HOF advisory board backs 20‑year affordability for Cliffside Overlook after lender concerns; working group formed to study HOF reauthorization

At its July meeting, the Housing Opportunity Fund Advisory Board voted to authorize reducing the affordability-period requirement for the Cliffside Overlook project from 40 to 20 years. Emily Kern, a URA lending analyst, told the board the project is four new rental units at 1717 and 1719 Cliff Street in the Crawford Roberts neighborhood and that the request responds to underwriting concerns in the capital stack. The developer, Tyan Battle, said she is a Hill District resident and a minority developer and that HUD and the Pittsburgh Housing Authority had approved project-based vouchers tied to the units.

Kern outlined the Cliffside Overlook financing: a $600,000 Federal Home Loan Bank AHP grant, a $595,000 permanent loan from 1st National Bank, a $250,000 equity investment from Neighborhood Allies, a $150,000 PHFA grant, a $96,846 deferred development fee, plus a requested $225,000 HOF rental-gap loan. Board members noted the packet presented in October 2025 described a 40‑year deed restriction tied to the rental-gap loan; members asked what changed since that earlier recommendation. URA staff and lender representatives explained that the 40‑year deed restriction, if recorded ahead of a lender’s mortgage, could reduce the lender’s ability to satisfy debt in a foreclosure scenario and had raised underwriting concerns for the project’s bank partner. Kiana Wasler, the chief housing officer, said bank underwriting and partner-lender risk analysis prompted discussions to align the covenant length across the capital stack.

After deliberation, Ellie Fisher moved to authorize the 40→20 reduction and Marita (mayor’s office) seconded. The roll-call votes recorded on the record were: James Ish (yes), Ellie Fisher (yes), Becky Yago (yes), Leah Matthews (yes), Robert Helwig (no); the board chair recorded an abstention. The chair declared the motion carried. URA staff noted the URA board had already approved the change and had asked that the HOF advisory board consider the matter; advisory members said the item raised broader policy questions about default covenant lengths and that they plan a fuller fall conversation about program guidelines.

Separately, the advisory board voted to establish a HOF Reauthorization Working Group to develop a recommendation to the full HOF board and the mayor and city council on reauthorizing the Housing Opportunity Fund before the fund’s final disbursement window ends in 2029. The working group will explore funding levels, new funding sources and draft language; Robert Helwig moved the motion and James Ish seconded it. Rob Helwig self-appointed and several members volunteered to participate.