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 f...
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