The Pennsylvania Housing Finance Agency (PHFA) issued a draft of their 2013 Qualified Allocation Plan (QAP). For 2013, PHFA will be accepting applications in two cycles. Developments located in “urban” areas will be accepted on November 2, 2012, while all other applications, which will be considered “suburban/rural,” will be accepted on February 15, 2013. PHFA has established preferences for the 2013 credits in each cycle which include: general occupancy, senior occupancy (ages 62 and older), properties furthering the preservation of affordable housing, applications for supportive housing, community revitalization developments, areas of opportunity, and strategic investment developments. PHFA may also provide a preference to developments using Pennsylvania sponsored pilot programs or meeting specific market needs or PHFA goals.

McKonly & Asbury is a leader in preparing and consulting on low-income housing tax credit applications in Pennsylvania. Our team is passionate about making your application a success. We have a comprehensive understanding of the challenges and nuances of structuring a low-income housing tax credit deal. We are able to assist you in putting the entire application package together for submission, or we can review your application and provide suggestions for optimizing points for PHFA scoring. We will help you maximize your tax credits and, therefore, increase your equity proceeds. For more information, please contact Elizabeth Brooks at ebrooks@macpas.com.