The Pennsylvania Housing Finance Agency has released the proposed 2010 Low Income Housing Tax Credit Allocation Plan for public comment. Under the proposed QAP, the Agency will allocate 2010 Tax Credits based on these overriding principles and preferences:
- Projects demonstrating an ability to proceed as determined by the Agency to maximize the benefits of the stimulus programs through the Tax Credit Program, while meeting reasonable cost parameters and achieving basic program standards as set forth in the Multifamily Program Guidelines;
- Projects achieving geographic distribution and affording diversity of project type (general occupancy, elderly and special needs) to the extent the Agency determines appropriate;
- Projects allowing the Agency to achieve the federally mandated nonprofit set aside; and
- Projects serving the lowest income residents.
A public hearing has been scheduled for Tuesday, November 24, 2009 at 9:00 a.m. at the Pennsylvania Housing Finance Agency, 211 North Front Street, Harrisburg, PA.
