In 2019 PHDC launched its new Shallow Rent program to provide rent assistance for tenants living in affordable housing projects who are rent burdened (i.e., spending more than 30% of their income on rent). Programs like the Low-Income Housing Tax Credit provide important income-restricted housing, but the rents are still too high for many Philadelphians. The Shallow Rent program currently provides over $1.6m in annual support for 394 tenants. Check back for future RFPs to enroll additional tenants. To be eligible tenants must live in income-restricted housing that was developed using public financing and tenants who participate must come through the property managers.
RFP for Shallow Rent Program
PHDC has issued a Request for Proposals (RFP) to owners and/or property managers (on behalf of owners) of affordable housing properties with income-restricted rental units that were built or substantially renovated with federal, state, or local subsidies. PHDC is seeking owners and/or property managers who are interested participating in the Shallow Rent Program that is designed to provide monthly rent vouchers not to exceed $500/month to tenants who are leasing units in the City of Philadelphia at rent levels that exceed 30 percent of their gross income. Click here to view the RFP.