Based on comments and input Washington State Housing Finance Commission received on the draft 2016 tax credit policy recommendations, it is modifying the following policies:

  • 20 Donation in Support of Local Housing Needs- Modified as follows:
    • Create a set amount for the donation based on Total Project Costs (“TPC”) as follows:
      • $0 – $12,500,000 (TPC) = $15,000 Donation
      • $12,500,001 and above (TPC) = $25,000 Donation
    • 8 Cost Containment Incentive-Modified as follows:
      • TDC Limit Point: One (1) TDC Limit Cost Containment Point will be awarded to a project that is below its appropriate TDC Limits at the time of application.
      • One (1) cost-containment point will be awarded to projects that are at or below the median cost per square foot in its TDC Limit Area for the allocation round in which it applies.

All of the proposed changes are scheduled to be presented to the Commissioners’ for approval at the Sept 24, 2015 Commission Meeting.  Any additional comments on the newly proposed modifications-please send to Rich Zwicker at Rich.Zwicker@wshfc.org and Bob Peterson at Bob.Peterson@wshfc.org.

Please also note that Pre-approvals and TDC Waivers will be due on Nov 6, 2015.