Council Committee Approves Housing Trust Fund Bills

On September 26, 2018, City Council’s Committee on Appropriations unanimously reported out three bills as part of the agreement between Mayor Kenney and Council to commit $70 million over the next five years to the Philadelphia Housing Trust Fund.  PACDC applauds the Kenney Administration and City Council for this critical boost in investment in affordable homes.

One of those bills, Bill No. 180740, transfers $19 million for the Housing Trust Fund to start using immediately.  Bill No. 180744 lays out the five-year agreement between Council and the Administration to allocate future funds in FY20 – FY23.  Bill No. 180739 creates a new sub-fund of the Housing Trust Fund to receive and spend the new funds.

Read the testimony of PACDC and several of our members, including Asociación Puertorriqueños en Marcha, HACE, Habitat for Humanity Philadelphia, LISC Philadelphia, Mt. Vernon Manor CDC, New Kensington CDC, People’s Emergency Center CDC, Project HOME, Rebuilding Together Philadelphia, as well as testimony from CEIBA.

The bills now head to the Council floor, where it is expected they will be called up for final passage on October 4th.