Pennsylvania Housing Finance Agency

This Allocation Plan outlines the procedures and priorities for administering the federal Low Income Housing Tax Credit (LIHTC) program within the Commonwealth of Pennsylvania. It supports the Commonwealth's Housing Action Plan for 2026-2035, which aims to achieve security and stability through safe and affordable housing. Key goals include building and preserving housing stock, expanding housing opportunities, providing pathways to housing stabilization, modernizing housing development regulations, and achieving operational excellence across state and local government.

The board meeting included the review and approval of the Agency's budget for the upcoming fiscal year. Discussions covered amendments to the 20% unit policy, first mortgage financing approvals for multiple housing projects, and the allocation of resources for the Pennsylvania Housing Affordability Rehabilitation and Enhancement (PHARE) program. Additionally, the board recognized staff retirements and discussed personnel matters during an executive session, which resulted in the authorization of a human resources budget including a compensation pool for employee salary adjustments.

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.