Overview of Federal Action Webinar

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Overview of Federal ActionWebinar

• Monday, August 17, 2009
• 100 p.m.

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National Housing Trust Fund (NHTF)

• BACKGROUND
• NHTF enacted 2008
• Potential dedicated source of new revenue - 1.5
  million for rental homes
• Funding by Fannie Mae and Freddie Mac now in
  Receivership

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NHTF Funding

• FY 2010 1 Billion Proposed With No Funding
  Source
• 1 Billion Nationally approx. 40 Million for
  PA

4
NHTF - The Need

• Daily 15,000 Pennsylvanians are Homeless
• 90,000 families statewide are on housing
  authorities waiting lists.
• 47 of families pay rent greater than 30 of
  their income for housing

5
NHTF The Ask

• Identify and Authorize a funding Source for the
  NHTF

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Foreclosure Prevention

• BACKGROUND
• No federally initiated foreclosure program helps
  families save their home if they lose their job
• HEMAP Nationally Recognized Serve as a National
  Model

7
Foreclosure Prevention - The Need

• 22,000 Act 91 Foreclosure notices in Pennsylvania
  in last quarter of 2008
• HEMAP has 1,200 applications a month, up from 800

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Foreclosure Prevention -The Ask

• Expand the foreclosure prevention programs to
  include homeowners who have lost their jobs.
  Fund homeowners emergency mortgage assistance
  this fall

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Low Income Housing Tax Credit (LIHTC) - Program

• LIHTC is the largest source of funding for
  producing quality, affordable rental homes.
• With the recession, the program has suffered as
  investors have little profit to offset with tax
  credits.

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LIHTC - Background

• ARRA temporary fix Tax Credit Exchange Program
  which allowed states to trade in used Tax Credits
  for the cash from the US Treasury
• Result - 320 M 3,580 families into affordable
  housing sustaining and creating 640 FTE jobs

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LIHTC - The Need

• The Market has not yet recovered, therefore we
  need to continue the exchange program and improve
  tax credit utilization in other ways.

12
LIHTC - The Ask

• Please sponsor and vote for legislation that
  would bolster the Low Income Housing Tax Credit
  (LIHTC) Program this fall.

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Pennsylvanias US Senators

• Senator Bob Casey
• - Erie, Philadelphia, Harrisburg, Pittsburgh,
  Scranton, Lehigh Valley
• Senator Arlen Specter
• - Harrisburg, Philadelphia, Pittsburgh

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Pennsylvanias US Representatives

• Rep. Bob Brady 1st District
• Rep. Chaka Fattah 2nd District
• Rep. Kathy Dahlkemper 3rd District
• Rep. Jason Altmire 4th District
• Rep. Glen Thompson 5th District
• Rep. Jim Gerlach 6th District
• Rep. Joe Sestak 7th District

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Representatives Contd

• Rep. Patrick Murphy 8th District
• Rep. Bill Shuster 9th District
• Rep. Christopher Carney 10th District
• Rep. Paul Kanjorski 11th District
• Rep. John Murtha 12th District
• Rep. Allyson Schwartz 13th District
• Rep. Mike Doyle 14th District

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Representatives Contd

• Rep. Charles Dent 15th District
• Rep. Joseph Pitts 16th District
• Rep. Tim Holden 17th District
• Rep. Tim Murphy 18th District
• Rep. Todd Platts 19th District

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Next Steps

• Meetings Held - August 24th through September
  11th
• Group of providers, consumers, developers
• Everyone has opportunity to talk about what they
  do and how it relates to core ask
• Housing Alliance Staff to Set up Meetings
• Sign Up
• Email joyce_at_housingalliancepa.org
• OR Call [phone]/[phone]