Several issues to consider include: Appropriate targeted income level and income recertification. Occupancy Specialist Qualifications Must possess a working knowledge of MFTE & other affordable programs Able to interpret and understand tenant file information 700 5th Ave, Suite 5700, Seattle, WA, 98104 All cities and Clark, King, Kitsap, Pierce, and Snohomish counties may now offer an MFTE program. Address: These maximums are expressed as percentages of the area median income. 855 affordable units were officially added to Seattle's MFTE rolls in 2016, while one building with 12 affordable units saw its tax exemption expire along with the rent restriction. $2,195 2br - 919ft2 - (snohomish county) $1,769. The program authorizes 8, 12 and 20-year property tax exemptions to encourage the development of multifamily housing. $1,410 517ft2 - (Seattle) $2,085 mar 2 2-Bedroom MFTE Home Available For Immediate Move In! In addition, tenants in affordable units should be required to recertify their income on a regular basis. The most recent work product developed by Commerce is an informational webinar created for elected officials, appointed officials and other stakeholders at jurisdictions considering adoption of MTFE. 944 took effect, which introduced several new updates to Shoreline's MFTE programs. Affordable unit rents should be below market, but not so low that tax exemption is not a sufficient incentive. Kerry Feeman MFTE units should not be permitted to be rented with these services, as the public benefit is essentially helping to subsidize a private business. Skip to main content Toggle Navigation. Please get in touch with our leasing team with any questions on how to qualify for these homes. 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 homes are available to low to moderate income households, with specific income requirements dependent on the size of the household . MFTE Program Available! $1,450 1br - 611ft2 - (South Seattle, Beacon Hill, Martin Luther King Way) $2,195. 1406 East Republican Street, Seattle, WA 98112. The required public benefit to obtain the eight year exemption is left to the citys discretion, andaffordable housing is not required, though a city may choose to do so. Email: Housing@seattle.gov, Sign up for the latest updates from Housing. 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. Should you have questions, or need more time due to needing language interpretation or need reasonable accommodation due to a disability, please contact your Leasing Specialist via their direct phone listed in the ad, or contact our office at 206-315-4628. The income restrictions come out approximately every year in May. $1,410 517ft2 - (Seattle) $1,410 mar 2 MFTE Open 1-Bedroom Price Drop! This property participates in the City of Seattle Multifamily Property Tax Exemption (MFTE) Program. Age 55 or older. Address. Doug Trumm. Once complete, the property will certify the income of the household to determine program eligibility. Login. Can students qualify? Qualifications: Previous experience in property . 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 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. Privacy Policy | MFTE gives landlords tax incentives if they commit to charging below-market rents to some units in their building. Find Affordable Housing: A list of resources to find affordable apartments Know the Law: A clearinghouse of local regulations and laws related to housing 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 . Budget advisors generally recommend keeping housing costs at 30% of your households income or less. $50,780. Housing and Human Services Coordinator Visit the priority access rentals and affordable housing website for more information and subscribe to the UW Insider for updates about affordable housing resources. 1-3 Beds. MFTE/IZ/MHA units are a limited resource in extremely high demand and are . 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 bedrooms. This position requires in depth knowledge of the MFTE housing program in addition to excellent communication and interpersonal skills. 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. For 2 Bedroom - 85% Median Income. These utility allowances are available on, Household must be below the maximum allowable income limit and have all above documentation on file prior to signing a lease/renting unit. Submit all required consent forms. An urban center must contain: (a) Several existing or previous, or both, business establishments that may include but are not limited to shops, offices, banks, restaurants, governmental agencies; (b) Adequate public facilities including streets, sidewalks, lighting, transit, domestic water, and sanitary sewer systems; and (c) A mixture of uses and activities that may include housing, recreation, and cultural activities in association with either commercial or office, or both, use. (RCW 84.14.010). Bookmark the permalink. MFTE. Virtual Tour. 2022 Income and Rent Limits, 2022 Income Limts - Weatherization and Home Repair Programs, Maiko Winkler-Chin, Director 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. 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. 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. The MFTE program provides affordable rent, typically hundreds of dollars lower . 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. A retail sale is the sale of tangible personal property. Also do they automatically send the employment verification to your employers. The Multi-Family Tax Exemption program, known as MFTE, is part of the City of Seattles efforts to make available more affordable rental options. (206) 496-0769. The program authorizes 8, 12 and 20-year property tax exemptions to encourage the development of multifamily housing. Apply And Get Up To 6 Weeks Free! 1 Month Free. Cities should ensure that standards are clear. Section 8 and other subsidy programs welcome. 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. These guidelines limit the maximum rents that may be charged, and the incomes of eligible tenants, to ensure that housing is affordable to those who need it. While average rents in our area declined during the pandemic, they are still among the highest in the country. In these areas, approved multifamily projects are exempt from ad valorem property taxes for a period of eight or 12 years, per RCW 84.14. 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. 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It is comprised of a state component at 6.5% and a local component at 1.2% - 3.8%; total 7.7% - 10.3%. MFTE Income Qualifications: 1 Person: $40,500 2 Persons: $46,280 3 Persons: $52,070. Sora Apartments - MFTE. 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. Qualifications: Must meet our renter's requirements for the Chinook Apartment (675 credit score minimum & proof of income equal to 2.5x the monthly rent per hosuehold) Previous experience in property management (Lease Up Experience is a PLUS) Familiarity with Seattle Rental Housing Regulations Ability to build rapport with residents By supporting mixed-income residential development in the urban centers, the MFTE program ensures affordabilty as the community grows. Learn more ways to build your financial confidence and get closer to reaching your financial goals with Financial Literacy Month events and resources offered by The Whole U and its partners. Properties participating in the programs will have the most current information on vacancies and will conduct the income certification process. endobj By clicking on the links below, one can view maps that determine whether one's parcel falls within a MFTE area. Income Guidelines . 2023 AHA. All cities and Clark, King, Kitsap, Pierce, and Snohomish counties may now offer an MFTE program. 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. Do You Qualify For MFTE? By supporting mixed-income residential development in the urban centers, the MFTE program ensures affordability as the community grows. In 2021, significant changes were made to the program, find a summary at this link. Created for free using WordPress and, Stimulate Construction and Rehabilitation through Tax Abatements. Disabled. Program outreach. Management maintains the building clean. The City of Seattles MFTE Compliance Guideprovides a nice example of an effort to keep property managers informed of MFTE obligations. July 19, 2017. The Seattle Housing Authority partners with the Office of Housing and MFTE property managers in facilitating the programs affirmative marketing requirements. The 2021-2023 State Operating Budget (Section 111, Page 69) provides a funding proviso for Commerce to conduct a study and report to the legislature on implementation of the MFTE program. This page will have continuous updates on the program so check back often. Yardhouse. Property management education. Under a Multifamily Tax Exemption (MFTE), cities define residential target areas with insufficient housing opportunities where development is eligible for MFTE. 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. 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. Resident Login Opens in a new tab; Applicant Login Opens in a new tab; Terms and Conditions Opens in a new tab; State law sets specific standards as to what can qualify as a target area, detailed below. For more information on the MFTE program please click here to visit the Seattle Office of Housing. The Occupancy Specialist assists in the preparation and delivery of affordable housing files for the property to ensure on-going affordable housing program (s) compliance and adherence according to local and state operations policies. The MFTE program currently requires that 1 in 5 units be income-restricted.