Washington State Housing Finance Commission has released proposed changes to Bond and Tax Credit policies. The following is a summary of some significant changes:

  • Expanding Bond Cap Limits: No more than 50% of the Bond Cap may be allocated to any one developer in a given round and for the year (previously, this 50% limit only applied to one project or a group a projects on contiguous properties).
  • Rehab/Re-syndication Projects Waiver language, however, “please note: The Commission is not likely to grant a TDC waiver when the acquisition price is the primary reason for the waiver request.”
  • Maximize the use of recycled bond cap.
  • Add DDA to list of projects eligible for Total Development Cost increase.
  • Waiver of Total Development Cost limit considered for new construction costs resulting in energy or water savings beyond local building code or Evergreen Sustainable Development Standard
  • Various scoring changes including decreased points for brownfields and newly created points for solar, project innovation, and re-syndication projects

A blacklined version of the changes as well as other resources, are also available.