The Pennsylvania Housing Finance Agency announced that it is accepting bids for the purchase of $4.5 million in mixed-use development tax credits. The funds collected from successful bidders will be used for the construction or rehabilitation of mixed-use developments in Pennsylvania communities. The deadline for bids is 2 p.m. on Friday, July 18.
These tax credits will be used by the winning bidders to reduce their state tax liability. The bidders can be companies, organizations, or individuals. The intent of the bidding process is to raise as much funding as possible from the $4.5 million in tax credits being made available to provide for a significant investment in community revitalization projects in various communities. The projects to receive this funding will be selected during a competitive Request for Proposals process later this year.
