Title
Approving the 2025-2026 Housing Opportunities Made Easy (H.O.M.E.) Program Annual Program Statement and Budget, which addresses expenditures by various agencies in the first year of the H.O.M.E. Program.
Body
WHEREAS, The City Council of Philadelphia adopted Bill Number 250568 on June 12, 2025, which authorizes the City to borrow $800 million for the Housing Opportunities Made Easy (H.O.M.E.) Plan for housing production and preservation, home affordability, home owner and renter assistance, related contractor training and support, blight and vacant property reduction, urban beautification, neighborhood infrastructure, and other related programs; and approving the issuance by the Philadelphia Redevelopment Authority of bonds, notes or other evidences of indebtedness (including reimbursement obligations related to lines or letters of credit); and
WHEREAS, The City has prepared a 2025-2026 Housing Opportunities Made Easy (H.O.M.E.) Program Annual Program Statement and Budget establishing a budget for expenditure of $194,597,283 in funds to be generated by a bond offering in the first year of the program, which funding is to be spent on programs set forth in this Resolution; and
WHEREAS, The Housing Opportunities Made Easy (H.O.M.E.) Program Annual Program Statement and Budget describes the programs and activities that the City will fund using bond proceeds as further described below. The Housing Opportunities Made Easy (H.O.M.E.) Program includes programs to be undertaken and/or administered by the Philadelphia Redevelopment Authority (PRA or Authority), Philadelphia Housing Development Corporation (PHDC), the Philadelphia Energy Authority (PEA), certain program intermediaries (PIs), and the City, for housing production and preservation, home affordability, home owner and renter assistance, related contractor training and support, blight and vacant property reduction, urban beautification, neighborhood infrastructure, and other related programs. Funding for H.O.M.E. will come from tax-exempt or taxable bonds that will generate a total of approximately $800 million in program funds over 4 years. These bonds will be issued by the PRA. See Exhibit 1 for program details. Now, therefore, be it
RESOLVED, BY THE CITY COUNCIL OF PHILADELPHIA, that the 2025-2026 Housing Opportunities Made Easy (H.O.M.E.) Program Annual Program Statement and Budget contained herein is hereby approved. This approval does not substitute for any action otherwise required by City Council under Bill No. 250568 or the law generally.
Exhibit 1
|
Program/Activity |
Bond Funded Amount |
|
Adaptive Modifications Program |
$ 8,500,000 |
|
Affordable Housing Preservation Funds (HPres) |
$ 29,627,500 |
|
Affordable Housing Production Funds (HPro) |
$ 24,343,333 |
|
Basic Systems Repair Program (BSRP) |
$ 34,775,000 |
|
Built to Last |
$ 8,250,000 |
|
Comprehensive Land and Property Acquisition Program |
$ 4,000,000 |
|
Curbside Appeal Program |
$ 1,000,000 |
|
Employer-Assisted Housing |
$ 500,000 |
|
Eviction Diversion/Targeted Financial Assistance |
$ 15,000,000 |
|
Façade Improvement Program |
$ 1,000,000 |
|
Homeless Prevention |
$ 3,800,000 |
|
Housing Counseling and Foreclosure/Eviction Prevention |
$ 2,850,000 |
|
Housing Plus Rental Assistance (PHLHousing+) |
$ 1,800,000 |
|
Neighborhood Infrastructure Improvement Programs (NIIP) |
$ 2,000,000 |
|
One Philly Mortgage Program |
$ 25,000,000 |
|
Philadelphia Accelerator Fund (Multi-family) |
$ 5,000,000 |
|
Philadelphia Accelerator Fund (Turn the Key) |
$ 1,500,000 |
|
Philly First Home (PFH) |
$ 10,666,667 |
|
Purchase Bank Liens |
$ 600,000 |
|
Remove Vacant or Blighted Housing through Demolition |
$ 3,000,000 |
|
Rent and Moving Assistance Programs (FreshStartPHL) |
$ 1,000,000 |
|
Rental Improvement Fund (RIF) |
$ 4,500,000 |
|
Shallow Rent Assistance |
$ 434,783 |
|
Shallow Rent Program |
$ 2,000,000 |
|
Tangled Title Prevention and Resolution Program |
$ 2,200,000 |
|
Wills Program |
$ 1,250,000 |
|
Total |
$ 194,597,283 |
PROGRAM DESCRIPTIONS
Adaptive Modifications Program (AMP). This program shall provide free adaptation projects to provide easier access to and mobility within homes (which may be delivered pursuant to grant or other arrangements) for permanently disabled renters (with permission of the related property owner) and homeowners with household income up to 80% of Area Median Income (AMI). Eligible homes shall be those meeting the AMP’s existing criteria.
