22 Sep

On September 12th PCRG convened the third MBCC forum of 2017,  generously hosted by Citizens Bank at their downtown office. The MBCC, which included over 40 participants from Pittsburgh’s banking and community development communities, covered a wide range of topics, including  bank insights on pre-development and gap financing,  LERTA renewal, and the proposed federal Neighborhood Housing Tax Credit.

Alyssa Lyon, our community outreach manager,  kicked off the event with some news about CARL, PCRG’s mortgage and rehabilitation loan product. In 2017 CARL applicants have closed on homes in Homewood, Garfield, and Manchester, and over 100 inquiries have been made about participating in the program. Sarah Slater, PCRG’s program coordinator, briefed the group on the city’s land bank, followed by an update from Ernie Hogan on PCRG’s 2018 Community Development Summit.

The bulk of the meeting focused on introducing our community members and bank partners to the Neighborhood Housing Tax Credit (NHTC). The bill, which was originally introduced during the Bush Administration, is slated to be reintroduced sometime over the next year. The NHTC, if passed, will function similarly to Low-Income Housing Tax Credit, but for 1-4 family homes. We will continue to monitor the progress of the bill through Congress and advocate for its passage.

The final portion of the meeting was dedicated to development updates from our community members, and we heard from a wide range of groups, including the Wilkinsburg Community Development, Oakland Planning and Development Corporation, and Neighborworks, among others. We encourage all our city and county members to participate in this forum, and we hope to see you at the final MBCC of the year on December 5th.

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Adrie Fells

Adrie is a Central PA native and a die hard Steelers fan. She is currently working towards a B.A. in History with a concentration in Religion at Pitt. After finishing service year with City Year Miami, she is excited to explore the ins & outs of capacity building and indirect service in a community she loves. Adrie loves music, podcasts, cats, and is willing to discuss & debate just about any topic.
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