We had hoped the 2017 QAP would be released this fall and then shortly followed by a 9% LIHTC application deadline in early 2017. Unfortunately our hopes were dashed, and furthermore, the actual date of the QAP was unknown … until November 4.Below is a notice from PHFA regarding the 2017 QAP as well as other monies that will soon be available. We could not be more excited!
Low Income Housing Tax Credit and PennHOMES Programs
Guidance and Proposed Timeline for Year 2017-2018 Funding
UPDATE – November 4, 2016
The Pennsylvania Housing Finance Agency has established the following proposed timeline for the public comment and approval of the 2017-2018 Allocation Plan for Low Income Housing Tax Credits (Tax Credits) and processing applications for Tax Credits and PennHOMES funding (available through the federal HOME Investment Partnerships Program):
Draft Allocation Plan Issued for Comment
February 9, 2017
Final Allocation Plan Approved
March 9, 2017
Multifamily Application and Guidelines Available
April 28, 2017
May 10, 2017
Intent to Submit Due Date
July 7, 2017
Application Due Date
September 8, 2017
Award of Tax Credits and PennHOMES
Additionally, the Agency anticipates that 2017-2018 PHARE funds (Pennsylvania Housing Affordability and Rehabilitation Enhancement Funds) available through Act 13 of 2012 (Marcellus Shale Impact Fee), Act 58 of 2015 (Realty Transfer Tax) and the National Housing Trust Fund (HTF) will be reviewed and approved on a schedule that will coincide with the above timeline. The Agency will issue separate guidance and application requirements for PHARE in early 2017.
PHFA strongly suggests that you visit the Agency’s website at www.phfa.org for additional program information and updates.