PITTSBURGH--(BUSINESS WIRE)--FHLBank Pittsburgh and the Pennsylvania Housing Finance Agency (PHFA) are partnering for a second year to fund programs across the state that work to address homelessness. FHLBank Pittsburgh is providing $3 million toward the effort, which is called Home4Good, and PHFA is providing $1.5 million, for a total contribution of $4.5 million in 2019.
“FHLBank is pleased to again partner with PHFA on this important community program,” said John Bendel, FHLBank’s Senior Director of Community Investment. “Home4Good’s flexibility and focus on innovative initiatives continue to help Pennsylvania organizations assist individuals who are homeless or at risk of homelessness.”
As in 2018, funding will be distributed as grants to organizations with programs that help people retain or find housing, as well as those that provide supportive services. Interested groups are advised to submit proposals for Home4Good funding through a participating Continuum of Care (CoC) organization in the state, or directly to PHFA in the event there is not a participating CoC in their local area. All applicants will be teamed with FHLBank member financial institutions to further develop relationships that can help meet the service provider’s future funding needs, which is a long-term benefit of Home4Good. CoC organizations will then review and prioritize incoming proposals for funding consideration by FHLBank Pittsburgh and PHFA.
“We were very pleased with the response last year and want to maintain the positive momentum we’ve created,” said PHFA Executive Director and CEO Brian A. Hudson Sr. “Homelessness represents a major challenge, but by combining all our efforts we’re hoping to move more people into housing.”
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 housing goals and have a track record of success. The deadline for service providers to apply for 2019 funding is Aug. 30.
Interested organizations can participate in either of two Home4Good informational webinars planned for May 22 at 10 a.m. and May 29 at 2 p.m. Additional 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 Kate Swanson 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 $14.2 billion of funding for more than 175,900 single-family home mortgage loans, helped fund the construction of 134,507 rental units, and saved the homes of nearly 49,690 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.