McKonly & Asbury to Present “Tax Credits 101” at Homes Within Reach Seminar
Affordable Housing Success Story - Park Avenue Apartments, Lancaster, Pennsylvania

McKonly & Asbury Holds Fall Affordable Housing Seminar

Blog main pic McKonly & Asbury hosted an informative affordable housing seminar on Monday, October 18, 2010 at the Giant Community Room in Camp Hill.

Brian Shull, Senior Development Officer at the Pennsylvania Housing Finance Agency (PHFA), talked about PHFA’s Preservation Through Smart Rehab Program. Brian talked about the program goal, target projects, eligibility to participate in the program, and the process to participate. This program is designed to provide financing for the installation of energy efficiency measures that materially reduce energy demand and utility costs of projects. To access an application for this program, click here

Angela Tracy, Customer Programs Director, of PPL Electric Utilities, spoke about energy efficiency, as well as the Winter Relief Assistance Program (WRAP). WRAP is a no charge weatherization program for PPL customers who use a certain amount of electricity and meet certain income guidelines. Energy educators show residents ways to reduce utility bills. Energy-saving measures such as insulation, appliance replacement, and air-sealing may be provided at no cost to the renter.

A.J. Johnson, president of A.J. Johnson Consulting Services, Inc. presented an update on recent rulings and regulations relating to low-income housing tax credits. A.J. also talked about critical Internal Revenue Code Section 42 property management issues, current IRS actions and concerns, and gave practical examples of IRS noncompliance issues.

Marylynn Sergent, Government Accountability Office Assistant Director of Pennsylvania State Team Reporting and Andy Finkle, Government Accountability Office Assistant Director of TCAP and Section 1602 Reporting, discussed TCAP and Section 1602 (funding provided by the American Reinvestment and Recovery Act) Progress as well as summarized the May 2010 and September 2010 GAO report recommendations. Marylynn and Andy also gave examples of projects in Pennsylvania that have successfully used these funds. To read more about the GAO Recovery Act Reports, click here.

Josh Bantz, a manager in the affordable housing segment at McKonly & Asbury and one of the Affordable Housing Gurus, gave an overview of forecasts for low-income housing tax credit projects. Josh touched on what a forecast is, when and why one is needed, and what is needed to prepare one.

McKonly & Asbury began our affordable housing seminar series in 2007 to educate our clients. We have featured speakers from the Pennsylvania Housing Finance Agency, the Department of Community and Economic Development, Pepper Hamilton, LLP, PNC Multifamily Capital, Rockport Mortgage, and other experts in the affordable housing community. McKonly & Asbury has been a provider of services to the affordable housing community since 1977, with expertise in servicing HUD, PHFA, Section 42 tax credits, Rural Development, and other affordable projects. Our services include audits and tax preparation, financial forecasting and modeling, cost certification audits, preparation of low-income housing tax credit and other funding applications, and other services to support affordable housing developers and managers.

We hope you’ll join us for our next seminar being held at the 2010 Homes Within Reach conference at the Harrisburg Hilton. Join us on November 8, 2010 from 12:30p.m. – 5:30 p.m. at the Homes Within Reach conference at the Harrisburg Hilton for concentrated instruction on the various phases of developing a Low-Income Housing Tax Credit project. We will be joined by experts in their respective fields of the LIHTC industry for an in-depth look at all aspects of a tax credit development.     

Are you interested in learning more about our services or attending a future seminar or learning about future seminar topics? E-mail and ask to be added to our e-mail list. We also welcome suggestions for future seminar topics.


Feed You can follow this conversation by subscribing to the comment feed for this post.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)