FOR IMMEDIATE RELEASE
MARCH 13, 2019
Contact:
For Public Health Management Corporation
Emily Charles, This email address is being protected from spambots. You need JavaScript enabled to view it., 215-589-7183
Public Health Management Corporation Named As Restore Repair Renew Project Intermediary
Restore Repair Renew helps Philadelphia homeowners improve their homes and strengthen communities through access to low-interest home repair loans
PHILADELPHIA – The City of Philadelphia and Philadelphia Redevelopment Authority (PRA) have announced Public Health Management Corporation (PHMC), a nonprofit public health institute that creates and sustains healthier communities, as one of three Project Intermediaries for the Restore Repair Renew program. The initiative helps low- and middle-income Philadelphia homeowners access low-interest loans to invest in their properties.
Lenders participating in the program offer 10-year, three percent interest loans ranging from $2,500 to $24,999 to eligible homeowners. The loans will be used to fund a range of home repairs focusing on health, safety, weatherization, accessibility, and quality of life.
“There is an undeniable correlation between physical and mental health and financial stability,” said Richard J. Cohen, President and Chief Executive Officer of PHMC. “Helping individuals access the funds to improve the safety and quality of their homes increases individual wellness, stabilizes neighborhoods and supports overall community health. We are proud to partner with the City and the Philadelphia Redevelopment Authority to assist local homeowners to maintain and improve one of their most important assets.”
PHMC will provide program participants with support throughout the entire home loan process, connection to a participating lender, and if needed, financial counseling.
Restore Repair Renew will cover health and safety related repairs, such as mold and randon mitigation, lead-based paint treatments, electrical repairs, HVAC or water heater replacements, adaptations to allow for easier access or mobility, and repairs/replacements of windows, doors, stairs, fixtures, plumbing, sewer and waterlines. Philadelphia homeowners must meet specific criteria to be eligible for the program, including, but not limited to, credit scores above 580, home insurance and paid property taxes.
To learn how to apply or for questions regarding eligibility, please contact This email address is being protected from spambots. You need JavaScript enabled to view it. or call 877-515-0575 or go to restorerepairrenew.org.
About PHMC
Public Health Management Corporation (PHMC) is a nonprofit public health institute that creates and sustains healthier communities. PHMC uses best practices and evidence-based guidelines to improve community health through direct service, partnership, innovation, policy, research, technical assistance and a prepared workforce. PHMC has served the region since 1972. For more information on PHMC, visit www.phmc.org, like our Facebook page and follow us on Twitter.
