City Council voted 7-0 to approve a $10 Million annual funding contribution goal to a city-wide Affordable Housing Trust Fund, but have yet to determine how to fund it.
Councilman R. Daniel Lavelle introduced the bill in the summer and was glad to see it be approved. “It’s going to help individuals stay in their homes. It’s going to help individuals get very low-interest loans to begin fixing up their property,” he said. The trust fund was created as a result of findings that detailed an affordable housing shortage for low- to moderate-income city residents. More than 23,000 Pittsburgh households spend more than half their income on housing, making those families susceptible to foreclosure, eviction and other hardships.