WE ARE THE PENNSYLVANIA DEVELOPERS’ COUNCIL
Our aim is to provide developers and industry professionals a powerful and collective voice for advocacy in our industry while promoting adequate public and private resources for production, rehabilitation and operation of housing affordable to people with low incomes.
To fulfill our mission, the Low Income Housing Tax Credit program and other related programs must continually be supported. These programs help to provide a vital source of financing for development and economic growth while nurturing partnerships with governmental agencies, including the Pennsylvania Housing Finance Agency.
WHAT IS THE LOW INCOME HOUSING TAX CREDIT?
The Low-Income Housing Tax Credit (LIHTC) is the federal governments primary program for encouraging the investment of private equity in the development of affordable rental housing for low-income households.
WHY IS THE LOW INCOME HOUSING TAX CREDIT SO IMPORTANT?
IT HELPS PRODUCE HOMES
Since 1986, the LIHTC nationally has produced more than 2.4 million apartments for low-income families.
IT HELPS TO CREATE JOBS
Each year the LIHTC generates 140,000 jobs. Over the last 5 years affordable developers have created over 4,000 jobs in PA alone.
IT HELPS TO GROW THE ECONOMY
Nationally, the LIHTC has produced $6.8 billion in economic impact nationally and $200 million in Pennsylvania.