1 / 10

Bond Cap Overview

This overview provides information on units financed with bond cap in Washington State over the last 10 years, as well as policy changes and updates related to low-income housing, cost containment, amenities, energy efficiency, transit-oriented development, and non-profit requirements.

beus
Download Presentation

Bond Cap Overview

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 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. Thank you! Lisa Vatske Director, Multifamily Housing & Community Facilities Lisa.vatske@wshfc.org

More Related