Members of McKonly & Asbury’s affordable housing team attended Housing Development Corporation MidAtlantic (HDC)’s Faces of Affordable Housing Reception on April 19, 2018.

One of the highlights of the evening was watching video testimonials by residents who live in properties managed by HDC. One testimonial came from a woman who described how her accessible apartment has dramatically improved her life and independence. Another testimonial came from a single mom who described how her affordable apartment has allowed her to pursue her dream of attending college where she is working toward becoming a professional dancer. Both stories were extremely moving!

Governor Tom Wolf yesterday announced conditional awards totaling $43.4 million in low-income housing tax credits and approximately $3.8 million in PennHOMES funding for the construction of 39 affordable multifamily housing developments in Pennsylvania. The tax credits are administered by the Pennsylvania Housing Finance Agency and were approved by its board.

"These tax credits are crucial because they fill a current void in the housing marketplace," said Governor Wolf. "Low-income housing tax credits make possible the construction of affordable rental housing that otherwise wouldn't get built. Given the ongoing demand for affordable housing, the apartments we make possible with this funding will make people's lives better and will meet a critical need in communities statewide."

When completed, the developments receiving conditional funding yesterday will preserve and create an additional 1,941 rental housing units for Pennsylvania residents.

Registration is now open for McKonly & Asbury’s next Affordable Housing Seminar to be held on Friday, May 18, 2018.

You won’t want to miss this seminar! We’ve brought in experts to discuss current hot topics in the Low-Income Housing Tax Credit industry.

Topics and speakers to include:

Cost Segregation Studies and 45L Credits - Luis Mego from KBKG. 

Legislative Update - Judy Crosby from Kutak Rock will give us a 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!

"Twinning" - Judy Crosby will discuss combining 9% development with a Tax Exempt Bond/3% development.