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.


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

New! Application deadline extended to Wed, Feb 14 for Balance of State Applicants after proposed tax bill. If you have any questions on how this updated deadline may affect your application, please contact Jason Hennigan. 1/23/24

View the Balance of State Applications Intents to Apply list here. 12/20/23

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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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.


Call us at 206-464-7139 or 800-767-4663 in WA or email


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