WHAT CAN ORDINARY PEOPLE ACCOMPLISH? Open and see.
<strong>2003</strong> HIGHLIGHTS In <strong>2003</strong>, the <strong>Pennsylvania</strong> <strong>Housing</strong> <strong>Finance</strong> <strong>Agency</strong>: • Reserved $15,000,000 for the Homeownership Choice Program and a new mixed-use program to fund efficient development of affordable houses and dwelling units above street-level commercial facilities in older urban areas of the Commonwealth. The Homeownership Choice Program has gained national attention and was recognized for its success by the National Council of State <strong>Housing</strong> Agencies. • Allocated $23,892,000 of rental housing tax credits that will generate nearly $189,000,000 of actual investment in affordable multifamily apartments. • Under the PennHOMES Program, earmarked $29,742,000 for 1,202 rental units in 27 rental complexes. • Provided $14,664,000 of Homeowners’ Emergency Mortgage Assistance loans to 2,298 families to help keep them from losing their homes to foreclosure. To date, the program has made $323,000,000 of loans to 33,300 families and has been repaid in excess of $170,000,000. • Promoted the understanding of affordable housing among homebuyers, builders, developers, elected officials, real estate professionals, and the general public at more than 60 workshops, seminars, and public meetings. • <strong>Finance</strong>d the purchase of houses for 3,035 <strong>Pennsylvania</strong> families with $228,000,000 of funding provided by <strong>PHFA</strong>-issued mortgage securities. At the end of <strong>2003</strong>, the <strong>Agency</strong>’s home mortgage loan financing totaled $5,500,000,000 for 100,000 homebuyers. • Administered $161,000,000 of HUD Section 8 housing assistance payments for families of modest means, senior citizens, and persons with disabilities living in 40,479 subsidized apartments at 524 <strong>Pennsylvania</strong> developments. • As an organization, contributed $43,071 to the <strong>2003</strong> Commonwealth’s United Way Campaign, an average of $169 for each <strong>Agency</strong> donor. Because a number of retirees also made donations in the annual effort, <strong>PHFA</strong>’s participation rate was 106 percent of its workforce. <strong>PHFA</strong> programs have improved the living conditions of one in every twelve <strong>Pennsylvania</strong>ns.