House expected to vote on Housing Trust Fund next week

Legislation creating a PA Housing Trust Fund is expected to come up for a floor vote before the PA House of Representatives early next week.

PA Association of REALTORS® (PAR) supports the PA Housing Alliance’s effort to establish a housing trust fund. The fund would provide monies to build, rehabilitate and preserve homes for low- to moderate-income individuals and families, senior citizens and persons with disabilities.

“Now is the time to establish a Housing Trust Fund in Pennsylvania,” said Kimberly Skumanick, PAR’s Legislative Committee chair. “The Commonwealth needs to take advantage of federal stimulus funds that are available to start finding solutions to affordable housing issues without additional taxes.

“The Housing Trust Fund can be used to address affordable housing issues while helping to rebuild the state’s economy by putting properties back on the tax rolls and increasing property values,” Skumanick said.

The PA Housing Finance Agency would be charged with developing programs to build, rehab and preserve homes through the Housing Trust Fund.

“Everyone from young families just starting out to senior citizens on fixed incomes needs safe, affordable housing,” Skumanick added. “This isn’t a new problem but it’s been exacerbated by current economic conditions.”

PAR members will receive a Call-to-Action later this week asking them to send letters of support to their state representatives.