The Pennsylvania Housing Finance Agency’s board recently approved its qualified allocation plan (QAP) for the agency’s 2010 low-income housing tax credit program. The agency will allocate 2010 tax credits based on the following overriding principles and preferences:
- Projects demonstrating an ability to proceed by maximizing the benefits of the LIHTC program, while meeting reasonable cost parameters and achieving basic program standards;
- Projects achieving geographic distribution and affording diversity of project type (general occupancy, elderly and special needs);
- Projects allowing the Agency to achieve the federally mandated nonprofit set aside; and,
- Projects serving the lowest income residents.
Applications for 2010 Tax Credit Projects may be submitted to the Agency on or before February 26, 2010.
