The ultimate goal is to build more affordable housing through the synergies created
HARRISBURG, Pa., May 20, 2022 /PRNewswire/ — The Pennsylvania Housing Finance Agency today announced that it is one of six housing finance agencies (HFAs) nationwide to have received a grant to develop strategic partnerships with hospitals and other health organizations to fund affordable housing.
Grants are the foundation of the NCSHA-sponsored program Healthy Housing, Healthy Communities (H3C) Partnership Initiative, which aims to leverage the role of state HFAs at the center of the affordable housing system to attract significant participation from healthcare facilities and elevate leadership at the community level to address the deepening affordability crisis housing in America.
“The link between stable housing and health outcomes is clear, and it provides even greater incentive to ensure that affordable housing is widely available in our communities,” said the Executive Director and CEO of the PHFA. Robin Wiesman. “We are grateful for this funding so that we can build stronger relationships between PHFA and healthcare organizations to advance our common interests.”
The other five public housing finance agencies that received funding are: Colorado Housing and Finance Authority, Illinois Housing Development Authority, Nebraska Investment Finance Authority, Rhode Island Housing and washington state Housing Finance Commission.
“Each of these leading agencies has a vision to engage leading health institutions serving their states in new ways to generate increased investment in housing construction and rehabilitation that responds to community priorities and participation. local community,” said NCSHA executive director Stockton Williams.
Funded by the Robert Wood Johnson Foundation, the grants will enable state HFAs to perform the planning, due diligence, and outreach necessary to secure significant financial commitments from hospitals and healthcare organizations, which the agencies will complement with their own funding. Community organizations will play a key role in each partnership.
“The Robert Wood Johnson Foundation believes that state housing finance agencies are uniquely positioned to build deeper and more impactful connections between the housing and health sectors, resulting in more capital for affordable housing,” said Kimberlee Cornet, director of impact investments for the foundation. “Our investment will help HFAs test and refine approaches that we hope can be replicated and scaled up across the country.”
The Center for Community Investment (CCI) will partner with NCSHA to support H3C, drawing on its experience across the country to help healthcare facilities and their partners put their resources to work for their systems. local community investment.
“While CCI has supported healthcare facilities investing in affordable housing over the past few years, one of the most important things we have learned is that partnerships, both with the public sector and with residents of the community, are critical to the success of this work and its impact on health equity,” said CCI Chief Executive Robin Hacke. “We are excited to help the H3C initiative encourage more such partnerships and create new opportunities for upstream investment to improve community health.”
About the NCSHA
For more than 50 years, public housing finance agencies (HFAs) have played a central role in the country’s affordable housing system, providing finance to enable the purchase, development and rehabilitation of homes and businesses. affordable rental apartments for low and middle incomes. households. The National Council of State Housing Agencies (NCSHA) is a nonprofit, nonpartisan organization established to advance, through advocacy and education, the efforts of state HFAs nationwide and their partners to provide affordable housing. to those who need it.
The Pennsylvania Housing Finance Agency works to provide affordable homeownership and rental housing options for seniors, low- and middle-income families, and people with special housing needs. Through its carefully managed mortgage programs and investments in multi-family housing developments, PHFA also promotes economic development throughout the state. Since its creation by the legislator in 1972, it has generated more than $15.9 billion the financing of more than 186,412 mortgage loans for single-family homes, made it possible to finance the construction of 138,000 rental units, distributed approximately $191 million to support local housing initiatives and saved the homes of over 50,520 families from foreclosure. PHFA’s programs and operations are funded primarily by the sale of securities and by fees paid by program users, not by public funds. The agency is governed by a 14-member board of directors.
Tracy Kaufman, NCSHA
Lisa Bowman, NCSHA
SOURCE Pennsylvania Housing Finance Agency