Affordable Housing

Register Today! Affordable Housing Seminar on May 19

Registration is now open for McKonly & Asbury’s next Affordable Housing Seminar to be held on Friday, May 19, 2017. Topics and speakers to include: Tax Credit Hot Topics – Judy Crosby, Esq. from Kutak Rock will speak about “Tax Credit Hot Topics,” including legislative updates relating to the low-income housing tax credit program. Judy […]

2017 FHLBank Pittsburgh AHP Funding Round

The FHLBank Pittsburgh has announced its 2017 funding round for the Affordable Housing Program. The funding round will open on June 6 and there is approximately $23 million in funding available for 2017. Applicants may apply for a maximum of $650,000 per development. Applications are due on August 10 and awards will be announced on […]

Recent FASB Release Concerning the Disclosure of Debt Issuance Costs

In April 2015, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) 2015-03, Simplifying the Presentation of Debt Issuance Costs. The purpose behind the release of this ASU was to reduce the complexity surrounding the disclosure of debt issuance costs and debt discounts and premiums and, in turn, provide the users of financial […]

PHFA Issues Draft 2017/2018 Qualified Allocation Plan

The Pennsylvania Housing Finance Agency (PHFA) has issued a draft of their 2017/2018 Qualified Allocation Plan (QAP). According to the draft QAP, applicants will be required to submit an Intent to Submit a Tax Credit Application – Fact Sheet and Development Synopsis on or before July 7, 2017. The entire application package is due to PHFA […]

McKonly & Asbury’s 2017 Affordable Housing Seminars – Save these Dates!

The dates for McKonly & Asbury’s 2017 affordable housing seminars have been set! Our first seminar is planned for Friday, May 19, 2017. Holly Glauser, Director of Development at PHFA, Judy Crosby, Esq. of Kutak Rock, LLP, Claude Hicks, Director of Real Estate Development at Housing Development Corporation MidAtlantic, and members of the McKonly & Asbury […]

Year End Audit and Tax Planning Tips for Affordable Housing Partnerships

It’s that time of the year to prepare for your partnership’s calendar year end audits and tax returns. Below are some tips to help owners and managers of affordable housing partnerships help ensure reporting deadlines are met and to minimize the disruption by auditors and tax preparers to your day to day operations. Audit/Accounting Be […]

Picnic at Mann Edge Terrace

On August 24, 2016, McKonly & Asbury had the privilege of hosting a picnic for the residents of Mann Edge Terrace in Lewistown, Pennsylvania. Over two dozen residents participated, along with a few of the staff of SEDA-COG Housing Development Corporation, the developer/manager of the property. Held on-site at the apartment building, the McKonly & […]

McKonly & Asbury’s Fall 2016 Affordable Housing Seminar – September 29

McKonly & Asbury’s Fall Affordable Housing Seminar will be held on Thursday, September 29, 2016. We are pleased to welcome back A.J. Johnson as our speaker for this seminar! Mr. Johnson will cover topics including acquisition/rehab deals and issues related to those deals such as rent up, qualified units, and the 120 day rule. Mr. […]

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