Please ensure Javascript is enabled for purposes of website accessibility Rivera: Over $1.4 million in tax credits awarded for low-income housing

Rivera: Over $1.4 million in tax credits awarded for low-income housing

Pennsylvania House Democratic Caucus    October 15, 2025 | 2:49 PM

LANCASTER, Oct. 15 -- The Apartments at College Avenue in Lancaster has been awarded more than $1.4 million in low-income housing tax credits by the Pennsylvania Housing Finance Agency, state Rep. Nikki Rivera, D-Lancaster, said.

“These tax credits will help provide more affordable housing in our community,” Rivera said. “Thanks to these credits, more working families, seniors and housing-insecure Pennsylvanians will have a home to call their own here in Lancaster.”

The federal Low-Income Housing Tax Credit Program provides a tax incentive to owners of affordable rental housing. The incentive is an annual tax credit -- a dollar-for-dollar reduction in federal taxes -- earned in the first 10 years after the units are placed in service if program requirements are met. Developers market, or “syndicate,” the credits allocated to a development to investors, whose contributions are used as equity in the development’s financing plan.

The credits are administered by PHFA and were approved by its board.