Budget advisors generally recommend keeping housing costs at 30% of your households income or less. 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). Seattle's enrollment policy is not based solely on geography. ONE MONTH FREE RENT! Affordable unit rents should be below market, but not so low that tax exemption is not a sufficient incentive. Crew Apartments. Shoreline, WA 98133-4905 1 0 obj The jurisdiction will have to weigh these arguments with their individual priorities. $50,780. Please contact the Leasing Office for any specific questions. General Requirements To qualify for subsidized housing, you must be one of the following: A family with children under age 18. By clicking on the links below, one can view maps that determine whether one's parcel falls within a MFTE area. 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. You must make application for housing at either the agency or property. The Seattle City Council adopted MFTE in 1998 and reauthorized the program, with amendments, five times since then. 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. Visit the priority access rentals and affordable housing website for more information and subscribe to the UW Insider for updates about affordable housing resources. New things can arise all the time, and will require nimble, well-informed staff one recent development is the rise of AirBnb and other new types of home rental services. All properties participating in the MFTE and Incentive Zoning programs must certify that applicants are income eligible for the program(s). Building Infrastructure For more information on the MFTE program please click here to visit the Seattle Office of Housing. To secure the longer exemption period, the property must meet a minimum affordable housing standard. Stimulate the construction of new mMultifamily hHousing; 3. In this case, the property manager may have no idea this is happening, and it may be a good idea for city staff to monitor these kinds of sites for MFTE properties. 2022 Income and Rent Limits 2022 Income Limts - Weatherization and Home Repair Programs A retail sale is the sale of tangible personal property. UW employees receive priority access to rent-restricted MFTE units at Bridges @ 11th, an apartment complex located in the University District. 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. 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. Address: For projects with a covenant for 99-year affordability, a new 20-year MFTE program is available. 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. $1,450 1br - 611ft2 - (South Seattle, Beacon Hill, Martin Luther King Way) $2,195. (206) 801 - 2700, Website Design by Granicus - Connecting People and Government. Do You Qualify For MFTE? There are no income limits for our Market Rent Units. There is a select number of homes in this property that are part of this program. Kerry Feeman 2023 AHA. Up to two properties from Seattle Senior Housing Program, if eligible (please note: Applicants age 62 or older are not limited to these properties and may apply for properties in any program) Do not use this application to apply for Special Portfolio . Amenities. MFTE. For each restricted unit, the maximum allowable income (by household size) and housing cost (by unit size) aligns with the affordability level set by covenant or other regulatory agreement. In October of 2021, Ordinance No. 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. Please refer to the following documents for more information on affirmative marketing and how to comply with these requirements. After completing the project, the applicant must apply for a Final Certificate of MFTE; once received, the actual exemption period begins on the next full calendar year. 34,885 new units of housing were created, 21% of which were designated as affordable. Several issues to consider include: Appropriate targeted income level and income recertification. Income Guidelines . Property managersmust: Refer to Compliance Manual and Compliance Reference above for more detail on income certification procedures. We gladly accept Housing Choice vouchers for all units. In 2021, significant changes were made to the program, find a summary at this link. Trainings will be live webinars. The latest version of forms accepted by the program will be found below. The Sales and Use Tax is Washington's principal revenue source. Contact us|Sign up for our newsletter Property management education. Managing housing costs is one way to stay financially fit. 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. Fax: (206) 233-7117 <> Property Tax Exemption (MFTE) Program. Yes and No. Questions regarding Affirmative Marketing requirements should be directed to Joy Hunt (joy.hunt2@seattle.gov) at 206-684-0262. The Occupancy Specialist has the overall responsibility of processing MFTE files adhering to Office of Housing . Dog & Cat Friendly Fitness Center Dishwasher Refrigerator Kitchen In Unit Washer & Dryer Walk-In Closets Clubhouse Balcony. The Multifamily Property Tax Exemption (MFTE) Program provides a tax exemption on eligible multifamily housing in exchange for income- and rent-restricted units. endobj Have no more than 10 people. MFTE gives landlords tax incentives if they commit to charging below-market rents to some units in their building. Apply And Get Up To 6 Weeks Free! $2,224 - 6,330. MFTE program guidelines and forms for initial and on-going compliance and annual reporting can be found by clicking the links below: Certification of Household Eligibility Annual Project Certification Details for Income-Restricted Units Rent and income limits MFTE Compliance Manual Self-employment Verification Employment Verification . Once complete, the property will certify the income of the household to determine program eligibility. [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. To qualify for these programs, households must fall within certain income limits, which vary based on the size of your household and number of bedrooms. 60% AMI 1-bedroom. Studio and 1 bedroom units must be affordable to those earning 70% of the King County AMI; and. This property participates in the City of Seattle Multifamily Property Tax Exemption (MFTE) Program. These homes are open to all prospective residents that meet the propertys rental screening criteria and are determined to be income eligible for the MFTE program. State law sets specific standards as to what can qualify as a target area, detailed below. MFTE Seattle is intended to help people find safe and comfortable rent-reduced housing. MFTE programs serve to encourage a greater diversity of housing types, including rehabilitating existing housing and redeveloping vacant and underutilized properties. If your preferred property does not have MFTE units available, ask if they have an MFTE wait pool or contact list. 