PACDC Submits Written Testimony Regarding the Impact of Expiring Affordable Housing Subsidies

Colorful row houses in Philadelphia, Pennsylvania.

On February 15th, 2022, PACDC submitted written testimony in support of a City Council Resolution # 211029 regarding the impact of expiring affordable housing subsidies on the availability of affordable housing in Philadelphia

As an active member of LISC Philly’s Preservation Network, PACDC supports their key recommendations:

  • Ensure there is a publicly accessible comprehensive database of all at-risk rental properties, including their funding sources
  • Ensure disclosure of past sales of subsidized properties by developers when they apply for funds to support new affordable housing developments
  • Implement a Right of First Refusal to support acquisition of at-risk affordable housing developments by mission-based developers, and provide technical and financial support to acquire those properties
  • Recycle affordable housing debt repayments to preserve at-risk units, and utilize other available resources such as Neighborhood Preservation Initiative and Housing Trust Fund to preserve existing affordable rental units

You can read our full testimony here.