Please ensure Javascript is enabled for purposes of website accessibility Powell introduces bills to help make home ownership possible for more Pennsylvanians and reduce displacement & gentrification

Powell introduces bills to help make home ownership possible for more Pennsylvanians and reduce displacement & gentrification

HARRISBURG, Jan. 30 – State Rep. Lindsay Powell, D-Allegheny, has introduced legislation that would provide money to Pennsylvania individuals and families seeking to own their own home and utilize tax increment financing dollars to keep Pennsylvanians in their homes in TIF-designated districts.

The first of Powell’s bills (H.B. 275) 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.

“As the years go by, the median home price has nowhere to go but up. In March of last year, in fact, it reached nearly $225,000 and shows zero signs of decreasing. Owning a home has become that much more unattainable for Pennsylvanians,” Powell said. “Home ownership, however, helps to achieve a stable and sustainable livelihood for neighbors and their families. My bill would benefit everyone who calls this Commonwealth home.”

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)

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.

Powell’s second bill (H.B. 359) would update the Tax Increment Financing Act and allow designated districts to fund affordable housing, foreclosure and rental assistance, and workforce programs with money generated from these districts. The bill would also increase the lifespan of TIF districts from 20 to 25 years and be a valuable tool in preventing the displacement of longtime owners and occupants.

“Housing is a necessity which everyone must have equal access to. Through this new construction, we can increase investments in workforce development to help more of our neighbors provide for themselves and their families,” Powell said. “We’re giving municipalities more tools to help residents with this expansion, which will make our communities better off as the projects progress.”

Both bills have been referred to the PA House’s Housing and Community Development Committee.