The MFTE program provides a tax exemption on new multifamily buildings in exchange for setting aside 20% of the homes as income- and rent-restricted. The MFTE program currently requires that 1 in 5 units be income-restricted. Mailing Address: Encore at Columbia Station has 2 shopping centers within 1.2 miles, which is about a 3-minute drive. Encore at Columbia Station has 5 parks within 3.1 miles, including Genesee Park and Playfield, Jefferson Park, and Bradner Gardens Park. For projects nearing the end of their 12-year MFTE program, a 12-year extension is available for application. Additional information about current income restrictions and about the MFTE program can be found on the City of Seattle's website here . To secure the longer exemption period, the property must meet a minimum affordable housing standard. An email will be sent several days before the webinar you have registered for with the link and other material. The MFTE Apartment rate you've been waiting for! Occupancy Specialist Qualifications Must possess a working knowledge of MFTE & other affordable programs Able to interpret and understand tenant file information As a result, these units will rent quickly, and often to those households that are bestinformed about the MFTE program. To qualify for benefit tax years 2023, 2022, 2021 & 2020 you will need to meet the following criteria: Age/Disability Born in 1961 or earlier (61 years of age by December 31st of the prior year of the benefit tax year) Disabled or a veteran with at least an 80% total disability rating Ownership/Occupancy All properties participating in the MFTE and Incentive Zoning programs must certify that applicants are income eligible for the program(s). 3 0 obj Commerce will use this work to answer frequently asked questions, support community planning, and support implementation and operating of MFTE programs throughout the state. The City of Seattles Office of Housing operates the Multi-Family Tax Exemption Program (MFTE), which provides a tax exemption to developers and owners of new multi-family buildings who set aside 20-25% of their units as income-and rent-restricted. 700 5th Ave, Suite 5700, Seattle, WA, 98104 The Multifamily Property Tax Exemption (MFTE) Program provides a tax exemptionon eligible multifamily housing in exchange for income- and rent-restricted units. These homes are available to low to moderate income households, with specific income requirements dependent on the size of the household and the number of . Household income for our MFTE units must be below the HUD Income Limits for Seattle as follows: For Studios - 65% Median Income. 1-3 Beds. Other monitoring concerns. MFTE & Affordable Housing Apartment Homes in Seattle Apply Today MFTE & Affordable Housing at Emerson Emerson is proud to offer a select number of income-qualified apartment homes through three different affordable housing programs, including MFTE, to make high-quality apartment living more attainable in the Seattle community. By supporting mixed-income residential development in the urban centers, the MFTE program ensures affordabilty as the community grows. Login. DMCA Agent | 8228 Green Lake Drive North Seattle, WA 98103. Skip to main content Toggle Navigation. UW employees receive priority access to rent-restricted MFTE units at Bridges @ 11th, an apartment complex located in the University District. If you qualify, your rental rates will be capped based upon your household income and the type of unit you rent. Office of the Governor Apply And Get Up To 6 Weeks Free! By supporting mixed-income residential development in the urban centers, the MFTE program ensures affordability as the Seattle community grows. Inquire, Apply, Get Up To 6 Weeks Free! email Brandon Thomas, general manager of Bridges @ 11, priority access rentals and affordable housing website, Financial Literacy Month events and resources, Exploring housing options for older adults, Creating community in the dead of night: Meet Eric Yerxa, 50/15/5: A Saving and Spending Rule of Thumb. 2021-23 creating a City Multifamily Property Tax Exemption (MFTE) program.. Depending on your propertys MFTE agreement, you may need to re-qualify every year or only if you change MFTE units. To qualify for the Low Income Housing Program, a household's income must not exceed 80 percent of Area Median Income (AMI) Households with income that does not exceed 30 percent of AMI will receive priority on the waitlist. In Snohomish County, MFTE programs are allowedin cities with a minimum population of 5,000. In order to qualify for MFTE homes at STAZIONE25, household income must be below 65% of the area median income for Studios, below 75 . Address: Questions regarding Affirmative Marketing requirements should be directed to Joy Hunt (joy.hunt2@seattle.gov) at 206-684-0262. A retail sale is the sale of tangible personal property. 