Doyle Announces Federal Grant for Affordable Housing in Pittsburgh
Washington, DC – February 26, 2020 – U.S. Representative Mike Doyle (PA-18) announced that ACTION-Housing Inc has been awarded a Community Development Financial Institution (CDFI) Fund grant of $2.2 million.
“As someone who has spent his entire career working to enact federal policies to help revitalize distressed urban areas, I have been a strong supporter of CDFI grants and other important investments in our city,” Congressman Doyle said. “This funding will enable ACTION-Housing to develop more affordable housing and community facilities in low-income neighborhoods in Pittsburgh. I strongly supported ACTION-Housing’s grant application – and I am pleased that the Treasury Department has chosen to recognize this organization’s positive impact on our city and award it more than two million dollars to build more affordable housing in Pittsburgh.”
Through the U.S. Treasury Department’s Capital Magnet Fund, the CDFI Fund awards competitive grants to qualified non-profit housing organizations to support the preservation, rehabilitation, development, and purchase of affordable housing in low-income communities. To date, the Capital Magnet Fund has created 13,316 affordable housing united and created nearly 16,000 jobs.
The Treasury Department awarded 38 organizations a combined $130.9 million today. ACTION-Housing Inc. is one of 15 non-profit developers selected to receive these funds.