Pennsylvania
Pennsylvania Governor Signs Bill that Creates State LIHTC
Pennsylvania Governor Tom Wolf (D) signed legislation that establishes a state LIHTC. S.B. 30 creates a state credit that, once funded, will mirror the Federal LIHTC. Pennsylvania’s LIHTC features a requirement that at least ten percent of the credits for each award round be allocated for households with incomes at or below 30 percent of […]
Philadelphia Fed Updates Rental Housing Affordability Data Tool
The Federal Reserve Bank of Philadelphia updated its Rental Housing Affordability Data Tool for households in Pennsylvania, Delaware and New Jersey. The newly updated data suggest that housing insecurity was widespread among lower-income renters in the Third District even prior to the Coronavirus pandemic and the associated economic downturn.
NCSHA Announces Newly Elected Board Officers and Directors
The National Council of State Housing Agencies held its Board of Directors election on October 26 during the association’s 2020 Annual Conference & Showcase. Nominated from among, and voted on by the executive directors of the member state housing finance agencies, NCSHA’s newly elected Board officers are:
Bellwether Enterprise Acquires Maher Commercial Mortgage and Expands Presence in the Northeast
Bellwether Enterprise Real Estate Capital LLC announced the acquisition of Maher Commercial Mortgage, LLC. The team, led by Thompson Maher, is based in Philadelphia and will continue to focus on the Pennsylvania, New Jersey and Delaware markets.
PHFA’s Brian Hudson Retires, Robin Wiessman Named Executive Director & CEO
Brian A. Hudson Sr. retired after 45 years of working at the Pennsylvania Housing Finance Agency (PHFA). For the past 16 years, he has served as PHFA’s executive director and CEO, expanding the agency’s programs to better serve the housing needs of Pennsylvanians. The PHFA board of directors approved Robin Wiessmann as the new executive […]
Federal Reserve Bank of Philadelphia Publishes OZ Case Studies
Lei Ding and Peter Birke of the Federal Reserve Bank of Philadelphia have published a report on Opportunity Zones, “How Are Cities Leveraging Opportunity Zones for Community Development? Philadelphia as a Case Study.” Using Philadelphia as a case study, this study intends to reflect on the selection of Opportunity Zones in major cities and to explore real estate market trends and residential mobility in designated zones in Philadelphia.
Pennsylvania Seeks Comments on Proposed QAP Amendment
The Pennsylvania Housing Finance Agency (PHFA) released a second amendment to its 2019-2020 QAP to address certain eligibility criteria, which has changed since the adoption of the 2019-2020 Allocation Plan, specifically related to regulatory requirements and timing considerations. Comments on the amendment should be submitted by August 26.
Pennsylvania Announces LIHTC Availability
The Pennsylvania Housing Finance Agency announced availability of funding for its 2020 LIHTC and Loan Programs. Please see the Notice of Funding Availability for more information.
Pennsylvania 2019 Tax Bill Made Significant Changes to Tax Laws in the Commonwealth
The 2019 Pennsylvania Tax Act signed by Pennsylvania Governor Tom Wolf on June 28, 2019— made several changes to Pennsylvania tax laws. The Act adds Opportunity Zone conformity for personal income tax, adopts new sales tax provisions and amends other tax and credit provisions. Read more in this analysis from Ballard Spahr.
NSPIRE Demonstration Registration Now Open
HUD opened registration for its new National Standards for the Physical Inspection of Real Estate (NSPIRE) Demonstration. NH&RA encourages all eligible PHAs, owners and agents to participate in the NSPIRE demonstration. Properties will be given an advisory NSPIRE score and the most recent UPCS score will remain on the books. NSPIRE demonstration participants will have the opportunity to shape the new REAC inspection protocol and to prepare in advance of the mandatory changes.
Pennrose Named a 2019 Healthiest Employer of Greater Philadelphia
Pennrose was recognized as a Healthiest Employer by the Philadelphia Business Journal. This was the fifth time that Pennrose has received this recognition. The award recognizes the company for its commitment to employee health and for achieving exceptional and sustainable success through a broad range of company and employee wellness initiatives.
Woda Cooper Companies Opens Senior Community Featuring Energy-Efficient Passive House Design
Woda Cooper hosted a grand opening and ribbon-cutting on May 15, 2019 for its new Muncy Greene development. The $13.8 million development features 60 single-level apartments that are geared towards low-income seniors. It is one of the first multifamily properties in Pennsylvania to be built to Passive House Institute US certification standards to ensure energy efficiency and low heating and cooling cost.