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BOND/TAX CREDIT PROGRAM
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Bond/Tax Credit Program

Multifamily Tax-Exempt Bonds and 4% Housing Tax Credits help create affordable rental housing for working families, seniors, and people with special needs.

NEWS AND HIGHLIGHTS

CALL TO ACTION! The Senate included two key affordable housing provisions in the Tax Relief for American Families and Workers Act of 2024. These provisions include reinstating the 12.5% increase for the 9% allocation to states for 3 years and the lowering of the 50% test to 30% on bonds to access the 4% credit for 2 years. Please consider reaching out to your federal House Representative and urge them to pass this critical legislation.

New! 2024 Balance of State Bond Cap Allocation List 4/15/24

2024 King County Invitation to Apply List 1/23/24

There's a new Allocation Framework in King County – Info session 12/18/23

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OVERVIEW OF THE PROGRAM

The Commission allocates multifamily tax-exempt volume cap bonds (“Bond Cap”) and the non-competitive, 4% housing tax credits statewide for developers of affordable multifamily housing. Bond Cap is awarded to selected multifamily housing developers through a competitive application process. Developers work with the Commission directly for both the bond issuance and related 4% tax credits. The Commission also partners with the Association of Washington Housing Authorities (AWHA) to develop a shared pipeline and program thresholds, resulting in the timely allocation of available cap to public housing authority projects also seeking 4% tax credits.

2024 GENERAL PROGRAM DOCUMENTS

2024 Bond/Tax Credit Program Policies

Program Contacts & Application Instructions

King County Allocation Framework

Total Development Cost (TDC) Limit Schedule

APPLY FOR FINANCING

Find your application type to learn when and how to apply. View the program application instructions and visit the Bond/Tax Credit program application page to download program application materials. Application materials must be submitted in the Multifamily Developer Portal.

Seattle/King County projects are awarded bonds with tax credits in coordination with other local funding agencies using a tiered, pre-allocation system.

Balance of State (all counties except King) projects are awarded bonds with tax credits once a year through a competitive application process.

Public housing authority (PHA) projects anticipated to be financed with bond cap through the Association of Washington Housing Authorities (AWHA) pipeline process should submit their tax credit application 60 days prior to anticipated closing.

CONTACT US

Call us at 206-464-7139 or 800-767-4663 in WA or email AskUsMHCF@wshfc.org.