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Optional County Affordable Housing Funding
The Optional Affordable Housing Funds Act, formerly known as Act 137 of 1992, allows counties to raise additional revenues to be used for affordable housing needs by increasing the fees charged for the recording of deeds and mortgages. The authorizing legislation requires that these additional funds be expended for projects and programs, approved by the appropriate governing entity of the county, which increase the availability and quality of affordable housing.
Additionally, PHFA believes that this funding source is an important local resource available to local governments to leverage other state, federal and private funds in order to enhance their ability to meet the affordable housing needs of their residents.