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Council members introduce legislation to fund the Housing Opportunity Fund

 


On Tuesday, May 2, Pittsburgh City Council Members Rev. Ricky Burgess and R. Daniel Lavelle introduced legislation in City Council to raise the city’s Realty Transfer Tax by one percent and authorizing the URA to issue $100 million dollars in bonds to fund the city’s Housing Opportunity Fund to increase affordable housing options in the City of Pittsburgh.

“Putting $100 million dollars into the Housing Opportunity Fund would be an historic action proving the City’s commitment to low- and moderate-income families,” Rev. Ricky Burgess said.

Councilman Lavelle, who co-chaired the City’s Affordable Housing Task Force, added, “We are determined to implement the recommendations of the task force which means fully funding the Housing Opportunity Fund with at least $10 million dollars per year. The task force report, issued in 2016, concluded that affordable housing was imperative, that the stabilization of our neighborhoods was imperative, and that fixing up dilapidated properties for affordable homeownership was critical.

“Now it is time for the city to fund these priorities. The task force report recommends increasing the city’s Realty Transfer Tax to fund the Housing Opportunity Fund with $10 million dollars per year”

 

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