Contact us|Sign up for our newsletter You will need to provide a Resident Eligibility Application (REA) to each MFTE property where you apply, and landlords will verify your income at the time they offer you an MFTE unit. Its intention is to help prospective MFTE tenants map the spreadsheet of properties provided by the City. The Multi-Family Tax Exemption program, known as MFTE, is part of the City of Seattles efforts to make available more affordable rental options. Once complete, the property will certify the income of the household to determine program eligibility. PROGRAM 2 PROGRAM 3 PROGRAM 4 PROGRAM 5 PROGRAM 6 Ordinance 119237 VIVID Roosevelt is required by the City of Seattle to re-qualify all MFTE residents every year upon renewal. Fax: (206) 233-7117 -. Please contact the Leasing Office for any specific questions. 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 . Questions regarding Affirmative Marketing requirements should be directed to Joy Hunt (joy.hunt2@seattle.gov) at 206-684-0262. 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. Accessibility Statement Crew Apartments. MFTE's unique iterations over time are commonly referred to as Programs 1 through 6. For projects nearing the end of their 12-year MFTE program, a 12-year extension is available for application. Find the perfect place to live. <> Privacy Policy For 2 Bedroom - 85% Median Income. (206) 801-2334, 17500 Midvale Ave N DMCA Agent | The latest version of forms accepted by the program will be found below. 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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 Multifamily Property Tax Exemption (MFTE) Program provides a tax exemptionon eligible multifamily housing in exchange for income- and rent-restricted units. For example, Bridges @ 11th is currently waiving the application fee and security deposit. Learn more about the MFTE Program at STAZIONE25 in Seattle, WA. 700 5th Ave, Suite 5700, Seattle, WA, 98104 The . The MFTE is only on the ad valorem value of improvements; the land value continues to be taxed. $2,224 - 6,330. Retail Sales and Use Tax. If the cosigner does not meet any one (1) of the criteria, the cosigner will not qualify. 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. Phone Number (206) 806-7992. . Fees & Policies. The MFTE program incentivizes the development of multifamily and affordable housing on Bainbridge Island by exempting qualifying new housing from property taxes for 12 or 20 years on the residential improvement value of a development. 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. 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. Amenities. 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. (Page last updated 6/12/2019). Dog & Cat Friendly Fitness Center Dishwasher Refrigerator Kitchen In Unit Washer & Dryer Walk-In Closets Clubhouse Balcony. mfte seattle qualifications. The percentage of affordable units reserved is another item to balance along with targeted income level. In order to qualify for MFTE homes at STAZIONE25, household income must be below 65% of the area median income for Studios, below 75 . MFTE Program Available! MFTE Seattle is intended to help people find safe and comfortable rent-reduced housing. Promoting Washington, Business.wa.gov This can be challenging in the city of Seattle, especially for families earning moderate to low incomes. There are no income limits for our Market Rent Units. Subscribe to receive emails or SMS/text messages from Commerce or to access subscriber preferences. OH compliance staff review projects yearly and perform on-site file audits every one to three years. You can email Brandon Thomas, general manager of Bridges @ 11th, with your questions. MFTE Income Qualifications: 1 Person: $40,500 2 Persons: $46,280 3 Persons: $52,070. Please contact our Leasing Office to learn more about income qualifications, application process and apartment availability. To qualify for MFTE, you will need to verify that your household income falls within income eligibility limits which currently range from 40% - 90% of Seattle's area median income (AMI). Where it Works Washington State Legal Context. Doug Trumm. 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. 1406 East Republican Street, Seattle, WA 98112. Site Selectors/Investors Site, Public Records Request Rainier Valley Affordable Homeownership Initiative, 700 5th Ave, Suite 5700, Seattle, WA, 98104, Incentive zoning compliance for property managers, Read Seattle laws for renters and landlords. Latest News. Sora Apartments - MFTE. You do not make application for housing through the Seattle Office of Housing. Can students qualify? MFTE units shall be generally comparable to the other units in each structure that comprises the multifamily housing in terms of the following: 1) Status as a dwelling unit, SEDU, or congregate residence sleeping room; 2) Number and size of bedrooms and bathrooms; 3) Net unit area measured by square feet; 4) Access to amenity areas; 5) For projects with a covenant for 99-year affordability, a new 20-year MFTE program is available. You will be able to apply for: Up to two properties from the Low-Income Public Housing program. 