PACDC’s activities have culminated in $180 million to date in new resources for affordable housing and neighborhood economic development.
Affordability and Availability of Rental Housing in Philadelphia
The Community Affairs Department of the Federal Reserve Bank of Philadelphia undertook this study, Affordability and Availability of Rental Housing in Pennsylvania, to assess the housing needs of Pennsylvania’s lower-income renter households and to better understand how their needs vary across the state. The study looks at the incidence of housing problems among this group at both the beginning and the middle of the current decade. It also considers the extent to which there were shortages in the number of rental units that were both affordable and available to lower-income renters at these two points in time. The findings strongly suggest that conditions faced by the lowest income renters in Pennsylvania deteriorated from the beginning to the middle of the decade.
To access the study, go to: http://www.philadelphiafed.org/community-development/publications/special-reports/rental-housing/index.cfm
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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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