Bond/Tax Credit Program

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


Applications are now being accepted for projects that can close no later than May 2018. Projects applying must have their financing resolutions presented to the Commission no later than the April 2018 Commission meeting.

Download Application Materials >

Projects must have a minimum score of 40 points.

Application deadline is October 27, 2017.


Sustainability Resources for Multifamily Housing 10/05//28/2017

2017 Bond/Tax Credit Policy (PDF) 09/26/2017

Housing Bonds with 4% Tax Credit Application (Excel) 08/30/2017

Second Round Bond 2017 Allocation List (PDF) 08/03/2017

Portfolio Addendum to the Bond with 4% Tax Credit Application (Excel) 05/17/217 Must be completed per site for ALL portfolio applications.

First Round Bond 2017 Allocation List (PDF) 01/05/2017

2017 Bond Round Announcement (PDF) 09/09/2016

Questions? Please contact us at


Qualified Census Tracts and Difficult Development Areas (Effective July 1, 2016)

2016 Bond/Tax Credit Program Policies (PDF)

Multifamily Housing Bond Financing Policy (PDF)

Application Forms


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 2013 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 LIHTC Program or need assistance with the application, please call us at 206-464-7139 or 800-767-4663 in WA or email


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