“The money will enable the borough to provide more reasonably-priced housing options to our neighbors in need,” Corman said. “A steep demand for housing in State College has pushed housing prices higher and higher. Affordable housing is vital to helping our families succeed and making our community a better place to live.”
Corman said the federally funded program provides municipalities with grant and loan assistance as well as technical assistance to expand the supply of decent and affordable housing for low- and very low-income Pennsylvanians. To receive the money, the borough must complete an environmental review process.
Grants are used for new construction, rehabilitation, financing mechanisms, acquisition of rental or sales housing and rental assistance for low- and moderate-income families.
A 25 percent local match on project costs from non-federal resources for rental housing is required.
Read the Senator's entire press release here.