Developers' Council
The PA Developers’ Council is made up of the people at the heart of the most successful affordable rental
housing production program in our country’s history, the Low Income Housing Tax Credit (LIHTC).
PRODUCING HOMES, SUPPORTING FAMILIES
We are private sector producers of high quality apartments that connect government subsidy with private investment to make affordable homes a reality. For many low-wage workers, a home they can afford is the difference between homelessness and full participation in society. For children, it’s a chance for a brighter future. For seniors and people with disabilities, it is safety, security and dignity. Since 1986, the LIHTC nationally has produced 2.4 million apartments for low-income families. In PA, LIHTC developers have produced 65,000+ apartments; in 2010 alone, 69 developments totaling 2,500+ units, nearly half for seniors.
CREATING JOBS
We generate 122 jobs for every 100 units we produce, jobs that wouldn’t otherwise exist. Each year, nationally, the LIHTC generates 140,000 jobs. Since its inception in 1986, the LIHTC has contributed over $200 billion in wages for less than $75 billion in government funds. That’s return on investment. In PA in 2010, LIHTC developers created 3,104 construction and 763 permanent jobs.
GROWING THE ECONOMY
Nationally, the LIHTC has produced $6.8 billion in economic impact through the production of 75,000 to 100,000 affordable rental homes nationwide. In PA, we weigh in at $200M annually in economic impact.
WE CAN’T DO IT ALONE.
The mighty Low Income Housing Tax Credit was never intended to stand alone. It is a trigger for investment. Developers need capital, financing and support to continue to harness the economic, job creation and growth power of affordable rental development. That’s why we created the PA Developers’ Council.
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Developers' Council Leadership
Co-Chair Andy Haines Vice President, Affordable Housing, S&A Homes
Co-Chair Cheryl Stulpin Vice President of Development, Home Leasing
Founder Mark Dambly President, Pennrose Properties, LLC
Liaison to Housing Alliance Board of Directors Lisa Yaffe
