The City Council authorized the mayor’s administration to move forward with $800 million in borrowing to fund the Housing Opportunities Made Easy (H.O.M.E.) plan, after approving an amended version of the bond ordinance on January 22. Considered one of Mayor Cherelle Parker’s signature initiatives, H.O.M.E. aims to create or preserve 30,000 affordable homes in four years through investments benefiting homeowners, renters, and developers. Recently, the goal expanded to 50,000 units with an additional 20,000 led by the Philadelphia Housing Authority (PHA).
Although three councilmembers opposed the updated ordinance in committee last month, it ultimately received unanimous support, signaling a cooling of the intense debate over income eligibility limits. Council leaders sought to keep repair assistance focused on the city’s lowest-income residents, while the administration pushed to broaden access to middle-income households by raising the Area Median Income (AMI) thresholds.
The revised law gives Council authority over AMI eligibility, and the first-year H.O.M.E. budget of $277 million—approved on December 11—requires at least 90% of funds for the Basic Systems Repair Program and Adaptive Modifications to go to households earning 60% of AMI or below.
With the legislation in place, the administration will now focus on implementation and outreach through the city’s Neighborhood Community Action Centers. The approval capped a week of related announcements, including PHA’s planned rehabilitation of the Brith Sholom House senior complex with a $50 million loan, and a request for information to explore building modular home factories.