Affordable Housing Preservation (HPres). This program shall include the provision of “gap” financing (i.e., financing including short to medium-term loans to address timing considerations or longer-term financing to complete the “capital stack” for a project financed predominantly from other sources) to developers for renovation, acquisition of property and other expenditures for housing preservation projects.
HPres may consist of providing loans and/or grants to PIs, property owners and developers for costs of existing property acquisition and rehabilitation, and providing funds for existing property acquisition and rehabilitation directly by the City or PIs for potential resale, to preserve existing affordable rental housing, with special emphasis on the preservation of Low-Income Housing Tax Credit rental housing developments. The major components of the HPres program will consist of programs in the following areas for which proceeds may be expended:
Preservation Acquisition Funds - Providing funds for the public, private or not for profit acquisition of rental units at risk of being converted to market-rate units. This may include properties with expiring tax credits, projects placed on the open market for sale or naturally occurring affordable housing that is at risk of market-rate conversation, including the payment of settlement and other costs related to the acquisition and transfer of such properties and costs related to maintaining, managing and holding properties prior to their resale or other conveyance.
Capital Improvements - Providing funds to be used to make capital improvements to existing affordable units. These improvements may take the form of wholesale rehabilitation or may include specific capital needs such as roof replacement, new heating system, energy upgrades or accessibility improvements.
Affordable Housing Production (HPro). This program may similarly provide “gap” financing for construction, reconstruction, acquisition of property and other expenditures for housing production projects.
HPro may consist of providing loans and/or grants to PIs, property owners and developers for costs of rehabilitation, property acquisition and new construction, and providing funds for property acquisition directly by the City, to increase the production of affordable rental housing, including mixed use. The major components of the HPro program will consist of programs in the following areas for which proceeds may be expended:
Low-Income Housing Tax Credit Projects - Providing funding as long-term, low interest subordinate debt to fill financing gaps for low-income housing projects which have already secured a reservation of tax credits.
Affordable Rental & Special Needs Housing Development - Providing funding as long-term, low interest subordinate debt to fill financing gaps for new residential development that serves low- and moderate-income households and is not tied to Low Income Housing Tax Credits.
Housing Opportunities Fund - Providing patient capital in which the City, the Authority or PHDC purchases an ownership stake in a privately constructed and managed building while requiring that housing units in the building be reserved for households earning 50% or less of Area Median Income.
Increased Rental Affordability - Providing grant funding as short-term rent assistance to buy down the cost of rent for newly created units to make them affordable to low- and very low-income tenants, including with respect to projects that may include a mix of units at market rate rents and certain percentages of median rental prices.
Acquisition - Providing grant funding via the Philadelphia Land Bank to purchase properties at Sheriff Sale in order to complete development parcels for the development of affordable and mixed-income housing units.
Basic Systems Repair Program (BSRP). This program shall provide free home repairs (which may be delivered pursuant to grant or other arrangements) to correct electrical, plumbing, heating, limited structural, and carpentry and roofing emergencies. Eligible grant recipients shall be homeowners with household income up to 100% percent of AMI, and in owner-occupied homes which are eligible according to BSRP’s existing criteria.
Built to Last (BTL). This program shall provide free home repairs (which may be delivered pursuant to grant or other arrangements) inclusive of what can be provided via Basic Systems Repair along with additional energy conservation and healthy housing repairs. Eligible grant recipients shall be homeowners in owner-occupied homes which are eligible according to BTL’s existing criteria.
Comprehensive Land and Property Acquisition Program.This program shall provide capital for strategic property acquisition to increase the supply of affordable residential units within the City through four complementary funding mechanisms:
Acquisition Fund: The program will support the Housing Authority, PHDC, and other eligible entities in acquiring occupied multifamily buildings and developable land to expand affordable housing inventory.
Land Bank Acquisition Fund: Additionally, it will provide capital for acquiring repossessed properties at public auctions to create affordable owner-occupied and rental residential units.
Nonprofit Community and Anchor Institution Land Acquisition: The program will also fund the acquisition of campus land from community organizations and anchor institutions, providing access to large parcels of viable property and underutilized buildings that can be transferred to the Land Bank for conversion to affordable housing.
