City of Pittsburgh Low-Income Housing Tax Credit Pre-Applications are Open for 2020-2021
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 the URA obtain an understanding of how many and which deals may be seeking a commitment of URA financing and/or land in the PHFA application. Therefore, we have developed a pre‐application for 2020‐2021 LIHTC applicants who have projects inside City of Pittsburgh limits to complete.
We intend to use the pre‐application to understand the size, scope, and financial commitment needed for the projects in the City and to see if the URA/City have the resources for all applications. As we review the applications, we will look at 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)
We are grateful and extremely fortunate to have so many development teams looking to invest in our City by providing high quality affordable housing in our neighborhoods. However, the reality is that due to the increase in interest and decrease in resources, the URA needs to be more effective and strategic in reviewing the potential projects for the LIHTC round.
Those with questions should contact Shaina Madden, assistant director of Residential and Consumer Lending, at email@example.com or 412‐926-4054.