agency today has posted the final guidelines for
the $100 million Housing Options Grant Program that is intended to provide a new affordable housing
development tool to PHFA’s existing portfolio of housing resources by making additional money
available to create or preserve more affordable rental housing in the state.
This is the first year of this program which will fund the construction of new affordable rental units, the
rehab and preservation of currently existing affordable apartments, and emergency repairs to existing
affordable rental units. The agency wants to alert the public that the application for this funding will be
posted online in coming weeks. Interested parties can read the guidelines and begin making
preparations for their submissions.
It’s important people get ready now if they plan to apply because the application window may only be
open for a month or two. The funding connected with this program must be awarded by the end of 2024.
Funding for the Housing Options Grant Program comes from the American Rescue Plan Act.
“This funding provides a valuable opportunity to create more affordable rental housing at a time when
the demand is greater than ever,” said PHFA Executive Director and CEO Robin Wiessmann. “The
application portal should open in a month or so, and we want to give people an opportunity to begin
preparing now so they can present their strongest proposal for funding.”
The Housing Options Grant Program is intended to fund housing that has not already received Low
Income Housing Tax Credit funding or that does not anticipate receiving LIHTC funding during the next
four years. LIHTC developments from 2018 through 2026 will not be eligible to apply. Additionally,
applications for projects that are still in the LIHTC IRS compliance period (initial 15 years) will not be
eligible to apply.
Interested parties are encouraged to review the final guidelines (Under “News 2023” and dated 1/19)
and watch the PHFA homepage at www.PHFA.org for an announcement when the application period
opens in late February or early March.
The Pennsylvania Housing Finance Agency works to provide affordable homeownership and rental
housing options for older adults, low- and moderate-income families, and people with special housing
needs. Through its carefully managed mortgage programs and investments in multifamily housing
developments, PHFA also promotes economic development across the state. Since its creation by the
legislature in 1972, it has generated more than $16.9 billion of funding for more than 191,870 single-family
home mortgage loans helped fund the construction of 141,492 rental units, distributed
approximately $239 million to support local housing initiatives, and saved the homes of more than
50,660 families from foreclosure. PHFA programs and operations are funded primarily by the sale of
securities and from fees paid by program users, not by public tax dollars. The agency is governed by a
14-member board. Housing Options Grant Program application coming soon.