Purchase and Rehabilitation of Residential Housing Units: Furthermore, the program shall provide grants and/or loans to Program Intermediaries (PIs) for financing the costs of purchase and/or rehabilitation of existing, new, or recently constructed residential housing stock within the City, particularly within areas where supply levels have lowered prices or within certain price/rent strata. This may include refinancing through the purchase of PI debt.
All properties acquired through this program shall be permanently restricted from disposal for market rate housing purposes, ensuring long-term affordability within the City's housing stock. The program emphasizes strategic acquisition of properties suitable for rehabilitation, development, or conversion to meet the City's affordable housing goals across multiple acquisition channels.
This unified approach creates a comprehensive acquisition strategy that addresses various property types and acquisition opportunities while maintaining consistent affordable housing requirements across all funding streams.
Curbside Appeal Program. This program shall offer matching grants (which may up to 100%) to enhance “curbside appeal” in City neighborhoods through improvements that boost quality of life, attractiveness, and community cohesion. Components of this program will include, but not be limited to, improvements such as planting trees, greening vacant lots, installing street furniture, and repainting doors and trim facing pedestrians, customers and visitors. Eligible recipients of grants may include non-profit organizations and small businesses.
Employer-Assisted Housing. This program shall provide participating employers with financial assistance and services for such employers’ City-based employees, including homebuyer assistance for first-time home buyers. Homebuyer assistance may be in the form of below-market loans or other arrangements that “buy down” the effective rate of such loans. Other financial assistance and services which may be provided to such employees for residential purposes shall include loan and credit counseling type services.
Eviction Diversion/Targeted Financial Assistance. This program shall offer resources for landlords and tenants in residential rental properties to resolve disputes. Funds under this program may be used to pay limited amounts of back rent and future rent as part of the resolution. This program is intended to enable such parties to avoid costly or prolonged court proceedings.
Façade Improvement Program. This program shall provide one-time funding (which may be administered on either a per residential unit basis or a per recipient basis) for the repair of housing façade work. Already existing architectural details in such facades may be restored or preserved. These projects may include weatherization assistance (which may be provided through grants and/or other services to homeowners or other property owners) required to maintain homes for the long term or to prevent structural damage which may shorten the useful life of such property.
Homelessness Prevention. This program shall be operated by the City in order to provide support to individuals and families at risk of homelessness, resources for housing stabilization, and a pathway towards permanent housing for such individuals and families. Specific services to be provided directly to such individuals and families as part of this program shall be tailored toward meeting direct needs for adequate shelter and housing.
This program may consist of providing funds for the City or PIs to improve existing properties or provide for the costs of the acquisition of properties and their transfer to responsible owners/managers who will maintain the properties’ suitability for permanent housing options for homeless residents, including the funding of loans to property owners and developers, the payment of settlement and other costs related to the acquisition and transfer of such properties and costs related to maintaining, managing and holding properties prior to their resale or other conveyance, any of the foregoing of which may be implemented in whole or in part through the funding of an acquisition and capital improvements fund. The major components of this program will consist of programs in the following areas for which proceeds may be expended:
Acquisition - Providing funds for the acquisition of properties to provide for permanent housing for currently homeless individuals. Funding would either take the form of direct property purchases to bring properties into the public inventory or as long-term, subordinate loans to third party providers to acquire properties.
Capital Improvements - Providing funds to either directly fund capital improvements for property in public inventory or as long-term, subordinate loans to private, third-party owners to make capital improvements to create or maintain units for permanent, homeless housing. Capital improvements may take the form of rehabilitation in order to convert a property from its current or former use into a homeless housing facility or may include specific capital needs such as roof replacement, new heating system, energy upgrades or accessibility improvements.
Emergency Rental Assistance - Providing grant funding for those facing a homelessness emergency coming in via the City’s Homelessness Prevention Hotline. Funding can take the form of either a one-time payment for moving costs (first month rent, last month rent, security deposit) or 12 months of rental assistance with housing case management.
Small Landlord Incentive Program - Providing funds in the form of grants to provide incentives, such as an upfront participation payment (per unit) and a rental loss and damages reserve (per unit) for rental property owners who commit to renting to people with rental assistance vouchers or other subsidy for a period commensurate with receiving public funding support to encourage their participation in providing housing to people exiting homelessness.
Children and Youth Homelessness - Providing funds for counseling, case management, and rental assistance for the City or PIs to support School District of Philadelphia students experiencing homelessness or at risk of becoming homeless to combat truancy and increase academic achievement.
