Food News

Jozette Brown has been longing to buy a house for years. The two-bedroom apartment she owns at present is too small for her as she has two daughters with her. Doing savings is also a struggle for her as the savings mostly go into food, bills, or other things. 

Consequently, she decided to enroll in a program this summer to grow her savings and meet her long-term goal. She’ll use this money to buy a home within the next couple of years. 

The Pennsylvania Housing Finance Agency intends to launch a $2 million pilot program in early 2024, collaborating with private owners and operators of multifamily housing to enroll more tenants, similar to Brown, in the federal Family Self-Sufficiency Program.

This move makes the agency the first of its kind nationally to allocate funds for expanding the asset-building program beyond public housing, as stated by the National Council of State Housing Agencies.

The federal program was built to provide housing assistance which will increase their income and grow their savings to achieve long-term goals such as buying a house. 

The Department of Housing and Urban Development (HUD) allowed the private owners to apply for federal grants and provide the program to the tenants. 

Four mid to large-sized private owners of multifamily housing are expected to take part in the first round of the pilot. The households with subsidized rent will be automatically enrolled in the program. 

The tenants can also opt for the family self-sufficiency program because of the lack of awareness. The Self-sufficiency program is effective for renters but is not as well known in the affordable housing industry as it should be. 

The National Council of State Housing Agencies hopes that this initiative will inspire many property owners and landlords to follow Pennyslyvania’s lead.