DeLuca: Substantial tax credits, funding to go toward new retirement community in Penn Hills
HARRISBURG, July 12 – Nearly $950,000 in Pennsylvania Housing Affordability and Rehabilitation Enhancement funds and $1.2 million in tax credits were approved Wednesday by the Pennsylvania Housing Financing Agency to construct a retirement community in Penn Hills, said state Rep. Tony DeLuca, D-Allegheny.
“The funding awarded Wednesday, to be frank, will make an extreme difference for seniors in our community,” DeLuca said. “Ensuring our seniors have a nice place to live, especially after all their hard work in years prior, is essential, at least to my district. I’m excited to announce this funding and even more excited to see the complex once it’s complete.
DeLuca said the tax credits and $948,081 in PHARE funding will help pay for a 52-unit building – dubbed Emerald Hills Retirement Residence - for those 62 and older.
PHARE program funding comes from a portion of the impact fees collected from natural gas companies operating in Pennsylvania to address the housing shortages caused by the impact of drilling. Those funds are supplemented with two additional funding sources, including a portion of the realty transfer tax and money from the National Housing Trust Fund.
For more information, residents can visit the following link: https://www.phfa.org/legislation/act105.aspx