Housing Counseling and Foreclosure/Eviction Prevention. This program shall provide housing counseling services, mediation services, and assistance to City residents at risk of eviction and foreclosure of their homes.
Housing Plus Rental Assistance (PHLHousing+). Providing sustained rental assistance to low-income families in the private rental market to complement the Authority’s Housing Choice Voucher program. Funding will be administered either by the City or Authority, prioritizing those already on the Housing Choice Voucher waitlist, those participating in an existing rental assistance program that is ending or at risk of expiration, or those in receipt of emergency vouchers being terminated due to federal funding cuts.
Neighborhood Infrastructure Improvement Programs (NIIP). This program shall fund providing grants or loans to property owners for improvement or enhancement of privately owned neighborhood infrastructure for the benefit of the residents of the City. A principal focus of this program is the stabilization of retaining walls, repair of dilapidated shared driveways, and removal of dangerous trees in common alley ways. Retaining walls to be improved will in particular include those that are classified by the City as imminently dangerous or unsafe under the City Code. Improvements to other private assets in disrepair (e.g., driveways, alleys, sidewalks, trees, sewers) that may create dangerous or unhealthy conditions may also be funded. The City may cause improvements or enhancements to be made directly to property. The City may impose assessments to adjacent property owners to recover costs.
One Philly Mortgage Program. This program shall partner with local and regional lending institutions to provide purchasers and owners of residential housing 30-year fixed-rate loans with reduced down-payments and very low (or below market) interest rates by utilizing loan loss reserves and by buying down interest rates (points). This program is intended to remove the need for private mortgage insurance (PMI) for participating borrowers.
Philadelphia Accelerator Fund (Multi-family). This program shall provide funding to be used in the form of loans to developers, or other assistance. The Philadelphia Accelerator Fund (PAF) provides flexible financing for affordable housing and works to increase access to capital for Philadelphians across the City including historically disadvantaged groups. This program will support the financing of multi-family properties by PAF, or any successor or similar additional entity, and may include, without limitation, mixed income and mixed-use projects.
Philadelphia Accelerator Fund (Turn the Key). This program shall provide funding to be used in the form of loans to borrowers under the Turn the Key Program consistent with its provisions as currently in effect. This program will support the financing of Turn the Key properties by PAF or any successor or similar additional entity.
Philly First Home (PFH). This program shall provide grants or forgivable loans for first-time homebuyers (or other homebuyers eligible in accordance with existing PFH guidelines) which funds are available to reduce the principal of homebuyer loans and cover down payment and loan closing costs for such homebuyers with household income of up to such percentage of AMI as the City may from to time determine. Loan forgiveness is generally conditioned upon the homeowner remaining in the home for a specified number of years. If the home is sold prior to the end of the specified period, the loan must be repaid. A waiver may be issued under extenuating circumstances on a case-by-case basis due to factors such as loss of a job, job relocation or illness.
Purchase Bank Liens. This program is designed to increase the City’s land inventory available for housing development through the purchase by the City, the Authority, or PHDC of liens on parcels of land (or the purchase of interests in real estate in order for the City’s Land Bank to otherwise obtain such land and associated real property with marketable title) from U.S. Bank National Association (or its applicable affiliates) or from other banks, savings institutions, and financial institutions.
Remove Vacant or Blighted Housing through Demolition. This program will fund the removal of blighted and vacant units owned by or in the possession of the City directly (or through arrangements where ownership or possession is with the Authority or PHDC) through demolition. The scope of this program may be supplemented beyond demolition work to include site clearance, environmental remediation, soil stabilization, stormwater management, and related work to cause the applicable parcels to be ready for site preparation work for future development and redevelopment pursuant to other programs and not to deteriorate during any period of time pending such future development or redevelopment.
Rent and Moving Assistance Programs (FreshStartPHL). This program shall provide rent/security deposits for the benefit of individuals who are in danger of eviction or homelessness. In administering this program, individuals who qualify to be assisted may be supported in maintaining residence at either a current location in the City or establishing residence at some other location in the City if required rentals or other factors associated with the applicable current location are not commercially reasonable, make the prospects of sustaining residence at such location unfavorable, or lead to uneconomical results from the standpoint of maximizing the number of City residents who can benefit from this program.
