Affordable Housing Gurus

PHFA Extends 2010 Multifamily Housing Application Deadline

Due to the forecasted snow storm, the Pennsylvania Housing Finance Agency has extended the deadline for submitting the 2010 Multifamily Housing Application until 3:00 p.m. on Monday, March 1, 2010. 

McKonly & Asbury Spring 2010 Affordable Housing Seminar

 
SAVE THE DATE!

McKonly & Asbury Spring 2010 Affordable Housing Seminar

Friday, May 14, 2010
10:00 a.m. – 3:00 p.m.
Giant Community Center, 3301 East Trindle Road, Camp Hill, PA  17011

Join us for our first seminar in our 2010 seminar series!

Speakers include:

• McKonly & Asbury
• Holly Glauser-Abel, Director of Development, Pennsylvania Housing Finance Agency
• Tom Eastman, Vice President, Enterprise Community Investment, Inc.
•  Joanne Andrews, Marketing Consultant, JLA Consulting, LLC
 

There is a registration fee of $35 which includes lunch. CPE credits are available.

Watch for more information and be sure to save the date!

Proposed 2011 Federal Budget Extends LIHTC Exchange Program

Included in the fiscal year 2011 proposed budget transmitted to Congress today is an extension of the low-income housing tax credit exchange program created under Section 1602 of the American Recovery and Reinvestment Act of 2009 (the “Exchange Program”). Under the proposed extension of the Exchange Program, state housing credit agencies would be able to exchange their unused housing credit ceiling for 2009, prior year credit allocations returned to the state in 2010, 40% of their 2010 low-income housing tax credits, and 40% of the state’s share of the 2010 national pool allocation, if any, for cash.

This good news was much anticipated by Pennsylvania developers as they are looking at financing options for the 2010 tax credit application funding round.

For additional information on the Exchange Program, contact Elizabeth Brooks at ebrooks@macpas.com.