PHFA accepting bids for $10 million in affordable housing tax credits
Proceeds of sale will help create or renovate an anticipated 400 affordable rental units
PHFA staff anticipate the proceeds from these credits will result in the creation or renovation of 10 affordable multifamily developments and 400 total affordable rental units.
“The creation of the Affordable Housing Tax Credit is a big win for Pennsylvanians, and we are excited to open up bidding for this tax credit,” said PHFA Executive Director and CEO Robin Wiessmann. “We look forward to working with the winning bidders to secure funding to be used to expand affordable housing opportunities throughout the Commonwealth.”
These tax credits will be used by the winning bidder to reduce their state tax liability. Bidders can be companies, organizations, or individuals. The intent of the bidding process is to raise as much funding as possible from the $10 million in tax credits being made available. PHFA will award credits to the highest qualified bidders.
The Affordable Housing Tax Credit was created as part of Act 45 of 2025 and PHFA was directed to administer the credit. The AHTC was established to encourage the development, rehabilitation and preservation of qualified low-income rental housing projects.
About PHFA
Media Contact: Chris Anderson
[email protected] – 717-780-3915
SOURCE Pennsylvania Housing Finance Agency