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. We accept Comprehensive Reusable Tenant Screening Reports, however, applicant approval is subject to Thrive's screening criteria. The MFTE, amended and renewed last October, provides a property tax exemption . See the Renter's Guide for more detail. Sora Apartments - MFTE. Rainier Valley Affordable Homeownership Initiative, resources on their rights and responsibilities here, Special Outreach for Affirmative Marketing, Community-based Organizations for Affirmative Marketing, MFTE Distribution, Comparability and Bedroom Criteria, MFTE Director's Rule - MFTE Unit Distribution in Towers, 700 5th Ave, Suite 5700, Seattle, WA, 98104, Incentive zoning compliance for property managers, Read Seattle laws for renters and landlords. Occupancy Specialist Qualifications: Must possess a working knowledge of MFTE & other affordable programs Able to interpret and understand tenant file information Proficient in Microsoft Office applications, including Excel, Word and Outlook Demonstrates strong judgement and critical thinking skills Seattles Office of Housing website includes full details about the program, including answers to frequently asked questions about MFTE, but the team at Bridges @ 11th shared some MFTE highlights to help you determine if the program may be right for you and walk you through the typical MFTE process. Fax: (206) 233-7117 Phone: (206) 684-0721 4 0 obj This property participates in the City of Seattle Multifamily Property Tax Exemption (MFTE) Program. Designed by a local architect with roots in Capitol Hill, Yardhouse is a thoughtfully designed building that mixes natural elements and modern architecture. City of Seattle MFTE homepage Spreadsheet of properties View Buildings Ineligible applicants may not rent the income restricted unit. Opens in a new tab. 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. Other monitoring concerns. Make independent decisions for the building within bounds of responsibility as deemed acceptable by management. It would also add new . Employee Resources, Serving Communities 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. mars 1. 944 took effect, which introduced several new updates to Shoreline's MFTE programs. MFTE Program Available! The miles and minutes will be for the farthest away property. Disclosures & Licenses | 2021-23 creating a City Multifamily Property Tax Exemption (MFTE) program.. Visit the citys website to compare your household income with the current MFTE income and rent limits. $2,085 2br - 892ft2 - (Seattle) $1,302 mar 2 South Facing MFTE Studio! (Page last updated 6/12/2019). All cities and Clark, King, Kitsap, Pierce, and Snohomish counties may now offer an MFTE program. DMCA Agent | PROGRAM 2 PROGRAM 3 PROGRAM 4 PROGRAM 5 PROGRAM 6 Ordinance 119237 Additional information about current income restrictions and about the MFTE program can be found on the City of Seattle's website here . CONNECT WITH US. By supporting mixed-income residential development in the urban centers, the MFTE program ensures affordability as the community grows. To apply for a Conditional or Final Certificate of Property Tax Exemption, please use the following forms: Please enable JavaScript in your browser for a better user experience. % If the cosigner does not meet any one (1) of the criteria, the cosigner will not qualify. Affordability Midtown Square is proud to offer 30% of all homes (130 total) as affordable housing units through Seattle's Multifamily Tax Exemption (MFTE) and Mandatory Housing Affordability (MHA) programs to make high-quality apartment living more attainable in the Seattle community. 2021-2023 MFTE Program Work Plan 75% AMI 2-bedroom. Created for free using WordPress and, Stimulate Construction and Rehabilitation through Tax Abatements. Prospective residents will complete the propertys standard rental screening process. Businesses making retail sales in Washington collect sales tax from their customer. 5 or more years of experience working in the Low Income Housing Tax Credit (LIHTC) program, particularly in Washington or Hawaii; Tax Credit Specialist, CP3, or HCCP designation; Certified Occupancy Speciialist (COS) or comparable designation; Working knowledge of local programs such as the City of Seattle's MFTE program; These rent-restricted units are available only to tenants who earn less than a certain percentage of the areas median income. True to MFTE's original goal of channeling growth back in urban areas, nearly half of developments receiving MFTE were created in Seattle alone, amounting to 17,432 . The purposes of this chapter are to: 1. Projects that have already applied for the 12-year program are eligible for a no-fee application to the 20-year program. 1-3 Beds. On November 9, City Council approved Ordinance No. Be advised: The Office of Housing must receive a complete Final Certificate Application no more than 30 days from the date of temporary certificate of occupancy, or the permanent certificate of occupancy if no TCO is issued. Doug Trumm. I successfully included another important amendment to increase the number of setaside units. The Multi-Family Housing Property Tax Exemption (MFTE) program began in 1995, codified as RCW 84.14, to incentivize residential development in urban centers, designated as residential targeted areas, for Washingtons largest cities. Email: Housing@seattle.gov, Sign up for the latest updates from Housing. Cats Welcome. Cosigner Rental Criteria: A Cosigner will be approved if allthe below qualifications are met. An email will be sent several days before the webinar you have registered for with the link and other material. 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. The Washington Department of Commerce was charged by the Washington State Legislature (through SB 5287 and a budget proviso) to develop guidance, complete a study, evaluate the impact of MFTE programs on cities and develop an MFTE auditing program. Between 2007 and 2018, 424 developments throughout Washington State received MFTE exemption. If you have any questions please contact OFH_MFTE@seattle.gov, Use this link to download an Overview of the MFTE Application Process for Program 6 projects. If you qualify, your rental rates will be capped based upon your household income and the type of unit you rent. 700 Fifth Avenue, Suite 5700 | PO Box 94725 | Seattle, WA 98124-4725 | 206-684-0721 | housing@seattle.gov | seattle.gov/housing Renter's Guide to the City of Seattle's Multifamily Tax Exemption Incentive Zoning and Mandatory Housing Affordability Programs .