PACDC Testifies on New Home Repair Loan Program

PACDC offered testimony to City Council’s Finance Committee in support of a bill that will create a new home repair loan program. The bill would allow the Philadelphia Redevelopment Authority to issue a $40 million bond for the program, which would be targeted to homeowners that have trouble accessing loans in the private market, as well as landlords of 1 – 4 unit properties. This could help more property owners make critical repairs to keep homes safe, healthy, and habitable.