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For Immediate Release
March 26, 2009
Contact: Adam Pankake
(717) 787-3280
Senate Panel Approves Senator Yaw’s Housing Trust Fund Legislation
(HARRISBURG) Legislation establishing the
Pennsylvania Housing Affordability and Rehabilitation Program (PHARE) has been
approved by the Senate Urban Affairs and Housing Committee, according to its
chairman Sen. Gene Yaw, R-Loyalsock.
"The bill was approved by a unanimous vote," Yaw
said. "Senate Bill 599 will now go to the floor of the Senate for its
consideration."
PHARE is a crucial part of our overall effort to
improve our economy and provide affordable housing to Pennsylvania residents Yaw
said.
This bill, if approved would have Pennsylvania
join 38 other states that have created similar housing trust funds."
"The need is very great. More than 15,000
Pennsylvanians are homeless and over 32,646 Pennsylvania mortgages were in
foreclosure at the end of 2007," Yaw said. "Almost half the families who rent
pay greater than 30% of their income for housing, leaving few dollars left to
cover other family needs. And more than 90,000 families statewide are on the
housing authority waiting lists."
Yaw said the program would allow PHFA to develop
resources to build, rehabilitate and preserve homes for low to moderate income
individuals and families, the elderly, and people with disabilities.
The legislation also allows construction,
rehabilitation and repair of homes, rental assistance, foreclosure prevention
and counseling costs.
"Because Pennsylvania is facing a huge revenue
shortfall, this bill does not include an appropriation," the 23rd District
Senator said. "But it does create the framework for a trust fund that will be
in place to receive state and federal money when our economy gets back on
track."
"With this important framework in place,
Pennsylvania will be able to add to the trust fund. The end result will be new
jobs and tax revenue, and more importantly, affordable homes for many
Pennsylvanians who need a decent place to live," he said. | 
