Pennsylvania Housing Finance Agency

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.

The Board meeting agenda included the election of a Vice Chair, discussion of the 2026 draft PHARE plan by the Policy Committee, and review of several proposals by the Program and Development Review Committee. These proposals involved approving the transfer of general partner interests for Concord Pointe and Ambler Plaza, committing first mortgage financing for Evan Owen Apartments and Henley Lofts, and approving tax-exempt financing for Philadelphia Preservation 4%. Other key items included Housing Resources Updates, announcements of the 2026 Kathy A. Possinger Housing Policy Fellowship Award recipients, approval of the Agency's program funding for the 2026 calendar year, and setting tentative board meeting dates for 2026.

The Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund (PHARE) Plan outlines the strategic approach for utilizing state and federal funds to support affordable housing across the Commonwealth. Its core principles emphasize maximizing resource leveraging, ensuring long-term affordability, addressing the greatest housing needs through new construction, rehabilitation, and preservation, fostering strong partnerships, ensuring effective and efficient implementation, promoting equitable and transparent allocation of funds, and enabling emergency responses to critical housing needs. The plan details an analysis of housing needs, considers real estate market dynamics, specifies funding allocation and use, and prioritizes high-quality design and construction. Specific funding priorities are outlined for Marcellus Shale, Realty Transfer Tax, and National Housing Trust Fund allocations, targeting vulnerable populations, reducing homelessness, and promoting homeownership through various initiatives.