Matzie: $2.4 million awarded to fund Beaver County affordable rental housing
AMBRIDGE, Oct. 14 – Beaver County residents will have greater access to affordable housing, thanks to more than $2.4 million in federal funding awarded today, state Rep. Rob Matzie announced.
Matzie, D-Beaver/Allegheny, said the funding to Hudson Companies for the Wayne Court Development in Ambridge includes approximately $1.25 million awarded under the Low Income Housing Tax Credit program and nearly $1.19 million from the National Housing Trust Fund.
“For low-income families, housing expenses can eat up a huge chunk of the budget, and that problem has been growing as Pennsylvania families are facing rising rents and a shortage of affordable housing,” Matzie said. “The low-income tax credits awarded today will help offset this trend by bringing more low-cost housing options into the mix.”
The federal tax credits are administered by the Pennsylvania Housing Finance Agency and were approved by the agency’s board.
The funding is part of a package of $43.6 million awarded statewide for the construction of 1,974 affordable multifamily rental units. More information on the awards is available here.