PHFA Annouces 2016 Low-Income Housing Tax Credit and PennHOMES Funding Awards
07/18/2016
On Friday, July 15, 2016, Governor Tom Wolf announced awards of $40.3 million in tax credits and $5.9 million in PennHOMES funding for the construction of 39 affordable multifamily housing developments located throughout Pennsylvania. The tax credits are administered by the Pennsylvania Housing Finance Agency and were approved by its board. The tax credits awarded to developers will be used to attract more than $407 million of investment funding for building, and rehabilitating, multifamily housing offering affordable rents.“This tax credit program touches many lives by making affordable housing available through a powerful partnership between the
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