Community Stabilization & Restoration Program
One of POLARA‘s long-term goal goals is to implement a Community Stabilization & Restoration Program that will accomplish the following objectives during its initial operational phase:
• Help stabilize existing communities by ensuring that current residents – especially long-term residents, minority residents, returning citizens, senior citizens, veterans, and working families – are able to secure safe and affordable housing; and
• Help current renters – especially long-term residents, minority residents, returning citizens, senior citizens, veterans, and working families – make the transition from renting to homeownership.
In conjunction with its Community Stabilization & Restoration Program, POLARA will work with government agencies and existing non-profit entities that are focused on helping current residents and others secure safe and affordable housing. In doing so, POLARA will offer safe and well-maintained rental units at below-market rates to long-term residents, minority residents, returning citizens, senior citizens, veterans, and working families. These existing non-profit entities will include, at a minimum, the following: ACTION Housing, Allegheny County Housing Authority, Fair Housing Partnership of Greater Pittsburgh, Housing Authority of the City of Pittsburgh, Housing Search Assistance/PA Housing Search, Open Hands Ministries, Pittsburgh Community Services, Inc., the Urban League of Greater Pittsburgh, and the Urban Redevelopment Authority.
In addition, POLARA will also encourage its tenants to become homeowners by (a) co-sponsoring community workshops, multi-media outreach campaigns, and webinars that will inform residents about the existing programs that are available to help pay for some of the costs they must incur to become homeowners; and (b) offering to match up to $5,000 per year of any additional funds that its tenants choose to contribute to a secure trust fund during the first two years of their tenancy. The existing programs that offer financial assistance to prospective homebuyers include the following: OwnPGH; the Down Payment and Closing Cost Assistance Program; the Single-Family Mortgage Revenue Bond Program; and the Housing Choice Voucher Program.
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