PACDC’s activities have culminated in $180 million to date in new resources for affordable housing and neighborhood economic development.
AARP Releases "Nightmare on Main Street" Report on Foreclosure Crisis and Older Americans
The AARP released a report today chronicaling the severe impact of the mortgage crisis on American citizens over the age of 50. According to the organization, "more than 1.5 million people age 50-plus have lost their homes since 2007 and at least 3.5 million more remain at risk at this most vulnerable stage of their lives." The report exposes the financial vulnerability of many older citizens, and recommended the following adjustments to existing housing policies:
To view the AARP's report in full, click here.
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The Philadelphia Housing Trust Fund has raised nearly $80 million since September 2005 to expand housing opportunities for more than 6,000 Philadelphia families.
The CDC Tax Credit Program has fostered 35 partnerships between businesses and non-profits that is providing $60 million in new funding for CDC neighborhood economic development.
PACDC’s Member Services programming builds capacity of CDCs through technical assistance and training, sharing of best practices, networking, and promotion of the local CDC industry.
The local CDC industry generated $3.3 billion in economic impact in Philadelphia during the past 20 years.
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