Affordable Housing

PHFA Updates Placed-in-Service Package Requirements

The Pennsylvania Housing Finance Agency (PHFA) has updated their Placed-In-Service Package requirements. There are numerous changes and clarifications to the package; which PHFA believes will help developers submit complete Placed-In-Service Packages, and therefore reduce the time it takes to receive their IRS Form 8609. The changes to the Placed-In-Service Package were introduced in two sessions […]

Faces of Affordable Housing

Members of McKonly & Asbury’s affordable housing team attended Housing Development Corporation MidAtlantic (HDC)’s Faces of Affordable Housing Banquet on April 26, 2017. HDC honored Brian Hudson as their Housing Advocate of the Year for his dedication, advocacy, and service to the affordable housing community. Mr. Hudson is the Executive Director and Chief Executive Officer […]

PHFA Approves 2017/2018 Qualified Allocation Plan

The Pennsylvania Housing Finance Agency (PHFA) approved the final 2017/2018 Qualifed Allocation Plan (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 by 3:00 p.m. on September 8, 2017. Announcements […]

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 […]

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