HARRISBURG, PA — The Pennsylvania Housing Finance Agency (PHFA) has opened a new round of funding opportunities for mixed-use development projects through its Community Revitalization Fund Program (CRFP). The program aims to support construction or rehabilitation efforts that combine residential and commercial space, with proposals due by 2 p.m. on Friday, October 31.
$4.5 Million in Tax Credits to Spur Revitalization
This year, PHFA is authorized to sell $4.5 million in state tax credits, using the proceeds to finance projects that strengthen commercial and retail corridors across the commonwealth. Created as part of Pennsylvania’s 2017–18 state budget, the CRFP has been administered by PHFA to advance redevelopment efforts in communities undergoing revitalization.
Examples of eligible projects include the rehabilitation of older or underutilized buildings, commercial space build-outs, structural or legal conversions of existing buildings, and the creation of new housing units within mixed-use properties.
A Catalyst for Local Economies
PHFA Executive Director and CEO Robin Wiessmann emphasized the role of these investments in driving local development. “Our goal with these investments is not only to provide critical funding but also to move forward the completion of a project, or projects, that can boost community development,” she said. Wiessmann added that in smaller towns, a single pivotal development can create an economic spark and attract further private investment.
Who Can Apply
Eligible applicants include counties, cities, boroughs, redevelopment authorities, nonprofit organizations, for-profit developers, and economic development agencies. For this year’s round, applications from Pennsylvania’s third-class cities will receive higher priority during the evaluation process.
Simplified Online Application
In an effort to streamline the process, PHFA will only accept online submissions, eliminating paper applications and providing a more accessible pathway for developers and organizations to seek funding.
By supporting mixed-use projects that blend housing and commercial activity, PHFA’s CRFP aims to strengthen communities, encourage economic growth, and expand opportunities for residents across Pennsylvania.
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