Affordable Housing

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. […]

McKonly & Asbury Holds School Supply Drive

McKonly & Asbury and Housing Development Corporation MidAtlantic have partnered to help children and families living at HDC MidAtlantic’s Springwood Glen Apartments prepare for the upcoming school year. “The team at McKonly & Asbury believes in building purpose through profits, using our firm’s strengths and resources to make giving back an integral part of who […]

PHFA Annouces 2016 Low-Income Housing Tax Credit and PennHOMES Funding Awards

On Friday, July 15, 2016, Governor Tom Wolf announced awards of $40.3 million in tax credits and $5.9 million in PennHOMES funding for the construction of 39 affordable multifamily housing developments located throughout Pennsylvania. The tax credits are administered by the Pennsylvania Housing Finance Agency and were approved by its board. The tax credits awarded to developers will be […]

McKonly & Asbury Affordable Housing Team Participates in Team Building Event

Members of the McKonly & Asbury Affordable Housing Team participated in a team building event on July 8, 2016. The team went to a local “Escape Room” where we worked together to unravel clues, solve a series of puzzles, and crack codes to open locked containers and beat the clock. As a team, we had […]

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