December 7, 2010 – (RealEstateRama) — State housing leaders will hold a press conference Tuesday, December 7 at 3:00 pm in the Capitol Media Center to urge quick approval of federal funding for the National Housing Trust Fund.
A housing crisis has emerged in Pennsylvania as a result of the influx of workers in the Marcellus Shale region. Nonprofit developers in those areas are ready to build but need this seed money. Other areas of the state need help in creating more housing that seniors and other low-income families can rent.
Although Pennsylvania has a newly enacted state housing trust fund, public and private housing leaders are looking to Congress to fund the program. Congress is considering a $1 billion national housing trust fund, of which about $35-$39 million would come to Pennsylvania. The money would be used as an incentive for developers to rehab and build new work force homes.
The Housing Alliance of Pennsylvania estimates that the bill would produce about 800 construction jobs and stimulate an estimated $90 million to $100 million in new economic activity throughout the state.
Congress has already identified $1 billion in offsets so this program would not increase the deficit.
Speakers at the news conference, including the state House sponsor of the legislation Pete Daley, will explain why the funding is so important to Pennsylvania and how it would be awarded.
State Rep. Pete Daley
Brian Hudson, CEO, PA Housing Finance Association
Liz Hersh, Executive Director, Housing Alliance of PA
Mark Dambly, CEO, Pennrose Properties
Bob Hay, Past President, PA Realtors Association
Lou Biacchi, PA Builders Association
Jeff Iseman, PA Statewide Independent Living Council
When: Tuesday, December 7, 2010 at 3:00 p.m.
Where: State Capitol Media Center, Harrisburg, PA
Kirk Dorn (215) 735-6760; Cell: (215) 704-3653
Nadine Bonner (215) 735-6760; Cell (267) 242-5874