1. Director, Multifamily Housing & Community Facilities
Bond Cap Overview
Lisa Vatske,
Director, Multifamily Housing & Community Facilities
July 2019

2. Units Financed with Bond Cap – Last 10 Years
*2019 numbers are anticipated totals

3. Washington State’s Bond Cap Allocation Per Unit - Last 10 Years

4. 4% Point Categories by Project Scores

5. Side by side comparison of points taken and available

6. Low Income Housing Income Targets 2016-18

7. Bond/Tax Credit Policy Changes
Increase Cost Containment Points from 5 to 10
1 point per 2.5% under TDC Limits, up to 25% below the limits
Remove the following:
Points for Limiting Developer Fee, allow the economics of the deal to drive the budget and the developer fee. Eliminate point-chasing.
Project Innovation category
40% AMI option from Additional Low-Income Set-Asides
Add Opportunity Zone Investment (1 point)
NCSHA’s OZ Fund Directory has funds with approximately $28B of investment

8. Bond/Tax Credit Policy Updates
Update TDC Limits to mirror increases made in the 9% Program
Increase points for Extended Use Agreement to max of 15 points for 25 additional years (3 points per 5 years)
New Amenities Options:
Onsite Daycare Program
Lunch Program Coordination with Local School District
Electric Car Charger Installation
Supportive Services/Community Space with Service Coordinator
Clarify and Update requirements for: Bike Storage, Media Room, Business/Learning Center

9. Additional Policy Changes
Energy Points
Update Solar Options and remove Solar Thermal, move to kilowatt hours produced/square feet/year. Metric slightly higher than the option currently available for points in ESDS.
Changing Energy Efficient Building category options to match ESDS 5.2: Additional Reduction In Energy Use (max 5 points)
Transit-Oriented Development updates
Urban: 0.5 mile walking distance of transit service (1 point)
Rural: 0.5 mile walking distance of bus stop or 5-mile distance of transit options (2 points)
Light Rail Station or Park & Ride: 0.5 mile walking distance (3 points)
Defining criteria and assessing the deduction of the seller note from the TDC amount on acq/rehab projects.
Review requirements related to non-profit definition and points, including option to purchase language and other considerations on re-syndicates requesting regulatory changes.

10. Director, Multifamily Housing & Community Facilities
Thank you!
Lisa Vatske
Director, Multifamily Housing & Community Facilities