Posted: | June 1, 2022 03:37 PM |
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From: | Senator David G. Argall |
To: | All Senate members |
Subject: | Additional Tools to Fight Blight |
Due to extraordinary increases in the cost of labor, materials, and energy, as well as supply chain factors, many projects funded through the Pennsylvania Housing Finance Agency (PHFA) are in jeopardy. I plan to introduce legislation which will provide additional funding to bring these projects to completion. This legislation would allocate $150 million in American Rescue Plan funds to PHFA to provide gap funding to complete projects which have experienced cost increases, or a loss in equity investment, as the result of the conditions noted above. Many of these projects will replace properties that were blighted, abandoned and decaying. Housing availability is a very serious problem across the Commonwealth. This bill will help address it. Please join me in co-sponsoring this measure. |
Introduced as SB1281