FHLBank Pittsburgh and the Pennsylvania Housing Finance Agency (PHFA) announced today the 2019 Home4Good funding awarded to programs across the state working to reduce homelessness. This year, FHLBank Pittsburgh provided $3 million toward the effort, and PHFA provided $1.5 million, for a total contribution of $4.5 million. It's the second year of this special joint initiative targeting homelessness.
"FHLBank Pittsburgh's ongoing partnership with PHFA continues to make a meaningful difference in the well-being of the neighborhoods we serve and the lives of our neighbors who live there," said Winthrop Watson, FHLBank Pittsburgh's President and Chief Executive Officer. "Thanks to the support of our member institutions, more than $7 million in Home4Good grants will be directed to local service organizations throughout Pennsylvania, Delaware and West Virginia."
Home4Good was created in 2018 by FHLBank Pittsburgh and is being administered by PHFA. The funding announced today is being distributed as grants to organizations that help individuals retain or find housing, provide supportive services to those facing homelessness or address other unmet needs within the existing homeless provider network.
Distribution of the funding in most counties is being overseen by local Continuum of Care organizations. The list of funding recipients is provided below.
"It's our pleasure to partner with FHLBank Pittsburgh on this initiative," said PHFA Executive Director and CEO Brian A. Hudson Sr. "The organizations we're funding today have demonstrated success in reducing homelessness, and it's our hope that this additional funding will expand the reach of their efforts."
About FHLBank Pittsburgh
As an intermediary between global capital markets and local lenders, FHLBank Pittsburgh provides readily available liquidity, as well as affordable housing and community development opportunities, to member financial institutions of all sizes in Delaware, Pennsylvania and West Virginia. The Bank is part of the Federal Home Loan Bank System, which was established by Congress in 1932 and serves as a reliable source of funds for housing, jobs and growth in all economic cycles. To learn more, visit www.fhlb-pgh.com.
About PHFA
The Pennsylvania Housing Finance Agency works to provide affordable homeownership and rental housing options for older adults, low- and moderate-income families, and people with special housing needs. Through its carefully managed mortgage programs and investments in multifamily housing developments, PHFA also promotes economic development across the state. Since its creation by the legislature in 1972, it has generated more than $14.3 billion of funding for more than 176,600 single-family home mortgage loans, helped fund the construction of 136,215 rental units, distributed more than $109.2 million to support local housing initiatives, and saved the homes of more than 50,100 families from foreclosure. PHFA programs and operations are funded primarily by the sale of securities and from fees paid by program users, not by public tax dollars. The agency is governed by a 14-member board.
