2010 Bond Cap Monthly Application Round

Bond Volume Issuance Authority (“Bond Cap”)

Conditions of the Monthly Application Round

• The Commission is now accepting applications on a monthly basis for projects that plan to close their financing after December 31, 2009 and will continue to accept Bond Cap applications each month during 2010, until September 10, 2010 or further notice.
   

• The monthly application deadline will be the second Friday of each month at 3 p.m. Applications may be submitted at anytime up until the deadline. The following is a list of deadline dates:
   
  November 13, 2009
  December 11, 2009
  January 8, 2010
  February 12, 2010
  March 12, 2010
  April 9, 2010
  May 14, 2010
  June 11, 2010
  July 9, 2010
  August 13, 2010
  September 10, 2010
   

• Applications received after the deadline will be considered for the NEXT monthly round.
   

• Capital Projects division staff will review applications to determine if the project meets the readiness and scoring criteria. Projects will be competitively ranked among each month’s applications only.
   

• Projects that do not meet the minimum score or criteria will be notified within two weeks and advised to resubmit. The application fee will be retained. A new application fee will not be required for re-submittals within the current calendar year. If all future application rounds are closed, the application fee for a previously rejected project will not be returned.
   

• Projects receiving Bond Cap will be notified within two weeks of the application cutoff date.
   

• A deposit equal to 1% of the requested bond amount, to a maximum of $150,000, will be due within 10 calendar days from the allocation notification date to reserve the allocation. Failure to pay the fee will result in a withdrawal of the Bond Cap allocation reservation.
   

• If an application that reserved a Bond Cap allocation withdraws or fails to close, the Commission will reserve the right to retain its 25 basis point issuance fee in addition to any costs incurred.
   

• Application timelines must show evidence that project development can meet the following “final” deadline dates:
   
  September 15, 2010 Tax Credit App. Submittal Deadline
  October 13, 2010 Scoping Meeting Deadline
  October 28, 2010 Public Hearing Deadline
  November 18, 2010 Finance Resolution Deadline
  December 15, 2010 Close and Fund Deadline

The application can be downloaded here:

• Multifamily Housing Application (Word)
• Multifamily Housing Evaluation Policy (PDF)

Evergreen Sustainable Development Standard Documents:

• Evergreen Sustainable Development Standard Criteria
• Evergreen Checklist WSHFC (Excel)
• Evergreen Owner Certification (Word)

If you cannot download the application, please contact Viet Tran at (206) 287-4482. You may also visit our offices at 1000 2nd Ave, Suite 2700, Seattle, WA, or you may email Viet at viet.tran@wshfc.org.

If you have any questions about this round, please contact David Clifton at (206) 287-4407.

This page was modified on 10/23/2009.