2020 Affordable Housing Seminars – Save These Dates!

AH-Seminars-2020The dates for McKonly & Asbury’s 2020 Affordable Housing Seminars have been set!

(Updated 4.7.20) Our Spring Seminar, originally scheduled for Monday, May 18, 2020 has been cancelled due to the uncertain situation caused by COVID-19.In place of our seminar, we are working to create a webinar series! Stay tuned for more info!

Our Fall Seminar is planned for Thursday, September 24, 2020. A.J. Johnson will once again be joining us as the speaker! A.J. is President of A.J. Johnson Consulting Services, Inc., a full service real estate consulting firm specializing in due diligence and asset management issues, with a particular emphasis on properties utilizing the Low-Income Housing Tax Credit.

New this year! The Fall Seminar will be held at the Red Lion Hotel Harrisburg Hershey, conveniently located at 4751 Lindle Road in Harrisburg, PA. This new location provides easy access to both I-83 and the PA turnpike.

Stay tuned for more details!


McKonly & Asbury’s Book Drive Supports HDC MidAtlantic’s Story Time Program

In keeping with our Purpose Through Profits initiative, McKonly & Asbury recently sponsored a book drive to support Housing Development Corporation MidAtlantic’s (HDC), Story Time program. This reading program is designed to benefit children living at Duke Manor Apartments to build their reading skills, friendships and confidence.

IMG_6294

McKonly & Asbury donated over 200 books to the program and several staff members took the initiative to sign up as guest readers throughout the year. These guest readers will spend an hour reading to Story Time participants at Duke Manor Apartments in the Lancaster area.

HDC-1

M&A’s Purpose Through Profits initiative encourages employees to utilize their strengths and resources to make giving back an integral part of who we are as a company. McKonly & Asbury is a leader in accounting and consulting for affordable housing developments in Pennsylvania. The clients that we serve provide over 7,000 units of safe, quality, affordable housing. For more information, please visit our website or contact affordablehousing@macpas.com.

HDC-5


Registration is Open! Fall 2019 Affordable Housing Seminar - October 22

Blog Image_fallRegistration is now open for McKonly & Asbury’s Fall 2019 Affordable Housing Seminar! This year’s seminar will be held on Tuesday, October 22, 2019. You won’t want to miss it!

We are excited to once again welcome A.J. Johnson of A.J. Johnson Consulting as our speaker. A.J. will be presenting on "Understanding the Requirements of the IRS 8823 Guide". This course will cover all elements of the IRS 8823 Guide, including definitions and examples of noncompliance, dealing with over-income households, understanding the risk of not recertifying tenants, traps relating to the use of common area, the General Public Use Rule, and a detailed review of new IRS positions relative to rents and fees.

Additional Information:

Date: Tuesday, October 22, 2019
Time: 9:00AM – 3:30PM (Registration begins at 8:30 AM)
Location: Giant Community Center – inside the Giant Food Store at 3301 East Trindle Road, Camp Hill, PA 17011
Fee: $195 (includes breakfast and lunch)

Attendees are eligible for 5.5 "Specialized Knowledge" Continuing Professional Education Hours. The level of content is Intermediate to Advanced and a basic understanding of the LIHTC program is the only prerequisite.

Click here to register. We hope to see you there!!

 


Save the Date! Fall Affordable Housing Seminar – October 22


Web Image_fallMcKonly & Asbury’s next Affordable Housing Seminar is planned for Tuesday, October 22, 2019.

We are excited to once again welcome back A.J. Johnson as our speaker. Join us as A.J. explores topics related to the development of affordable housing.

The seminar will be held at the Giant Community Center – inside the Giant Food Store at 3301 East Trindle Road, Camp Hill, PA 17011.

Stay tuned for additional details on topics and how to register!

 


PHFA Announces 2019 Low-Income Housing Tax Credits and PennHOMES Awards

PHFA_logo_300Governor Tom Wolf yesterday announced awards totaling $41.6 million in low-income housing tax credits and $7.7 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.

"Tax credits are the best tool we have for funding the construction of affordable rental housing," said Governor Wolf. "Tax credits provide the incentive for investment, which in turn funds the construction. The end result is more affordable housing options for Pennsylvanians."

When completed, the developments receiving funding yesterday will preserve and create an additional 1,708 rental housing units for Pennsylvania residents.

Continue reading "PHFA Announces 2019 Low-Income Housing Tax Credits and PennHOMES Awards" »


Partner & Director of Affordable Housing Services, Elizabeth Harriger, Named Among 2019 Women of Influence

WOI-2019We are so excited to announce that McKonly & Asbury Partner & Director of Affordable Housing Services, Elizabeth Harriger, was named last week as one of the Central Penn Business Journal’s 2019 Women of Influence! The Women of Influence Awards honor established business leaders with proven track records of community service and business accomplishments.

