Nonprofit That Helps House Low-Income Families Receives Lifeline

Officials this week said the more than 130 people living in properties operated by the Interfaith Housing Development Corporation of Bucks County don’t have to worry about losing their homes.

The financially troubled Levittown-based nonprofit that owns more than 80 housing units – with the highest concentration in Bristol Borough, Bristol Township and Morrisville – is expected to finalize a deal with a Syracuse, New York-based Housing Visions within the next 90 days. The deal would reform Interfaith Housing Development Corp. into Interfaith Housing Vision Corp. and allow the New York organization to run the day-to-day operations.

  Sister Rita Margraff, Interfaith Housing Development Corp. board president,  said the new deal will allow the group to continue to help low-income residents who need housing.

Margraff leads a new board of locals that took over after a restructuring three years ago.

Roger Collins, Bucks County’s director of housing and community development, said Interfaith Housing Development Corp. ran into problems when the market began to crash several years back. 

“In 2008 and 2009, Interfaith took a hit they could never recover from, he said. “That’s why they needed to change their business model.”

The new Interfaith Housing Vision Corp will soon be hiring two to three employees to manage the nonprofit’s properties, officials said. Margraff said at least one employee would be a manager and up to two others would handle maintenance.

Currently, the nonprofit has only one part-time bookkeeper. Margraff said previous staff was cut once the new board took over and began reworking the business model for  Interfaith Housing Development Corp.  Also in an effort to save money, the nonprofit closed it’s Bristol office and moved into a single-room office a short distance away in Levittown.

Collins said all the properties owned by the Interfaith Housing Development Corp. are in good condition. With the staff cuts, some maintenance has been deferred but none of the problems are beyond repair.

While the organization did fall behind on some mortgages and several properties were close to going up for sheriff sale, no residents were displaced and no properties were lost to foreclosure.

Once the deal is approved, Bucks County is expected to offer an amount not to exceed $350,000 to help Interfaith Housing Vision Corp. get back on track.

Collins said no taxpayer money is expected to be lost through the deal. He said the county makes back its investment when properties are sold.

Both Collins and Margraff said they believe the new partnership with Housing Visions will help the local nonprofit and those who benefit from it.

At last week’s Bucks County Commissioner’s meeting, Chairman Rob Loughery said the deal with Housing Visions should help the Interfaith Housing Development Corp. shore up stability issues.

“I think they will really bring new life to this,” Collins said of Housing Visions.