Bond/Tax Credit Program

Multifamily Housing Bonds with 4% Low Income Housing Tax Credit provide access to bond and tax credit financing for affordable housing developers.


New! 2020 Bond/Tax Credit Policy Changes (PDF) | 2020 Bond/Tax Credit Policy Marked Changes (PDF) 08/21/2019

UPDATED Multifamily Housing Bonds with 4% Tax Credit Application (Excel) 04/10/2019

 NEW! Bond Round Announcement (PDF) 01/17/2019

 2019 Application and Policies 10/08/2018

Updated 2nd Round Bond Allocation List - Final 05/31/2019

2018 Application and Policies 01/29/2018

Sustainability Resources for Multifamily Housing10/05/2017

Questions? Please contact us at askusmhcf@wshfc.orgTo be placed on our notification list, please send your name, organization, and email address to with the Subject Line, "Notification List".


If more than 50% of a project is financed with tax-exempt Multifamily Bonds, the project may access the 4% Low Income Housing Tax Credit (LIHTC) without competing for an allocation of the 4% Tax Credit. However, during years when anticipated demand for Multifamily Bonds is expected to exceed availability, there will be competition for the bonds through an announced Bond Round. If such a Round is in effect. It will be noted on this page. Using bonds with tax credits allows developers to combine low interest rates on long term debt with a substantial equity contribution from an allocation of LIHTC. While LIHTC cannot be used with 501(c)(3) bonds, nonprofit developers can access LIHTC by forming a partnership with a for-profit tax credit investor and applying for Multifamily Bonds.

Information for bond lenders

What your lender will want to know (PDF)

Report on LIHTC Allocation and Activity in Washington State (PDF)

APPLICATION SCHEDULE: Projects Financed with Commission-Issued Bonds

Official Intent Declaration: In order for a developer to be reimbursed for expenses with bond proceeds, the Commission must issue a Official Intent Declaration (OID) to reimburse expenditures. The date the OID is signed by the Commission marks the period (60 days prior to the OID date) from which eligible costs may be reimbursed from the proceeds of tax-exempt bonds. If an applicant needs an OID prior to the submission of an application, the applicant should submit an OID Request Form (Excel) as soon as the sponsor intends to seek financing with Commission-issued bonds.

APPLICATION SCHEDULE: Projects Financed with Bond Issuer Other than the Commission

Applications for Bond/Tax Credit Program projects where the Commission is not the issuer of the bonds should be submitted 60 days prior to the date the 42(m) letter is needed.


If you have questions about the Bond/Tax Credit Program or need assistance with the application, please call us at 206-464-7139 or 800-767-4663 in WA or email


Home | About | CareersCommissioners | Contact UsEventsMy View Newsletter | Publications | Homeownership: Homebuyer Programs | Information for Lenders | Information for Real Estate Professionals | Information for Instructors | Multifamily Housing: 9% Housing Credit | Bond/Tax Credit | 80/20 Bonds | 501(c)(3) Housing BondsSpecial Programs: Energy | Farmer/Rancher | Nonprofit FacilitiesLand Acquisition Program | Property Managers: Asset Management and Compliance Information for Investors: Official Statements, Annual Reports, Interim Information |  Privacy Notice | Requests for Public Records
Washington State Housing Finance Commission 
1000 2nd Avenue, Suite 2700, Seattle, Washington 98104 | Phone: 206-464-7139 or 800-767-4663 | Fax: 206-587-5113 | Contact Us
©1998-2018 All Rights Reserved