The outstanding women on this list influence others through their personal successes and achievements. Along with being a Partner at McKonly & Asbury, Elizabeth is Director of Affordable Housing Services, with over 20 years of extensive audit, tax, and consulting experience in the affordable housing industry. She leads the firm’s affordable housing team in tax and consulting and provides technical review and consultation for affordable housing audits. Elizabeth also provides low-income housing tax credit training to clients and other organizations. Active in the community, she is a Budget and Finance Committee member of the Helen O. Krause Animal Foundation, Inc., board member of the Cumberland County Affordable Housing Trust Fund, and volunteers with many other community organizations and her church.

Continue reading "Partner & Director of Affordable Housing Services, Elizabeth Harriger, Named Among 2019 Women of Influence" »


McKonly & Asbury Spring Affordable Housing Recap

AH Seminar Spring

McKonly & Asbury’s 2019 Spring Affordable Housing Seminar was held on June 19, 2019. The day began with an update from PHFA’s Holly Glauser, Director of Development at PHFA. Holly spoke about the 2019 LIHTC tax credit round. Holly announced that currently the 2020 LIHTC tax credit application deadlines are mid-September for the Intent to Submit and November 15, 2019 for the final application. PHFA is not anticipating holding a pre-application meeting for this round since the Qualified Allocation Plan will not change. Holly also spoke about Tax Exempt Volume Cap activity, average income, and the new compliance monitoring regulations. Finally, Holly gave a brief overview of the Affordable Housing Credit Improvement Act.

Next, Judy Crosby, Of Counsel at Kutak Rock LLP, presented a legislative update which took a deeper look into Holly's overview of the Affordable Housing Credit Improvement Act. Judy also spoke about what nonprofit organizations should be on the lookout for when they are developing a low-income housing tax credit property. Judy gave some excellent tips for how to structure the partnership agreement as well as had a great discussion on the importance of certain tax items for the general partner.

Continue reading "McKonly & Asbury Spring Affordable Housing Recap" »


Registration is Open! June 19, 2019 Affordable Housing Seminar

Spring-ah-seminar-2019Each year, McKonly & Asbury’s Affordable Housing Team organizes two seminars with speakers that include investors, lenders, attorneys, and other industry experts, as well as members of our own team.

 

Registration is now open for McKonly & Asbury’s Spring Affordable Housing Seminar! This year’s seminar will be held on Wednesday, June 19, 2019. You won’t want to miss it!

Topics and speakers to include:

  • News from PHFA – Holly Glauser, Director of Development at PHFA
  • Legislative Update – Judy Crosby, Esq., Kutak Rock
  • Nonprofit Organizations Developing LIHTC Housing: What to Look Out For – Judy Crosby, Esq., Kutak Rock
  • Accounting for Construction Period/Development Costs – Josh Bantz, Senior Manager and Elizabeth Harriger, Partner & Director of Affordable Housing Services at McKonly & Asbury

Additional Information:

Date: Wednesday, June 19, 2019
Time: 10:00AM – 4:00PM (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: $40 (includes lunch)

Attendees are eligible for 5.5 Continuing Professional Education Hours (Specialized Knowledge). The level of the content is Intermediate to Advanced.

Click here to register. We hope to see you there!!

 


2019 Affordable Housing Seminars – Save These Dates!

AH Seminars - 2019

The dates for McKonly & Asbury’s 2019 Affordable Housing seminars have been set!

Our Spring Seminar is planned for Wednesday, June 19, 2019. Holly Glauser, Director of Development at PHFA; Judy Crosby, Esq. of Kutak Rock, LLP; and Elizabeth Harriger, Partner and Director of Affordable Housing Services, and Josh Bantz, Senior Manager, at McKonly & Asbury are scheduled to speak.

Our Fall Seminar is planned for Tuesday, October 22, 2019. A.J. Johnson will once again be joining us as the speaker! A.J. is President of A.J. Johnson Consulting Services, Inc., a full service real estate consulting firm specializing in due diligence and asset management issues, with a particular emphasis on properties utilizing the Low-Income Housing Tax Credit.

Both seminars will be held at the Giant Community Center – inside the Giant Food Store at 3301 East Trindle Road, Camp Hill, PA 17011.

Stay tuned for additional details!


McKonly & Asbury Fall Affordable Housing Seminar Recap

Blog main picMcKonly & Asbury’s 2018 Fall Affordable Housing Seminar was another outstanding day of training. The seminar was held on October 11, 2018, in Camp Hill, Pennsylvania. McKonly & Asbury was pleased to welcome back A.J. Johnson as our speaker. A.J. served as a technical advisor to Congressional staff during the drafting of both the Low-Income Housing Tax Credit Program and the Fair Housing Amendments Act of 1988. Currently, A.J. is President of A.J. Johnson Consulting Services, Inc., a full service real estate consulting firm specializing in due diligence and asset management issues, with a particular emphasis on properties utilizing the Low-Income Housing Tax Credit.


A.J. started the day with a summary of findings in the recent GAO report. He went on to discuss two more hot industry topics, which were income averaging and opportunity zones. Next came a discussion on IRS Forms 8823 and 8609. A.J. finished the morning session by covering issues relating to developing occupied rehabilitation properties. The afternoon session was focused on tenant file management and documentation for low-income housing tax credit properties.

Continue reading "McKonly & Asbury Fall Affordable Housing Seminar Recap" »