BOND/TAX CREDIT PROGRAM
• Bond Allocation Lists
• Application Materials
• Developer Portal Resources
• Placed-In-Service
• Policy Updates
• Evergreen Sustainable Development Standard
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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.
NEWS AND HIGHLIGHTS
New! 2024 Balance of State Bond Cap Allocation List 4/15/24
CALL TO ACTION! (Updated 1/23/24) The Senate this week 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! View the 2024 King County Invitation to Apply List here. 1/23/24
There's a new King County Allocation Framework. (Recording of the info session here.) 12/18/23
We held an Application Workshop for Balance of State applicants only. (Recording of the discussion here.) Password is: "password" 11/30/23
Visit the Multifamily Developer Portal Resources Page
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OVERVIEW OF THE PROGRAM
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.
QUESTIONS
Call us at 206-464-7139 or 800-767-4663 in WA or email AskUsMHCF@wshfc.org.