HUD released the 2024 MTSP Income Limits, effective 4/1/24 with an implementation requirement of 5/16/24.
They are now live in the Web Entry System. If your property is not placed-in-service, you will need to calculate the correct limit with the assistance of the appropriate chart. If, however, your property is placed-in-service, you can look to the Agency’s Automated Web Entry System for the appropriate limits. Remember, limits are determined on a project/building basis and project/building charts can be obtained through the Web Entry System.
As in years past, we feel confident in the numbers provided by our system, but suggest you proof them.
UPDATE 1/17/2024 - For Web Entry Account Issues, please email request to multifamilywebsitesupport@phfa.org
UPDATE as of 11/3/2023 - PHFA is postponing the implementation of HOTMA scheduled for 1/1/2024 . HOTMA Implementation date To Be Determined. Please check back periodically for updates.
Effective immediately, PHFA no longer requires third-party verifications for Safe Harbor TICs.
Please reach out to your assigned Tax Credit Officer or Housing Management Rep with any questions.
When uploading a REVISED Owner’s Certificate, please upload the entire document; as the entire prior submission will be replaced by the revised document.
Compliance Automation Website Procedure
A Revised Pennsylvania Low Income Housing Tax Credit Program Lease Addendum is available for immediate use when signing a Lease Agreement with a LIHTC tenant.
The addendum specifically notes that no termination of tenancy (including nonrenewal of lease) is permitted by the Owner/Landlord except for “Good Cause”. Good Cause is defined as serious and repeated violations of the Lease by the tenant. It also provides for information to be provided to the Owner and Landlord (in case of an assigned Agent).
You may access this revised Lease Addendum on the Agency website at https://www.phfa.org/mhp/propertymanagement/
2023 LIHTC Annual Submission Reporting Requirements:
https://www.phfa.org/forms/housing_management/tax_credits/notices/2023-annual-reporting-notice.pdf