Philadelphia has long counted on Community Development Corporations for housing and commercial improvements at the neighborhood level. Now, a local umbrella group has calculated the dollar value of their work.
Housing advocates are hoping a new cost-benefit analysis of Pennsylvania’s Homeowners Emergency Mortgage Assistance Program (HEMAP) will convince the state to restore funding and they say last week’s settlement of a national foreclosure fraud lawsuit would allow the state to do so without impacting the budget.
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