PITTSBURGH & HARRISBURG, Pa.--(BUSINESS WIRE)--FHLBank Pittsburgh and the Pennsylvania Housing Finance Agency (PHFA) announced today that 15 Continuum of Care (CoC) providers from across the state have confirmed their participation in the Home4Good program.
Created by FHLBank Pittsburgh and administered by PHFA, Home4Good funds Pennsylvania programs that help individuals who are homeless or are at risk of homelessness. The goal is to reduce homelessness in the state. This year, FHLBank Pittsburgh provided $3 million toward the effort and PHFA provided $1.5 million, for a total contribution of $4.5 million.
“FHLBank is extremely pleased to partner with PHFA on this program,” said Winthrop Watson, FHLBank’s President and Chief Executive Officer. “The program is flexible and will focus on innovative initiatives to combat homelessness.”
Home4Good funding will be distributed as grants to organizations that help individuals retain or find housing, provide supportive services to those facing homelessness or address other unmet needs within the existing homeless provider network. Service providers seeking funding should apply through one of the 15 participating CoC organizations, or directly to PHFA in the event there is not a participating CoC in their local area. CoC providers will review and prioritize incoming applications for funding consideration by FHLBank and PHFA. A list of participating Pennsylvania CoCs is available at www.phfa.org.
Many organizations qualify to apply for funding, including local governments, nonprofits, housing authorities and others. Successful Home4Good applicants will offer programs that prevent or reduce homelessness, collaborate with others to address established goals and have a track record of success. The revised deadline for groups to apply for 2018 funding under the Home4Good initiative is Sept. 28.
“There are many effective programs across the state that have already successfully helped people find or stay in homes,” said PHFA Executive Director and CEO Brian A. Hudson Sr. “This collaboration with FHLBank Pittsburgh seeks to financially support those efforts so that organizations can do even more to tackle this issue.”
Information about Home4Good is available at www.fhlb-pgh.com, and at www.phfa.org at the bottom of the homepage, under “Resources.” Interested organizations can also contact John Bendel at firstname.lastname@example.org or Bryce Maretzki at email@example.com for details.
About FHLBank Pittsburgh
As an intermediary between global capital markets and local lenders, FHLBank Pittsburgh provides readily available liquidity, as well as affordable housing and community development opportunities, to member financial institutions of all sizes in Delaware, Pennsylvania and West Virginia. The Bank is part of the Federal Home Loan Bank System, which was established by Congress in 1932 and serves as a reliable source of funds for housing, jobs and growth in all economic cycles. To learn more, visit www.fhlb-pgh.com.
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 $13.9 billion of funding for more than 173,000 single-family home mortgage loans, helped fund the construction of 134,507 rental units, and saved the homes of more than 49,300 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.