Government funds available for mixed-use development projects

Help is available for developers looking to develop mixed-use projects in the state.

The Pennsylvania Housing Finance Agency has issued a request for proposals for new construction or renovation of mixed-use projects and is seeking financial support.

Funding is provided through the Community Revitalization Fund Program.

Mixed-use projects combine residential and retail/commercial space in the same building and often serve as a catalyst for neighborhood revitalization. The deadline to submit proposals is Friday, November 1 at 2 p.m.

This funding programme was created as part of the Commonwealth budget for the 2017/18 financial year and the PHFA was mandated by the General Assembly to administer it.

This year’s approved state budget authorized PHFA to sell $4.5 million in state tax credits and use the proceeds to award grants for the development of mixed-use properties in Pennsylvania’s commercial/retail corridors that are currently undergoing revitalization.

Examples of projects eligible for funding include:

• The rehabilitation of older or underused buildings for immediate reuse to support community development goals;

• Preparation of commercial development and commercial rental space;

• the planning and structural and legal conversion of existing buildings; and

• Provision of additional housing units by combining uses in a single, newly constructed or renovated building.

“We have found that mixed-use projects bring a special energy to a community by combining commercial and residential space,” said Robin Wiessmann, PHFA’s Executive Director and CEO. “With this community renewal funding, we can not only bring more affordable housing to a city, but also provide an economic boost through the businesses each project attracts.”

Eligible applicants for this funding include local governments, redevelopment agencies, for-profit businesses, nonprofit groups and economic development organizations. Applications from cities in the third category will be given higher priority in this year’s application evaluation.

For the first time, CRFP applications will be completed and submitted entirely online, eliminating the need for paper submissions and simplifying the process for applicants.

The RFP can be found on the PHFA website at https://www.phfa.org/mhp/developers/loans.aspxThe online application is available on the CRFP website at https://crfp.phfa.org.