The Pennsylvania Housing Finance Agency (PHFA) is seeking proposals for mixed-use projects seeking financial support through the Community Revitalization Fund Program.
Mixed-use projects combine residential housing with retail and/or commercial space in the same building.
Projects that eligible include preparing commercial build-out and business lease space, providing additional housing by combining uses in a single, newly constructed or renovated building, the rehabilitation of older or under-utilized buildings for immediate re-use, and the design or structural and legal conversion of, existing buildings.
Those eligible for funding include redevelopment authorities, local governments, economic development organizations, for-profit firms, and nonprofit groups.
“We’re looking to fund projects that not only will bring a direct benefit to communities, but that also have the potential to attract additional investment to areas seeking redevelopment,” Brian A. Hudson Sr., PHFA executive director and CEO, said. “Our goal is to use this funding in a way that achieves the maximum benefit for communities and stimulates revitalization beyond each individual project receiving financial support.”
PHFA promotes economic development and works to provide affordable homeownership and rental housing options for older adults and low- and moderate-income families.
The state’s fiscal year 2017-2018 budget created the Community Revitalization Fund Program.
The submission deadline is Oct. 18.