Philadelphia Housing Trust Fund

Posted by on April 7, 2006

PACDC is pleased to announce that the Philadelphia Office of Housing and Community Development is releasing a Request for Proposals today for $6 million in Philadelphia Housing Trust Fund resources to support the development of rental and homeownership housing. Priority for funding for this RFP will be given to projects that are ready to go and can spend funding upon approval. The City expects to issue a HTF Request for Proposals for housing development annually, prepared in cooperation with the Housing Trust Fund Oversight Board. Projects that are not ready to go should respond to the FY 2007 HTF RFP. Developers intending to submit financing applications to the Pennsylvania Housing Finance Agency, either for Homeownership Choice Program funds in August 2006 or for Low Income Housing Tax Credits for rental developments in October 2006, should respond to this RFP.

The proposal deadline is no later than 4:00 p.m. on Monday, May 15, 2006.

Interested parties are REQUIRED to attend a briefing session:

Wednesday, April 26, 2006
10:00 a.m.
OHCD Board Room
1234 Market St., 17th floor
Philadelphia, PA 19107

A hard copy of the RFP can be obtained from the OHCD office at 1234 Market Street, 17th Floor. In addition, all information is posted on the OHCD web site (<a href="http://www.phila.gov/ohcd">http://www.phila.gov/ohcd</a>). Following is a summary of the RFP.

The Office of Housing and Community Development (OHCD) is soliciting proposals to finance the development of rental and homeownership units designed to serve low-, moderate-, and middle-income Philadelphia residents, using funding from the newly-established Philadelphia Housing Trust Fund (HTF). The HTF was created in 2005 through state and city legislation and by executive order of Mayor John F. Street. The HTF?s goals are to increase the availability of affordable and accessible housing through the production of affordable housing, the creation of accessible and visitable housing, the preservation of existing affordable housing, and the prevention of homelessness.