Philadelphia City Council has approved significant funding for Mayor Cherelle Parker’s H.O.M.E. housing initiative. This strategic plan aims to tackle the housing crisis by creating and preserving 30,000 new housing units. The resolution was passed during the last council meeting of the year and calls for approximately $277 million in funding during its first year.
Details of the H.O.M.E. Housing Plan
The Housing Opportunities Made Easy, or H.O.M.E. initiative, is a $2 billion program designed to support renters and homeowners. The first-year funding will be allocated across various programs, ensuring that residents can maintain stable housing. Council President Kenyatta Johnson described the initiative as a “win-win” for Philadelphia, emphasizing collaboration with the administration and City Council members.
Budget Amendments
- The original budget for the H.O.M.E. plan was nearly $195 million.
- The council approved an additional $82.6 million in funding.
- Key allocations from the revised budget include:
- $43.5 million for the Turn the Key program, aimed at first-time homebuyers.
- Increased funding for affordable housing preservation and tenant support programs.
Funding Allocation Changes
Under the new legislation, 90% of the funding for the Basic Systems Repair Program and the Adaptive Modifications Program will be directed to households earning up to 60% of the area median income. This translates to approximately $71,640 annually for a family of four. The remaining 10% of the funds will assist households earning between 60% and 100% of the area median income, which is about $119,400 for a family of four.
Impact on Vulnerable Households
According to research from the Housing Initiative at Penn, about 200,000 households in Philadelphia earn less than 30% of the area median income. This represents one in three renters and one in five homeowners. Housing activists, like Dianna Coleman of One Pennsylvania, highlighted the importance of prioritizing housing for low-income individuals as both a moral and a practical necessity.
Challenges Faced by the Parker Administration
Despite the council’s amendments, the Parker administration has expressed concerns. They believe the H.O.M.E. initiative should provide aid to all demographics, from low-income renters to middle-income homeowners. Mayor Parker emphasized an inclusive approach to housing policy, aiming to avoid division among different income groups.
The decision to amend the budget reflects a strong advocacy for the city’s most vulnerable residents. Councilmember Jamie Gauthier, who leads the housing committee, acknowledged the urgent need for support, likening the situation to a medical emergency where immediate assistance is critical.
As Philadelphia embarks on this ambitious housing plan, the focus remains on ensuring equitable access to housing solutions for all residents.