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. These kinds of issues affirm the need for cities to develop clear goals and intended purposes when establishing incentives like MFTE, to help provide guidance when challenges arise as the market changes. Employment Security, /*/Metadata 702 0 R/ViewerPreferences 703 0 R>> Program outreach. 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; You may not be offered an MFTE apartment immediately, but housing situations change quickly and applicants in the wait pool may be offered apartments more quickly than they expect. Skip to main content Toggle Navigation. 1-3 Beds. - Seattle Times. Growing the Economy 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. Make independent decisions for the building within bounds of responsibility as deemed acceptable by management. Income Guidelines . Resident Login Opens in a new tab; Applicant Login Opens in a new tab; Terms and Conditions Opens in a new tab; Kerry Feeman Credits. mars 1. Household income for our MFTE units must be below the HUD Income Limits for Seattle as follows: For Studios - 65% Median Income. This property participates in the City of Seattle Multifamily Property Tax Exemption (MFTE) Program. Fax: (206) 233-7117 When that goes into effect, you may still qualify depending on what your raise is and what the income . Multi-Family Tax Exemption Program The City of Seattle's 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. MFTE gives landlords tax incentives if they commit to charging below-market rents to some units in their building. Privacy Policy | 999 Hiawatha. [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. 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. MFTE units should not be permitted to be rented with these services, as the public benefit is essentially helping to subsidize a private business. Click here for Screening Criteria. 40866 (PDF)Equity Index Council Action Memorandum (PDF)Implementing 2021 changes to the MFTE program (PDF)Implementing TOD and Commercial element to the MFTE program (PDF)Removing an RTA (PDF), Application Process Overview for Program (PDF)Application (PDF)Exemption Agreement (PDF)Pro Forma (PDF)Compliance Manual (PDF)Lease-up Certification Report (PDF)Lease Rider (PDF)Annual Certification Report (PDF)Household Eligibility Certificate (PDF)Assessor MFTE Program Checklist (PDF), MFTE Workbook Full (PDF)MTFE Workbook Feedback Form, MFTE Covenant Memo (PDF)Sample MFTE Covenant (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 Work Plan 2021 (PDF)MFTE Guidance RFP (PDF)MFTE Stakeholder WebinarMFTE Stakeholder Webinar Slides (Power Point), 2021 MFTE Report (PDF)2020 MFTE Report (PDF)2019 MFTE Report (PDF)2010 MFTE Report (PDF), About Us Cities should ensure that standards are clear. In Seattle, for example, these households often seek out MFTE properties and apply for available units before they can be advertised. Yardhouse. Between 2007 and 2018, 424 developments throughout Washington State received MFTE exemption. There is a select number of homes in this property that are part of this program. 2021-23 creating a City Multifamily Property Tax Exemption (MFTE) program.. The jurisdiction will have to weigh these arguments with their individual priorities. The 12 year period begins the first full calendar year after the project is completed. Department of Revenue If you qualify, your rental rates will be capped based upon your household income and the type of unit you rent. 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. Household income for our MFTE units must be below the HUD Income Limits for Seattle as follows: For Studios - 65% Median Income. In addition, tenants in affordable units should be required to recertify their income on a regular basis. 700 5th Ave, Suite 5700, Seattle, WA, 98104 At Bridges, for example, the REA and income verification are a one-time process that will qualify you for the program as long as you stay in your assigned MFTE unit. We gladly accept Housing Choice vouchers for all units. To be considered eligible the applicant must demonstrate that the total anticipated household income for the year after move-in is below a maximum income limit for the home. 50% AMI Studio. Dogs Welcome. Please note: The Under $5,000 in Household Assets Certification form has been removed and will no longer be accepted by the program for income certificationsstarted on or after 6/17/2019. Property managersmust: Refer to Compliance Manual and Compliance Reference above for more detail on income certification procedures.