2020-2021 Low Income Housing Tax Credit Program (LIHTC) Pre-Application
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 located inside the City limits to complete.
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 and prioritize the applications they support. In the interest of vetting each prospective project in a clear and even manner, the City of Pittsburgh (City) and Urban Redevelopment Authority (URA) have developed the attached pre‐application that we are sending to potential 2020‐2021 LIHTC applicants.
We intend to use the pre‐application as a means to allow the City and the URA to rank the potential projects relative to one another. We 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 unitsand/or site selection;
- The utilization of innovative and environmentally sustainable design and constructionpractices;
- The ability of the project to provide services, features, and opportunities, in addition tohousing, 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; and
- 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 with the increase in interest and decrease in resources, the City of Pittsburgh needs to be more effective and strategic in working with PHFA during this extremely competitive selection process.
Please submit an electronic copy (PDF format) or link to digital file location (e.g. Dropbox/Smartsheet) of your completed pre‐application to Shaina Madden, Assistant Director of Residential and Consumer Lending (email@example.com) no later than Monday, November 9, 2020, 4pm ET. Should you have any questions, please contact Shaina Madden, firstname.lastname@example.org (412‐926-4054).
Thank you for considering to invest in the City of Pittsburgh.
•Preliminary plans and renderings;
•Preliminary development budget, clearly listing all sources and uses of funds (in a formatconsistent with the PHFA Multifamily Core Application);
•Preliminary 15‐year operating budget, cashflow analysis, and narrative (in a formatconsistent with the PHFA Multifamily Core Application);
•URA MWBE narrative, you can find a document outlining the requirements here;
•URA Minority Workforce Inclusion narrative, you can find a document outlining therequirements here;
•Evidence of community support/input for the project; and
•An application fee of $500 made payable to The Urban Redevelopment Authority (URA) of Pittsburgh. Please send checks to:
URA/Dollar Bank Lockbox
P.O. Box 3455
Pittsburgh, PA, 15230-3455
The Urban Redevelopment Authority of Pittsburgh abides by all applicable laws and regulations regarding nondiscrimination and refrains from discriminating on the basis of age, race, color, religious creed, ancestry, national origin, sex, sexual orientation, gender identity, gender expression, political or union affiliation, and/or disability. No person shall be excluded from participation in, be denied the benefits of, or otherwise be subjected to discrimination solely on the basis of any of the above factors under the loan and grant programs operated by the Urban Redevelopment Authority of Pittsburgh.