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New homeownership support program in Pittsburgh draws praise from Peduto and skepticism from others pghcitypaper.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pghcitypaper.com Daily Mail and Mail on Sunday newspapers.
Katie Blackley / 90.5 WESA Pittsburgh officials are looking toward affordable home ownership as a vehicle to combat blight and displacement in the city. Mayor Bill Peduto joined the Urban Redevelopment Authority Wednesday to announce the creation of a bond-funded program that would lower barriers to home ownership. OwnPGH will use a $22 million bond issuance to offer loans to single-family home buyers at competitive rates regardless of their credit score. The URA will put up an additional $4 million to help the new homeowners with building restoration costs. Officials stood outside a recently renovated home in the city’s Larimer neighborhood to announce the initiative. URA deputy executive director Diamonte Walker said the home, which already has a buyer in the pipeline, was slated to be demolished. ....