HARRISBURG, PA — The Pennsylvania Housing Finance Agency (PHFA) announced it is now accepting bids for $4.5 million in mixed-use development tax credits aimed at boosting community revitalization. The funds raised through this process will finance the construction or rehabilitation of mixed-use developments across Pennsylvania. Interested bidders have until 2 p.m. on Friday, July 18, to submit their offers.
The tax credits, which can be used to reduce state tax liabilities, are available to corporations, organizations, and individuals. PHFA’s intention is to maximize funding through this competitive bidding process to ensure substantial investment in revitalization projects. The projects receiving funding will be selected later this year through a Request for Proposals (RFP) process.
“Mixed-use developments bring the benefit of both commercial activity and affordable housing to a community,” said Robin Wiessmann, PHFA Executive Director and CEO. “We’re grateful to those who bid on these tax credits because the funding they provide makes the construction or rehabilitation of these mixed-use developments possible.”
The mixed-use tax credit program was established as part of Pennsylvania’s 2016-2017 fiscal budget and has been administered by PHFA since its inception. Credit awards are expected to be finalized within 90 days after the bid deadline, with official allocations made later in 2025. However, the credits will not be available for use until 2026, applicable to the 2025 tax year.
More information about the mixed-use development tax credit and bidding process is available on the PHFA website: www.phfa.org/mhp/developers/loans.aspx (scroll down). Program guidelines and bid criteria are posted there. For more details, contact Shelby Rexrode at PHFA at (717) 780-1854 or srexrode@phfa.org.
This initiative reflects PHFA’s ongoing effort to foster commercial growth and affordable housing in Pennsylvania’s communities. The funds raised through the tax credits will play a key role in advancing long-term development and revitalization efforts statewide.
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