Powell introduces bill to help make owning a home possible for more Pennsylvanians

Pennsylvania House Democratic Caucus    June 26, 2024

HARRISBURG, June 26 – State Rep. Lindsay Powell, D-Allegheny, has introduced a bill that would provide money to Pennsylvania individuals and families seeking to own their own home.

Powell’s legislation (H.B. 2454) would establish the Affordable Homeownership Program under the state Department of Community and Economic Development. The program would award grants to sponsoring organizations, who would then provide the funds to individuals or households with annual incomes between 60% and 120% of the area median income.

Qualifying applicants would be able to use these funds for projects such as:

  • Home purchasing assistance programs.
  • Home repairs.
  • Work force housing programs.
  • Acquiring residential properties.
  • Designing and constructing properties.
  • Asset management studies of properties.
  • Social and environmental studies of properties.
  • Homeownership education programs.
  • Land trusts acquiring properties (Homeowners would need to maintain at least 40% of the equity on the property).

“The median home price shot through the roof to nearly $225,000 in March of this year and continues to climb. This, combined with other factors, has pushed owning a home away from reality and closer to fantasy for many Pennsylvanians,” Powell said. “Home ownership is not only part of the American dream, it’s crucial to building and fostering strong communities. My bill would benefit PA and all neighbors who call it home.”

Grant awards would be capped at $125,000 per project but how much total money an individual applicant could receive through the grants would not be limited.

It’s anticipated that the bill will be referred to the PA House Housing & Community Development Committee.