Penny Indictor focuses her practice on various aspects of federal income taxation, including partnership taxation, real estate taxation, and transactions involving Low-Income Housing, Historic, and New Markets tax credits. Penny’s experience includes structuring, negotiating, documenting and closing tax credit transactions and other complex equity investments.

Areas of Concentration
  • Affordable housing
  • Federal income taxation
  • Tax credit transactions (Low-Income Housing, Historic, New Markets)
  • Complex equity investments
  • Partnership and real estate taxation
Professional and Community Involvement
  • Member, American Bar Association, Taxation Section
  • Member, ABA Forum on Affordable Housing and Community Development Law (Member, Governing Committee; Chair, Webinar Committee)
  • Member, Philadelphia Bar Association, Taxation Section
  • Member, Women in Housing & Finance in Pennsylvania (Member, Steering Committee; Chair, Events Committee)
  • Member, Pennsylvania Developers’ Council (Member, Board of Directors)
Other Experience
  • Certified Public Accountant, KPMG
Speaking Engagements and Publications
  • Speaker, American Bar Association Forum on Affordable Housing and Community Development Law 2023 Fall Boot Camp “Combining LIHTC’s With Other Tax Credits (HTCs, NMTCs, Energy Credits State Tax Credits)”, New Orleans, LA October 6, 2023
  • Speaker, Supportive Housing Association of New Jersey Conference “Joint Ventures and Partnerships – Joining Forces to Create Supportive Housing”, Somerset, NJ Nov. 4, 2022
  • Speaker, McKonly & Asbury Affordable Housing Seminar “Year 15 Issues – Investor Exits”, Harrisburg, PA June 16, 2022
  • Speaker, Corporation for Supportive Housing Webinar Series “Creating Supportive Housing in PA – Advanced Joint Ventures”, November 16, 2021
  • Speaker, Pennsylvania Developer’s Council Membership Meeting “Year 15 Issues – Investor Exits”, August 18, 2021
  • Speaker, American Bar Association Forum on Affordable Housing and Community Development Law Annual Conference “A Virtual Conversation about Real Life Topical Tax Twisters”, May 20, 2021
  • Speaker, Housing Alliance of Pennsylvania Homes Within Reach Conference “Developer and Investor Perspectives on the Low Income Housing Tax Credit”, Harrisburg, PA October 29, 2018
  • Speaker, American Bar Association Forum on Affordable Housing and Community Development Law Annual Conference “Twinning 9% / 4% Hybrids”, Washington, D.C. May 24, 2018
  • Speaker, Housing Alliance of Pennsylvania Homes Within Reach Conference “Federal and State Historic Tax Credit Update”, Harrisburg, PA December 5, 2017
  • Speaker, Housing Alliance of Pennsylvania Homes Within Reach Conference “Developer and Investor Perspectives on the Low Income Housing Tax Credit”, Harrisburg, PA November 17, 2014
  • Speaker, Housing Alliance of Pennsylvania Homes Within Reach Conference “Preserving Aging Affordable Housing with 4% Tax Credit Financing”, Harrisburg, PA, November 12 , 2013
  • Speaker, American Bar Association Forum on Affordable Housing and Community Development Law Annual Conference “Low-Income Housing Tax Credit Basics”, Washington, DC, May 23, 2013
  • Author, “The Historic Tax Credit—Issues for Lenders, Developers, and Investors”, Journal of Taxation and Regulation of Financial Institutions, Volume 26, Number 04, March/April 2013
  • Speaker, Housing Alliance of Pennsylvania Homes Within Reach Conference “Exploring the New Pennsylvania Historic Preservation Tax Credit”, Harrisburg, PA, December 4, 2012
  • Speaker, Strafford Publications Teleconference “Historic Tax Credits: Federal Tax Issues for Investors and Developers”, November 27, 2012
  • Speaker, American Bar Association Forum on Affordable Housing and Community Development Law Annual Conference “Low-Income Housing Tax Credit Compliance Issues”, Washington, DC, May 24, 2012
  • Speaker, Philadelphia Bar Association Tax Section Annual CLE Meeting “Financing with New Markets, Historic Rehabilitation and Renewable Energy Tax Credits”, Philadelphia, PA, December 8, 2010
  • Speaker, Lorman Teleconference “Federal Tax Incentives for Historic Preservation”, June 16, 2010
  • Speaker, American Bar Association Forum on Affordable Housing and Community Development Law  Annual Conference “Making Sense of the Tax Provisions of Partnership Agreements”, Washington, DC, May 27, 2010
  • Speaker, Lorman Teleconference “Exit Strategies for Section 42 Low-Income Housing Properties”, February 11, 2010 and November 24, 2008
  • Speaker, Housing Alliance of Pennsylvania Homes Within Reach Conference “Historic Rehabilitation Tax Credits: Overview of Legal Concepts” Harrisburg, PA, November 28, 2006
Education
  • J.D., summa cum laude, Villanova University School of Law, 1994
  • Managing Editor of Production, Villanova Law Review
  • B.S., summa cum laude, Accounting, University of Delaware, 1989