75% AMI 2-bedroom. MFTE programs serve to encourage a greater diversity of housing types, including rehabilitating existing housing and redeveloping vacant and underutilized properties. The income levels listed below are current as of April 2022. To establish an MFTE program, cities must establishMFTE target areas thatcontain urban centers, defined under statelaw as: a compact identifiable district where urban residents may obtain a variety of products and services. After completing Thrive's standard application and screening process, the leasing team will need to certify that your household income is eligible for the program associated with the home you've selected. Please contact our Leasing Office to learn more about income qualifications, application process and apartment availability. Download the Initial Application to the MFTE Program below. Building Infrastructure Click here for Screening Criteria. 694 defines Shoreline's current MFTE program and replaces all previous MFTE programs. The 12 year period begins the first full calendar year after the project is completed. Household income for our MFTE units must be below the HUD Income Limits for Seattle as follows: For Studios - 65% Median Income. Once a households income rises to this point, they may stay in their unit, but their rent will rise to market level and the next available comparable unit reserved for an income qualified tenant. MFTE and Incentive Zoning Compliance The Seattle Office of Housing monitors multifamily properties with commitments through the Multifamily Tax Exemption (MFTE), Mandatory Housing Affordability (MHA) and Incentive Zoning (IZ or Housing Bonus) programs. PO Box 94725, Seattle, WA , 98124-4725 Media Center Homeless AssistanceForeclosure HelpMobile Home Parks ClosingOffice of Homeless YouthPlanning for Housing, Affordable Housing Funding SourcesInfill DevelopmentTechniques and Incentives for Encouraging Affordable HousingTypes of Affordable Housing, Mary M. Reinbold (she/her) AICPSenior Plannermary.reinbold@commerce.wa.gov(509) 638-5449, Bremerton (external link)Everett (external link)Lakewood (external link)Lakewood video (external link)Seattle (external link)Shoreline (external link)Spokane (external link)Tacoma (external link)Vancouver (external link)Wenatchee (external link), Bellingham-BMC 17.82 (external link)Burien-BMC 19.45 (external link)Camas-CMC 3.86 (external link)Edmonds-EMC 3.38 (external link)Kenmore-KMC 3.65 (external link)Kirkland-KM 5.88 (external link)Lake Stevens-LSMC 3.27 (external link)Lakewood-LMC 3.64 (external link)Lynnwood-LMC 3.82 (external link)Olympia-OMC 5.86 (external link)Port Orchard-POMC 3.48 (external link)Seattle-SMC 5.72 (external link)Shoreline-SMC 3.27 (external link)Snohomish-SMC 3.50 (external link)Snoqualmie-SMC 3.10 (external link)Spokane-SMC 8.15 (external link)Tacoma-TMC 6A.110 (external link)Vancouver-VMC 3.22 (external link)Walla Walla-WMC 2.28 (external link)Wenatchee-WMC 5.88 (external link)Woodinville-WMC 3.43 (external link), Issaquah 2020 Target Area Designation (PDF), Ferndale 2021 Update to Extend MFTE Program (PDF), Renton 2021 Update to Add 20 Year and Extend Program (PDF), Seattle 2021 Update to Add 20 Year and Update Program (PDF), Equity Index Resolution No. The MFTE, amended and renewed last October, provides a property tax exemption . ONE MONTH FREE RENT! Seattle HUD Rental Assistance Income Qualifications Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Seattle but actual income limits may differ for units at AVA Queen Anne. Email: Housing@seattle.gov, Sign up for the latest updates from Housing. In 2021, significant changes were made to the program, find a summary at this link. Renters: This page is intended for property managers of buildings participating in the MFTE, MHA and IZprograms. Now is a good time to look for new rental opportunities because many landlords are offering incentives. Property managers must ensure that all participating units meet affordability restrictions, determine income eligibility of all resident households, and calculate rents in accordance with program requirements. Seattle (July 24, 2019) - Mayor Jenny A. Durkan transmitted legislation to City Council today to renew and improve the Multifamily Tax Exemption (MFTE) Program.The MFTE program provides affordable rent, typically hundreds of dollars lower than market rate, to nearly 4,500 low- and middle-income households in private apartment buildings in neighborhoods across Seattle. By clicking on the links below, one can view maps that determine whether one's parcel falls within a MFTE area. To access the information, click on the link to the recording. [CDATA[*/ (function() { var sz = document.createElement('script'); sz.type = 'text/javascript'; sz.async = true; sz.src = '//siteimproveanalytics.com/js/siteanalyze_460.