PHFA Program Will Fund Five Mixed-Use Projects in 2021
Harrisburg, PA (STL.News) Governor Tom Wolf announced that five projects will be awarded $2.2 million for the construction or rehabilitation of mixed-used developments. The funding was raised through the sale of tax credits under the Mixed-Use Development Tax Credit Program, the proceeds of which are being used to fund the work of the Community Revitalization Fund Program.
“We believe there is pent up economic demand coming out of the pandemic, and these mixed-use developments can be a part of our economic recovery,” said Governor Tom Wolf. “Investments in our communities are so critical at this point in time, which is why I am pleased to announce the funding for these projects with their potential to provide an economic stimulus.”
The goal of the Community Revitalization Fund Program is to stimulate high-impact neighborhood revitalization projects across the state. This round of funding prioritized applications from smaller cities and communities, including third-class cities.
The Mixed-Use Development Tax Credit Program is administered by the Pennsylvania Housing Finance Agency, and the selected projects were approved earlier today by its board of directors. The list of funding recipients is provided in the table below.