Pennsylvania
Pennsylvania Hosts 2022 LIHTC Q&A – April 13
The Pennsylvania Housing Finance Agency will hold a 2022 LIHTC Pre-application (Question/Answer) virtual session at 9 a.m. ET on April 13.
FHLBank Pittsburgh Announces Affordable Housing Resources Available in 2022
The Federal Home Loan Bank of Pittsburgh’s Affordable Housing Program (AHP) will open June 28, with approximately $7 million available.
Pennsylvania Opens Nine Percent LIHTC Portal
The Pennsylvania Housing Finance Agency opened its Intent to Submit Portal for 2022 nine percent LIHTC applications. Once the Intent to Submit application is submitted, developers will receive an invoice and instructions to pay a $5,000 application fee to unlock the full application.
Pennsylvania QAP Hearing – Feb. 22
The Pennsylvania Housing Finance Agency will hold a virtual hearing on its draft 2022 QAP at 9 a.m. ET on February 22, register here. Comments should be sent to [email protected] by February 22.
Pennsylvania Budget Includes $50 Million for Construction Cost Relief Program, Increases to State Credits
The fiscal year 2021/2022 Pennsylvania state budget includes funding for the development of affordable rental housing in three main program areas:
PHFA Announces FY-2021-2022 State Budget Highlights
The Pennsylvania Housing Finance Agency (PHFA) has announced that the fiscal year 2021/2022 state budget will include funding for the development of affordable rental housing in three main program areas:
Initiate FHLBank of Pittsburgh AHP Application by July 9
The Federal Home Loan Bank of Pittsburgh is encouraging applicants of its Affordable Housing Program (AHP) to initiate their application by July 9. Applicants will receive a link to the bank’s recorded AHP Tips Webinar. Applications are due by 5 p.m. ET on August 10. For more info, please see the Technical Guide for Sponsors or Technical Guide for Members. If you have questions about the AHP application process, please contact [email protected].
Pennsylvania Extends Closing Deadline to Sept. 30
The Pennsylvania Housing Finance Agency is extending the closing deadline for Program Year 2020 developments due to the COVID-related construction pricing increases and delays from July 31 until September 30, 2021. This extension is available for all Program Year 2020 developments that applied in the 2020 application round and continue to hold a valid allocation of 2020 credits or conditional forward commitment of 2021 credits subject to 2020 Program Year deadlines.
Pennsylvania Fills Construction Increase Gaps with NHTF
Beginning immediately, Pennsylvania Housing Finance Agency (PHFA) will accept a Notice of Intent to Submit an Application for the National Housing Trust Fund (NHTF) to support developments, which received an award of tax credits from the 2019 or 2020 funding round, and which have realized a financing gap due to an increase in construction costs. Applicants must demonstrate a need for NHTF funding. Priority will be given to applicants that obtain other additional funding to supplement the request for NHTF.
Pennsylvania Pilots Developer Opportunity Fund
The Pennsylvania Housing Finance Agency (PHFA) is piloting a Developer Opportunity Fund to help address issues faced by small, disadvantaged (including minority and women), nonprofit and community LIHTC developers.
Pennsylvania 2021 Multifamily Application Materials
The Pennsylvania Housing Finance Agency (PHFA) posted the 2021 Multifamily Housing Application and Program Materials, which cover requests for LIHTCs, PennHOMES, PHARE Housing Trust Funds (HTF) and Agency first mortgage products used in connection with the development or preservation of affordable rental housing in the Commonwealth.
Pennsylvania Approves 2021 QAP
On November 12, the Board of the Pennsylvania Housing Finance Agency (PHFA) approved the 2021 LIHTC QAP. Applications for multifamily housing resources will be accepted following a two-step process. Developments seeking Agency funding must submit an Intent to Submit by December 4, 2020 with a full application due on or before February 5, 2021.