Philadelphia Housing Trust Fund celebrates fifth anniversary

A fee attached to deed and mortgage recording has funded 850 new homes and prevented more than fourteen hundred people from becoming homeless in Philadelphia.

A housing program has reached a milestone in Philadelphia. It’s the fifth anniversary of the Philadelphia Housing Trust Fund.

A fee attached to deed and mortgage recording has funded 850 new homes and prevented more than fourteen hundred people from becoming homeless in Philadelphia.

Deborah McColloch is director of Philadelphia’s Office of Housing and Community Development. She says the money encouraged the investment of another 140 million dollars in non city funds. McColloch says the fund covers all types of housing.

“Home ownership housing, rental housing, preservation of housing that otherwise would be lost. We’ve done major repairs to support the basic systems repair program. We’ve created new accessible and visitable homes.”

McColloch says another 550 new homes are in the pipeline on their way to completion.

The work also creates more than a thousand jobs, with many being Philadelphia residents to have an opportunity to find work through the program.

Jose Torres was facing homelessness because of substance abuse problems when he was helped through the trust fund. Torres says the program gave him his life back.

“The housing trust program and the workers of Impact Services made a difference in my life. I’m a man with dignity and I can walk with pride and joy. I stand as testimony that because of this program I stand before you as a man of honor, pride happiness content. It’s an opportunity that was given to me and I took advantage of it.”