The Washington State Housing Finance Commission has recently released a list of proposed changes to the bond and tax credit program. While a redlined document is still forthcoming, the summary document, intended for discussion purposes, outlines the changes, including:

  • Limiting amount to 50% of the Bond Cap to any one developer in a given round and for the year.
  • Maximizing use of recycled bond cap (to be discussed further).
  • Urban Project TDC Limit Increase – Adding DDA to the list consistent with 9% proposal.
  • Waiver of the Total Development Cost Limit – New Construction: Adding costs incurred due to ESDS and energy water conservation measures.
  • Consistency with Local Consolidated Plan: Added language to address circumstance in which a local jurisdiction does not cooperate

Several meetings have been planned to discuss these changes:

September 14, 2016: 10:30 a.m. – 12:30 p.m.
Spokane Public Library, Room 1A
906 W. Main Avenue
Spokane, WA 99201

September 29, 2016: 1:00 p.m. – 3:00 p.m.
Commission Training Room (28th Floor)
1000 2nd Avenue
Seattle, WA 98104
A log-on/call-in web based option will be available.

October 5, 2016: 3:00 p.m. – 3:45 p.m.
Housing Washington Conference
Greater Tacoma Convention & Trade Center (Room TBD)
Tacoma, WA 98402
 

Please send any comments or questions to AskUsMHCF@wshfc.org.