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PITTSBURGH, PA (June 12, 2019) Renovation of ten affordable homes in the Hill District, Lawrenceville and Oakland are set to be approved tomorrow by the board of the Urban Redevelopment Authority of Pittsburgh.
The URA board is also set to issue a Request for Proposals for a construction manager to oversee “Roof-A-Thon,” a pilot program to fix roofs at up to 30 affordable properties citywide.
In the Hill District, the Housing Opportunity Fund is seeking approval for $85,000 in For-Sale Development Grants and a $50,000 deferred mortgage agreement to renovate and sell two affordable homes on Mahon Street and Landleiss Place by the Hill Community Development Corporation.
The Hill CDC plans to rehabilitate the homes and resell them for homeownership to homebuyers at less than 80% area median income.
The URA board will also consider $825,750 in financing for the acquisition and renovation of six affordable single-family houses in Lawrenceville, through a project by the Lawrenceville Corporation (LC), in partnership with the newly formed organization City of Bridges Community Land Trust.
A Community Land Trust (CLT) is a tool that creates permanently affordable home ownership opportunities for individuals who have been fully priced out of the private market. Through the use of a ground-lease, CLTs set a maximum resale price designed to give homeowners a return on their investment, while also ensuring that future homebuyers at the same income level have access to affordable homeownership.
The bulk of the financing for the Lawrenceville homes comes from the Housing Opportunity Fund For-Sale Development Program (FSDP), in a grant of $300,000.
In Oakland, the Oakland Planning and Development Corporation (OPDC) plans to acquire and rehabilitate two homes on Parkview Avenue and Robinson Street for sale to homebuyers at less than 80% area median income. A CLT will own the land and the homebuyers will own the structures. When the houses are resold, they must be resold to households at or below 80% AMI.
It is being supported by a Housing Opportunity Fund FSDP grant of $140,000 and a FSDP predevelopment loan of $72,000.
Finally, the URA board is set to approve a Request for Proposals from a qualified construction manager to help administer a pilot “Roof-A-Thon" program, in which the HOF would help low income homeowners fix leaky roofs that lead to health problems and long-term maintenance issues, especially in older housing stock.
The HOF advisory board has reserved $250,000 of the 2018 Homeowner Assistance Program funding to seed the pilot program, which would fund roof repairs at 25 to 30 homes. The HOF will be taking applications from low-income homeowners who cannot afford such repairs.