2012 PHFA Annual Report - Pennsylvania Housing Finance Agency
2012 PHFA Annual Report - Pennsylvania Housing Finance Agency
2012 PHFA Annual Report - Pennsylvania Housing Finance Agency
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Our Mission<br />
In order to make the Commonwealth a better place to live while fostering community and<br />
economic development, the <strong>Pennsylvania</strong> <strong>Housing</strong> <strong>Finance</strong> <strong>Agency</strong> provides the capital for<br />
decent, safe, and affordable homes and apartments for older adults, persons of modest<br />
means, and those with special housing needs.<br />
1982<br />
<strong>PHFA</strong> launches singlefamily<br />
housing programs<br />
with participation by<br />
56 lenders.<br />
1982<br />
<strong>PHFA</strong> issues single-family<br />
Mortgage Revenue Bond<br />
Series A in the aggregate<br />
principal amount of<br />
$100 million to provide<br />
30-year mortgages with an<br />
interest rate of 14.05 percent.<br />
<strong>PHFA</strong>-financed housing<br />
units in 1972<br />
<strong>PHFA</strong>-financed housing<br />
units in 1983<br />
5,000 28,000<br />
1983<br />
<strong>PHFA</strong> is now a $1 billion agency<br />
with more than 28,000 rental<br />
units in its portfolio.<br />
Table of Contents<br />
A message from the Governor, Tom Corbett ....................... 2<br />
Board of Directors. ........................................... 4<br />
1972<br />
<strong>PHFA</strong> created by<br />
<strong>Pennsylvania</strong> General<br />
Assembly. The next year,<br />
Looking Back, Moving Forward: A message from the executive director. .. 6<br />
Reflections from Karl Smith, a former executive director of <strong>PHFA</strong>. ....... 8<br />
Stories that illustrate <strong>PHFA</strong>’s housing mission regarding:<br />
it moves into offices at<br />
3211 North Front Street<br />
with eight employees.<br />
1974<br />
<strong>PHFA</strong> issues shortterm<br />
notes to finance<br />
construction of 5,000<br />
Homeownership opportunities. ................................10<br />
Affordable rental housing. .................................. 12<br />
Education through housing counseling. ........................ 14<br />
affordable housing units<br />
through 29 multifamily<br />
developments.<br />
1977<br />
<strong>PHFA</strong> sells nation’s<br />
first advance<br />
refunding bonds.<br />
Community revitalization ................................... 16<br />
Fiscal year <strong>2012</strong> financial statements. ........................... 19<br />
annual report <strong>2012</strong><br />
<strong>PHFA</strong> staff complement . ..................................... 74<br />
1
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