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Housing Trust Fund Now!

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City Council is considering Bill #050059, to create a Philadelphia Housing Trust Fund! The Philadelphia Housing Trust Fund will raise up to $15 million a year for neighborhood revitalization, affordable housing production, and home repair. It will be a permanent source of funding that will:

• increase City affordable housing production by 60%
• repair nearly 900 additional homes each year
• prevent more than 1,000 families from becoming homeless every year.
• bring $35 million in new outside funding to Philadelphia each year through leverage

The Street Administration and over 100 CDCs, advocacy organizations, banks and community leaders support the Housing Trust Fund, along with the Philadelphia Inquirer and Daily News. To establish the Trust Fund, City Council and the General Assembly both need to pass legislation.

For more information, contact Sue Sierra (ssierra@pacdc.org), Policy Coordinator for the Philadelphia Association of Community Development Corporations.