FHLBank Pittsburgh and PHFA Collaborate to Allocate Over $5 Million to Combat Homelessness
In a significant step towards addressing homelessness in Pennsylvania, the Federal Home Loan Bank of Pittsburgh (FHLBank) and the Pennsylvania Housing Finance Agency (PHFA) have recently announced the distribution of $5.25 million in grants through the Home4Good initiative. This collaborative effort aims to alleviate the challenges faced by individuals and families precariously housed or simply without shelter.
FHLBank has allocated $3.75 million while PHFA has contributed an additional $1.5 million to this crucial funding project. The Home4Good program extends support to local organizations that are dedicated to helping the homeless or those on the brink of losing their homes. This year, the initiative will assist organizations across the Commonwealth by providing them with essential resources to meet community needs effectively.
David G. Paulson, President and CEO of FHLBank, expressed pride in the partnership, emphasizing that this funding is made possible through collaboration among various stakeholders, including housing finance agencies, member institutions, and local service providers. The program will ensure that more than $8 million is distributed throughout the three-state district, targeting areas with pressing needs related to homelessness.
"The housing crisis impacts every Pennsylvania community," stated Robin Wiessmann, Executive Director and CEO of PHFA. This statement underscores the widespread nature of housing issues, prompting a united effort to provide assistance where it's most needed. The funds distributed through Home4Good will empower families and individuals struggling with housing insecurity to secure a stable living environment.
Organizations located in Delaware, Pennsylvania, and West Virginia are eligible to apply for this funding. The generous support provided by the FHLBank member institutions enables these organizations to seek necessary assistance through the application process. Additionally, Regional Continuum of Care agencies play an advisory role, enhancing the application and selection process to ensure funds reach the most deserving programs.
The collaboration between FHLBank and PHFA represents a strategic commitment to combating homelessness, equipping local homeless service organizations with the means to meet critical needs within their communities. The aim is to create pathways out of homelessness by facilitating access to housing and supportive services.
FHLBank Pittsburgh has been a key player in the financial system since its establishment in 1932. It is one of 11 such banks created by Congress, focusing on providing reliable funding and liquidity to its member institutions. By supporting community lending, housing, and economic development, FHLBank plays a vital role in fortifying local economies.
Meanwhile, PHFA's mission centers on ensuring affordable homeownership and rental housing options for various demographics, including older adults and low- to moderate-income families. The agency has a rich history of supporting housing initiatives since its inception in 1972, having financed a vast number of mortgage loans and rental units across the state, significantly contributing to economic development and community stability.
As the two organizations continue to forge ahead, their partnership is a testament to the impact of collaborative efforts in addressing social challenges. The Home4Good program embodies the spirit of community care, reminding us that, together, we can create a brighter future for those experiencing homelessness in Pennsylvania. Detailed information regarding the Home4Good initiative can be found on the respective websites of FHLBank Pittsburgh and PHFA, providing transparency and accessibility to all interested stakeholders looking to learn more or get involved.
FHLBank has allocated $3.75 million while PHFA has contributed an additional $1.5 million to this crucial funding project. The Home4Good program extends support to local organizations that are dedicated to helping the homeless or those on the brink of losing their homes. This year, the initiative will assist organizations across the Commonwealth by providing them with essential resources to meet community needs effectively.
David G. Paulson, President and CEO of FHLBank, expressed pride in the partnership, emphasizing that this funding is made possible through collaboration among various stakeholders, including housing finance agencies, member institutions, and local service providers. The program will ensure that more than $8 million is distributed throughout the three-state district, targeting areas with pressing needs related to homelessness.
"The housing crisis impacts every Pennsylvania community," stated Robin Wiessmann, Executive Director and CEO of PHFA. This statement underscores the widespread nature of housing issues, prompting a united effort to provide assistance where it's most needed. The funds distributed through Home4Good will empower families and individuals struggling with housing insecurity to secure a stable living environment.
Organizations located in Delaware, Pennsylvania, and West Virginia are eligible to apply for this funding. The generous support provided by the FHLBank member institutions enables these organizations to seek necessary assistance through the application process. Additionally, Regional Continuum of Care agencies play an advisory role, enhancing the application and selection process to ensure funds reach the most deserving programs.
The collaboration between FHLBank and PHFA represents a strategic commitment to combating homelessness, equipping local homeless service organizations with the means to meet critical needs within their communities. The aim is to create pathways out of homelessness by facilitating access to housing and supportive services.
FHLBank Pittsburgh has been a key player in the financial system since its establishment in 1932. It is one of 11 such banks created by Congress, focusing on providing reliable funding and liquidity to its member institutions. By supporting community lending, housing, and economic development, FHLBank plays a vital role in fortifying local economies.
Meanwhile, PHFA's mission centers on ensuring affordable homeownership and rental housing options for various demographics, including older adults and low- to moderate-income families. The agency has a rich history of supporting housing initiatives since its inception in 1972, having financed a vast number of mortgage loans and rental units across the state, significantly contributing to economic development and community stability.
As the two organizations continue to forge ahead, their partnership is a testament to the impact of collaborative efforts in addressing social challenges. The Home4Good program embodies the spirit of community care, reminding us that, together, we can create a brighter future for those experiencing homelessness in Pennsylvania. Detailed information regarding the Home4Good initiative can be found on the respective websites of FHLBank Pittsburgh and PHFA, providing transparency and accessibility to all interested stakeholders looking to learn more or get involved.
Topics Policy & Public Interest）
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