HARRISBURG, PA — The Pennsylvania Housing Finance Agency has opened competitive bidding for $4.5 million in mixed-use development tax credits, with proceeds from the sale earmarked to help finance community revitalization projects across the state.
Bids are due by 2 p.m. on July 24, and tax credit awards are expected to be announced within 90 days after the bidding period closes, the agency announced.
The tax credits allow successful bidders to offset Pennsylvania state tax liabilities. Eligible participants include businesses, nonprofit organizations and individuals. Revenue generated through the sale will fund the construction or rehabilitation of mixed-use developments selected later this year through a separate competitive request for proposals process.
“The funding generated through the sale of these tax credits will drive revitalization efforts that create affordable housing, expand commercial opportunities and strengthen communities across Pennsylvania,” PHFA Executive Director and Chief Executive Officer Robin Wiessmann said. “The proceeds generated through the sale of these tax credits are essential to making these transformative projects possible.”
The mixed-use development tax credit program was created under Pennsylvania’s 2016-17 state budget and has been administered by PHFA since it was implemented in 2017. The agency is authorized to sell the credits through negotiated or directed sales to qualified taxpayers.
Although awards will be issued in 2026, the credits will not become available for use until 2027 against 2026 Pennsylvania tax liabilities.
Program guidelines, bid requirements and additional information are available at www.phfa.org/mhp/developers/loans.aspx. Interested bidders may also contact Shelby Rexrode at PHFA at 717-780-1854 or srexrode@phfa.org.
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