M. Steven O'Neill

The board discussed the audit plan for 2026 with the Agency's auditors. Additionally, the board approved requests for tax-exempt financing for the Hampton House, Saucon Manor, and Angela Court I and II projects. Updates were provided regarding housing resources, legislative developments, multifamily portfolios, and single-family operations. A public comment was received concerning issues related to homelessness.

The Board discussed potential changes to the Qualified Allocation Plan regarding unit income thresholds. Committee reports were presented, and the Board approved the transfer of ownership for two North Hills Highlands properties, as well as funding for six projects under the Community Revitalization Fund Program. Additionally, the Board authorized the issuance of Multifamily Mortgage Revenue Bonds Series 2026-MF1 and Single Family Mortgage Revenue Bond Series 154, 155, and 156. The meeting also included a presentation on Operation Resilience and compliance training, updates on upcoming housing conferences, and a reminder regarding the ethics filing deadline.

The board meeting included the introduction of a new board member, recognition of retirees, and updates from the Policy Committee. The Program and Development Review Committee presented various proposals, including transfers of ownership for North Hills Highlands projects, dispositions of properties like Garden Court, Towpath Apartments, and Felton Lofts, and commitments for mortgage financing. Additionally, the board received updates regarding the New Markets Tax Credit allocation to Commonwealth Cornerstone Group, housing resources, legislative developments, and an economic market update. Public comments were heard regarding the Amber Manor project, and an executive session was held to discuss ongoing legal matters.

The meeting announced is scheduled to conduct normal Agency business and approve the issuance of certain Agency securities. The agenda items for the subsequent board meeting included the election of the Vice Chair of the Board, committee reports from Policy and Program Development Review, authorization of the Resiliency Fund, approval of various financing and ownership transfer requests (including Savoy 48, Opera House, and Cornerstone at Pennbrook), and discussion of tax-exempt financing for Fifth and Dinwiddie, with delegated authority to the PDR Committee for minor modifications. The agenda also covered Housing Resources Updates, confirmation of the Director of Human Resources, and an Executive Session to discuss ongoing Agency matters with Agency Chief Counsel.

The upcoming board meeting is scheduled to conduct normal Agency business and approve the issuance of certain Agency securities. The agenda includes reports from the Audit Committee and the Program Development Review Committee, which involves requests for commitment of first mortgage financing for ten specified apartment projects and requests for tax-exempt financing for two Fairhill phases. Updates on the PA HAF program and Housing Resources are also planned.