BOND/TAX CREDIT PROGRAM
• Overview
• Bond Allocation Lists
• Application Materials
• Public Housing & Development Authority Application Materials
• Placed-In-Service
• Policy Updates
• Evergreen Sustainable Development Standard
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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.
NEWS AND HIGHLIGHTS
New! 2022 Bond/Tax Credit Allocations Announced
In 2021, the Commission embarked on an entirely new set of policies and scoring criteria for the increasingly competitive bond/tax credit program. While demand remains twice as high as the available funding, the new policies brought many positive outcomes.
Download the allocations in table form (two tabs: Allocations by List and Allocations by Points)
Read the narrative explaining the results
Review the application materials from this competition
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Multifamily Developer Portal (login page)
OVERVIEW OF THE PROGRAM
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.
QUESTIONS
Call us at 206-464-7139 or 800-767-4663 in WA or email AskUsMHCF@wshfc.org.