Pennsylvania

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: 

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 ahp@fhlb-pgh.com.

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.

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.

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.

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.

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.

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 […]

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.

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 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.

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 […]