City of Pittsburgh Low-Income Housing Tax Credit Pre-Applications are Open for 2019-2020
Attention development partners:
With the increasing volume and competitiveness of applications for the Pennsylvania Housing Finance Agency (PHFA) 9% Low-Income Housing Tax Credit (LIHTC) program, it is critical that local governments be selective with the applications they support. In the interest of vetting each prospective project in a clear and even manner, the City of Pittsburgh (City) and the URA have developed a pre-application (below) for potential 2019-2020 LIHTC applicants.
The pre-application will allow the City and the URA to rank the potential projects relative to one another. The City/URA will then establish an appropriate number to support in pursuing an award of tax credits from PHFA.
While all the items outlined in the pre-application are important, the City and URA will place a particular emphasis on the following criteria:
- The experience and capacity of the development team to undertake the specific project
- The project’s readiness to proceed
- The ability of the project to advance a mixed-income community through the mix of units and/or site selection
- The utilization of innovative and environmentally sustainable design and construction practices
- The ability of the project to provide services, features, and opportunities, in addition to housing, that improve the quality of life for residents and the surrounding community
- How the project contributes to a broader community revitalization plan
- The creation of construction and permanent employment opportunities
- The amount of public subsidy being requested (total and per-unit)
The City/URA are grateful to have so many development teams looking to invest in our city by providing high quality affordable housing in our neighborhoods. With increase in interest and decrease in resources, the City of Pittsburgh intends to be more effective and strategic in working with PHFA during this extremely competitive selection process.