Tax Credits And Funding Going Toward New Retirement Community In Penn Hills
HARRISBURG (KDKA) -- State Rep. Tony DeLuca says $950,000 in funding and $1.2 million in tax credits have been approved by the Pennsylvania Housing Financing Agency to construct a retirement community in Penn Hills.
The funding comes from Pennsylvania Housing Affordability and Rehabilitation Enhancement funds.
"The funding awarded Wednesday, to be frank, will make an extreme difference for seniors in our community," DeLuca said. "Ensuring our seniors have a nice place to live, especially after all their hard work in years prior, is essential, at least to my district. I'm excited to announce this funding and even more excited to see the complex once it's complete."
According to DeLuca, the money will help pay for a 52-unit building that is being called Emerald Hill Retirement Residence and it will house residents age 62 and older.
Pennsylvania Housing Affordability and Rehabilitation Enhancement funds come from impact fees that are collected from natural gas companies in Pennsylvania. The funds are supplemented by two other funding sources, a realty transfer tax and money from the National Housing Trust Fund.