Proposed $10M budget for Pittsburgh's affordable housing trust fund moves closer to being finalized

Pittsburgh’s Urban Redevelopment Authority has approved a $10 million spending plan for the city’s trust fund supporting affordable housing.

The Housing Opportunity Fund budget for next year, which now awaits City Council approval, includes $2 million for the URA’s Rental Gap Program.

The program provides loans to nonprofit developers to create and preserve affordable housing. Under the spending plan, $1.75 million of that money would be designated for housing earmarked for people making no more than 30% of the area median income, with the rest intended for housing for people making no more than half of the area median income.

The area median income ranges from $70,300 for one person to $132,600 for a household of eight, according to the URA.

The spending plan also includes more than $3 million for the Homeowner Assistance Program, which provides up to $35,000 in financial assistance to eligible low-income homeowners looking to make home improvements.

A program that offers legal help for housing-related matters including title services, foreclosure protection and mediation for renters will receive $1.4 million next year.

The spending plan budgets $850,000 for housing stabilization efforts, including help with rent, mortgage or utilities for people making no more than half of the area median income.

The URA’s down payment and closing cost assistance program is set to receive $700,000, while for-sale home development initiatives will get $650,000.

No money is set to be allocated for the Small Landlord Fund, which this year received $400,000 from the Housing Opportunity Fund. The program gives money to landlords with up to 10 units so they can preserve existing affordable housing or convert market-rate and vacant housing into affordable housing.

Most of the cash budgeted for the program this year is still available, said Evan Miller, the URA’s director of housing. He said that was largely why the program is not set to get additional cash for 2024.

The authority accepted public input ahead of votes on the spending plan. Miller said more than 450 people weighed in during the URA’s community engagement process.

The Housing Opportunity Fund’s advisory board supported the spending plan at its last meeting. The URA board unanimously supported it Thursday.

It now moves to City Council for further consideration and a final vote.