Rental Improvement Fund (RIF). This program shall offer a loan product to small landlords (30 or fewer units in the portfolio for the particular landlord) to be used for making property repairs/improvements for their rental properties. Loans are eligible for full forgiveness or a preferable 0% interest rate if landlords meet program affordability requirements during the loan term. Subject to such later adjustment of program loan parameters as the City may determine the loan is for $10,000-$24,999 per property (up to $100,000 per landlord) over 10 years. The loans may be forgiven in such a manner as the City determines, if conditions are met. Loan forgiveness may begin at any point during the life of the loan. An increased interest rate may be applied if affordability requirements are not met. For purposes of this program, the categories of eligible repairs and improvements shall include, but not be limited to, repairs/improvements addressing building code or lead-paint issues, and repairs of the same types and character as those funded through BSRP as well as AMP. Loan proceeds may also be used for working capital for costs related to the rental properties of such small landlords incurred in the ordinary course of their business.
Shallow Rent Assistance. This program shall expand the Shallow Rent program to “buy affordability” in market-rate apartment buildings.
Shallow Rent Program. This program shall provide rental assistance through grants either to landlords or directly to tenants to provide rental payment support for tenants living in affordable housing developments who are low-income or cost burdened (i.e., spending more than 30% of their income on rent) and who are at risk of being evicted.
Tangled Title Prevention and Resolution Program. This program shall provide comprehensive assistance to address tangled title issues for residents earning up to 80% of AMI through both remedial and preventive measures. The program will provide funding to prevent or clear tangled title to homes, covering administrative, legal, and other costs that may arise in resolving homeownership issues and clearing legal title for eligible residents.
Wills Program. This program shall serve participants in city homeownership programs, assisting them in writing wills to avoid future tangled title issues, ensuring proper legal documentation for property transfer and reducing the likelihood of title complications for subsequent generations.
Exhibit 2
TARGETED AMI FOR EACH PROGRAM
|
Program |
Targeted percent(s) of Area Median Income (AMI) for each Program |
|
Adaptive Modifications Program |
≤ 80% AMI |
|
Affordable Housing Preservation Funds (Hpres) |
≤ 60% AMI |
|
Affordable Housing Production Funds (Hpro) |
Sub-program income limits range from ≤ 60% AMI (e.g. Housing Opportunities Fund) to mixed income (e.g. Acquisition) |
|
Basic Systems Repair Program (BSRP) |
≤ 100% AMI |
|
Built to Last |
≤ 60% AMI |
|
Comprehensive Land and Property Acquisition Program |
Various |
|
Curbside Appeal Program |
≤ 100% AMI |
|
Employer-Assisted Housing |
115% AMI |
|
Eviction Diversion/Targeted Financial Assistance |
≤ 80% AMI |
|
Façade Improvement Program |
≤ 100% AMI |
|
Homeless Prevention |
≤ 30% AMI |
|
Housing Counseling and Foreclosure/Eviction Prevention |
Various |
|
Housing Plus Rental Assistance (PHLHousing+) |
≤ 50% AMI |
|
Neighborhood Infrastructure Improvement Programs (NIIP) |
≤ 100% AMI |
|
One Philly Mortgage Program |
≤ 120% AMI |
|
Philadelphia Accelerator Fund (Multi-family) |
≤ 100% AMI |
|
Philadelphia Accelerator Fund (Turn the Key) |
≤ 100% AMI |
|
Philly First Home (PFH) |
≤ 100% AMI |
|
Purchase Bank Liens |
N/A |
|
Remove Vacant or Blighted Housing through Demolition |
N/A |
|
Rent and Moving Assistance Programs (FreshStartPHL) |
≤ 80% AMI (priority for ≤ 50% AMI) |
|
Rental Improvement Fund (RIF) |
≤ 60% AMI |
|
Shallow Rent Assistance |
80%-120% AMI |
|
Shallow Rent Program |
≤ 50% AMI |
|
Tangled Title Prevention and Resolution Program |
≤ 80% AMI |
|
Wills Program |
≤ 80% AMI |
Note: Other funding sources, including Housing Trust Fund and Community Development Block Grant, that support certain bond-supporting programs include more restrictive AMI limits.
Exhibit 3
IDENTIFICATION OF EACH COUNCIL DISTRICT
AFFECTED BY EACH PROGRAM
The intention is to benefit all citizens of Philadelphia with all HOME Programs throughout all of the City’s Councilmanic Districts.
Exhibit 4
LIST OF PROPERTIES THE MAYOR WILL ASK COUNCIL TO TAKE ACTION ON AND THE NATURE OF THE ACTION
No properties are being identified at this time, but these will be subject to further discussions with District Councilmembers.
End