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Second Amendment to the Pennsylvania Housing Finance Agency’s

Allocation Plan for Year 2019-2020

Low Income Housing Tax Credit Program

The Pennsylvania Housing Finance Agency (the "Agency") administers the Federal Low Income Housing

Tax Credit Program ("Tax Credit Program") in the Commonwealth of Pennsylvania (“Commonwealth”). On

July 12, 2018, the Agency adopted a plan (the "Allocation Plan") outlining the allocation priorities and

procedures to be followed in distributing Federal Low Income Housing Tax Credits ("Tax Credits") based on

the housing needs of the Commonwealth.

residents for a period of not less than 40 years, Applicant will certify this commitment in the

Application and the Restrictive Covenant Agreement will contain a provision waiving any right to

petition the Agency to terminate the extended use term (as described in the Code).

The last sentence in the second paragraph on Page 20 shall be amended to read:

The Restrictive Covenant Agreement will run for forty (40) years.

2. With respect to Development Sustainability and Energy Conservation Measures:

The Air Conditioning paragraph on Page 12 shall be amended to read:

 Air Conditioning. For new construction, substantial rehabilitation and preservation developments,

all commons spaces (except stair towers, mechanical rooms and storage rooms) must be air

conditioned.

measures found in the “Design Architect’s/Applicant’s Certification of Threshold Criteria” in the

Guidelines. (Not required if Applicant commits to achieving certification under one of the Green

Building Standards listed in the Selection Criteria.)

References to the 2009 International Conservation Code in Paragraph 6 on Page 16 shall be amended to

reflect the 2015 International Energy Conservation Code.

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3. With respect to funding from cash flow or deferred repayment (“soft financing”), Selection

Criteria D.5. related to Commitment of Funds on Pages 33 and 34 shall be amended to read:

o Inclusion of Private Capital and Soft Debt Funds – The Agency may award up to eight (8) points

for the inclusion of permanent amortizing debt and/or soft financing with an interest rate at or

donation or a reduction in development-related fees (i.e., tap-in, impact, recreational and/or other

development rights by the local government unit/municipality) may also be included. The

reduction must be measurable and based upon an existing fee schedule that applies to all

developments.

Comparison will be made between total qualifying financing and total development

costs, with possible points granted as follows:

o Inclusion of Funding Applied For and To Be Applied For – In accordance with the Code, all

applications must identify all sources of funding (including those to which the Applicant expects to

apply). Consideration for soft financing will be given for those sources with an interest rate at or

below the long term applicable federal rate in effect at the month of closing (which shall be

Jurisdiction

Percentage Points

5-10% 2-5% 2

>10-20% >5-10% 4

>20-30% >10-20% 6

>30% >20% 8