The Pennsylvania Housing Finance Agency (PHFA) has issued a draft of their 2016 Qualified Allocation Plan (QAP). According to Holly Glauser, PHFA's Director of Development, who spoke about the QAP at McKonly & Asbury's June Affordable Housing Seminar, there will be surveys and focus groups during July and August, with preliminary approval of the QAP anticipated on September 9, and final approval anticipated on October 8.

According to the draft QAP, applicants will be required to submit an Intent to Submit a Tax Credit Application - Fact Sheet and Development Synopsis on or before January 9, 2016. The entire application package is due to PHFA by 3:00 p.m. on March 4, 2016.It appears that the requirements for the 2016 application will be similar to the application requirements for the 2015 application. Stay tuned for further details!

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 us at affordablehousing@macpas.com.