State Senator Michele Brooks | Pennsylvania
State Senator Michele Brooks | Pennsylvania
More than $1.4 million in housing tax credits have been awarded for a project in New Castle, according to Sen. Michele Brooks (R-50).
“This project will provide quality and affordable housing options for local residents,” Brooks said. “Many families are struggling to find housing options to ensure they can make ends meet. The LG Lofts project in New Castle will ensure that community residents who qualify will have much-needed options for housing now and in the future.”
LG Lofts, located at 301 E. Long Ave., New Castle, will benefit from more than $1.4 million in low-income housing tax credits to construct a three-story building with 40 housing units. When completed, LG Lofts will have nine one-bedroom, 16 two-bedroom, and 15 three-bedroom units. The lofts will offer tenant storage and off-street parking. Units will be available to anyone whose income is below 60% of the area median income.
The low-income housing tax credits were approved by the Pennsylvania Housing Finance Agency (PHFA), a state-affiliated agency created by the Legislature in 1972.
PHFA programs and operations are funded primarily by the sale of securities and from fees paid by program users, not by public tax dollars. The agency is governed by a 14-member board.
CONTACT: Adam Gingrich, 717-787-1322
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