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May 2017

April 2017

PHFA Approves 2017/2018 Qualified Allocation Plan

PHFA_logo_300The Pennsylvania Housing Finance Agency (PHFA) approved the final 2017/2018 Qualifed Allocation Plan (QAP).

Applicants will be required to submit an Intent to Submit a Tax Credit Application - Fact Sheet and Development Synopsis on or before July 7, 2017. The entire application package is due to PHFA by 3:00 p.m. on September 8, 2017.

Announcements of the 2017/2018 funding is expected in the Spring of 2018.

PHFA will hold a Pre-Application Workshop on May 10, 2017, at the Crowne Plaza Harrisburg/Hershey from 1:00 - 4:00 pm.

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

Registration is Open!

Blog main picRegistration is now open for McKonly & Asbury's next Affordable Housing Seminar to be held on Friday, May 19, 2017.

Topics and speakers to include:

Tax Credit Hot Topics - Judy Crosby, Esq. from Kutak Rock will speak about “Tax Credit Hot Topics,” including legislative updates relating to the low-income housing tax credit program. Judy has been a popular speaker at our seminars in the past and we are excited to welcome her back!

News From PHFA - Holly Glauser, Director of Development at the Pennsylvania Housing Finance Agency, will speak on recent low-income housing tax credit news from PHFA's perspective. Holly is always a welcomed speaker and we look forward to her update from PHFA!

LIHTC Acquisition/Rehab Issues – Judy Crosby will address issues related to acquisition/rehab deals, including walking us through an example from the Guide for Completing Form 8823.

Panel Discussion: Bond Deals and the 4% Credit – Judy Crosby; Claude Hicks, Director of Real Estate Development at Housing Development Corporation MidAtlantic; and members of the McKonly & Asbury affordable housing team will be featured in a panel discussion on bond deals and the 4% credit.

Accounting for Construction Period/Development Costs - The McKonly & Asbury team will talk about accounting for development and operating cash, entity expenses, and accounting during the construction period.

Accounting Technical Update – The McKonly & Asbury team will discuss a new accounting rule that affects general partners in a limited partnership.

Time and Location Information:

Date: Friday, May 19, 2017

Time: 10:00AM – 3:00PM (Registration begins at 9:30 AM)

Location: Giant Community Center – inside the Giant Food Store at 3301 East Trindle Road, Camp Hill, PA 17011

Fee: $35 (includes lunch)

4.25 CPE credits are available.

Click here to register.

Contact or Melissa Roberson at (717) 972-5822 with questions.