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NCST’s work increases access to homeownership, promotes resilient neighborhoods, and advances racial equity by advocating for policy change.
Championed by Councilwoman Cherelle Parker with the strong support of City Council President Darrell Clarke, the City of Philadelphia recently launched a new loan program to help homeowners invest in their properties and improve their communities. The Restore Repair Renew program works with participating banks to provide homeowners with financing for improvements focused on health, safety, weatherization, accessibility and quality of life.
Terms include:
The City allocated municipal bond proceeds to fund the program, which is administered by the Philadelphia Redevelopment Authority, after studying market trends affecting middle neighborhoods across the City and recognizing that investment to build on existing strengths could maintain them as stable places for Philadelphians to live, work and raise families.
Learn more about the program: https://philadelphiaredevelopmentauthority.org/restore-repair-renew/
See related press coverage: https://www.governing.com/topics/urban/gov-middle-neighborhoods-government.html
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NCST’s work increases access to homeownership, promotes resilient neighborhoods, and advances racial equity by advocating for policy change.