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(sz, s); })(); /*]]>*/, 2023 Washington State Department of Commerce. Its intention is to help prospective MFTE tenants map the spreadsheet of properties provided by the City. Retail Sales and Use Tax. % The program is only available for investors who build or rehabilitate four or more units to rent. Yes and No. For 1 Bedroom - 75% Median Income. Once a Conditional Certificate is issued, the applicant must complete the project within three years; one two-year administrative extension is available. Privacy Policy Youll need to contact properties and ask about their current availability. Applicants must apply for a Conditional Certificate of MFTE prior to receiving building permits. State law sets specific standards as to what can qualify as a target area, detailed below. Multi-Family Housing Property Tax Exemption Program, Governor's Smart Communities Awards Program, Submitting Materials to the State for Review, Community Economic Revitalization Board (CERB), Techniques and Incentives for Encouraging Affordable Housing, Equity Index Council Action Memorandum (PDF), Implementing 2021 changes to the MFTE program (PDF), Implementing TOD and Commercial element to the MFTE program (PDF), Application Process Overview for Program (PDF), Initial Considerations MFTE Workbook (PDF), Program Development MFTE Workbook (PDF), Administering the Program MFTE Workbook (PDF), Monitoring the Program MFTE Workbook (PDF), Reviewing and Updating the Program MFTE Workbook (PDF), Writing the Ordinance MFTE Workbook (PDF), Appendix A (Model Code) MFTE Workbook (PDF), Appendix B (Sample Forms) MFTE Workbook (Word), MFTE Study and Guidance Initial Interview Guide (PDF), MFTE Study and Guidance Project Engagement Strategy (PDF), MFTE Study and Guidance Project Workplan (PDF), MFTE Stakeholder Webinar Slides (Power Point). Dog & Cat Friendly Fitness Center Dishwasher Refrigerator Kitchen In Unit Washer & Dryer Walk-In Closets Clubhouse Balcony. Capitol Hill: "It's one of the quirkiest, hippest and most happening neighborhoods in Seattle, chock full of some of the best restaurants, cafes, breweries, and bars in the city". The program authorizes 8, 12 and 20-year property tax exemptions to encourage the development of multifamily housing. By supporting mixed-income residential development in the urban centers, the MFTE program ensures affordabilty as the community grows. There is a select number of homes in this property that are part of this program. Encourage more mMultifamily hHousing opportunities within the cCity; 2. The mission of the Office of Housing (OH) is to create strong, healthy communities, prevent displacement and increase opportunities for people of all income levels to live in Seattle. Multifamily Property Tax Exemption (MFTE) Program, Share & Bookmark, Press Enter to show all options, press Tab go to next option, Community Court and Community Resource Center, Property Tax Relief for Seniors and People with Disabilities, Equity and Social Justice Community Consultants, Parks, Recreation, & Cultural Services/Tree Board, City Council Remote Public Comment Sign-In, Building and Development Permit Extension, Affordable Housing Opportunities Brochure, Multifamily Property Tax Exemption Agreement Boilerplate, Conditional Certificate of Multifamily Property Tax Exemption Application, Extension of Conditional Certificate of Multifamily Property Tax Exemption Application, Final Certificate of Multifamily Property Tax Exemption Application. endobj Phone: (206) 684-0721 This website is unaffiliated with the City of Seattle. Where it Works Washington State Legal Context. Careful research should be done to establish an appropriateincome progression cap where market rents become accessible. Property managersmust: Refer to Compliance Manual and Compliance Reference above for more detail on income certification procedures.

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