The program is only available for investors who build or rehabilitate four or more units to rent. 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 MFTE program provides affordable rent, typically hundreds of dollars lower . 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. The miles and minutes will be for the farthest away property. x]mo9n -v0vI.Hv&&8V-9WUdwEzq9p$fU=UEV-EtpXIinlg,xM=w$N_%(r~_/OETF/^ &D$,.eTde_.Wi~b ={[O.^;,M|UTEd2EV!VAB4Fp$tX.WpG|e=exa mQGp(hfCD{{}+13=Q[)j1+Me?.u, =K^%\. There is a select number of homes in this property that are part of this program. 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. Fax: (206) 233-7117 Find Affordable Housing: A list of resources to find affordable apartments Know the Law: A clearinghouse of local regulations and laws related to housing In Snohomish County, MFTE programs are allowedin cities with a minimum population of 5,000. Have applicants disclose all income sources onResident Eligibility Application (REA), Obtaindocumentationfor each income source and asset disclosed by applicant, Calculate total household income from source documentationand enter into Household Eligibility Certification (HEC), Rainier Valley Affordable Homeownership Initiative, 2022 MFTE/IZ/MHA Annual Property Cerification Form, Renter's Guide to the City of Seattle's MFTE and IZ Programs, HUD 4350.3 REV-1Chapter 5 Determining Income and Calculating Rent, Fair Housing in Washington State for Property Owners and Managers, Household Eligibility Certification (HEC), 700 5th Ave, Suite 5700, Seattle, WA, 98104, Incentive zoning compliance for property managers, Read Seattle laws for renters and landlords, Seattle Office of Housing programs primarily use the Seattle Housing Authority's (SHA) utility allowance when determining maximum rent levels (see Income & Rent Limits). Please contact the Leasing Office for any specific questions. 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. The program authorizes 8, 12 and 20-year property tax exemptions to encourage the development of multifamily housing. If approved, your income-qualified rent will be capped at a maximum amount for the length of your lease term. Program Index Mailing Address: Also do they automatically send the employment verification to your employers. UW CareLink consultants will ask questions to understand where you want to live, what amenities or criteria your new housing needs to include and what your housing budget . Please register using the links below. All cities and Clark, King, Kitsap, Pierce, and Snohomish counties may now offer an MFTE program. 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 . 1 0 obj Phone Number (206) 420-2399. Qualifications: Previous experience in property . 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. 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. 2023 AHA. Copyright 2023 Seattle Housing Authority, Income level - Housing Choice Voucher program, Commercial space available in Seattle Housing Authority community - NewHolly Family building - Childcare Space, Accidental Death and Dismemberment Insurance, Housing Authority Insurance Group Life Insurance, Multi-Family Tax Exemption Program (MFTE), Property Managers can send their completed. 700 5th Ave, Suite 5700, Seattle, WA, 98104 endobj By supporting mixed-income residential development in the urban centers, the MFTE program ensures affordability as the Seattle community grows. We gladly accept Housing Choice vouchers for all units. Have no more than 10 people. 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. Do You Qualify For MFTE? Visit the citys website to compare your household income with the current MFTE income and rent limits. 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. The . RCW 84.14.100 requires Commerce to develop guidance for local governments, and to develop and Cities should ensure that standards are clear. %PDF-1.7 By supporting mixed-income residential development in the urban centers, the MFTE program ensures affordability as the community grows. 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. Apply And Get Up To 6 Weeks Free! 75% AMI 2-bedroom. This page will have continuous updates on the program so check back often. MFTE applicants will be required to fill out . PO Box 94725, Seattle, WA , 98124-4725 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 . 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 The percentage of affordable units reserved is another item to balance along with targeted income level. 999 Hiawatha. 999 Hiawatha Place South, Seattle, WA 98144. 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. 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. 1 Bedroom. 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. We are a pet-friendly community! 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 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 Seattles area median income (AMI). Depending on your propertys MFTE agreement, you may need to re-qualify every year or only if you change MFTE units. Renters: This page is intended for property managers of buildings participating in the MFTE, MHA and IZprograms. <> Subscribe to receive emails or SMS/text messages from Commerce or to access subscriber preferences. <> Affordable housing below market rates are available to individuals and families that meet the income guidelines. CONNECT WITH US. Disclosures & Licenses | MFTE applicants can have a maximum income of $49,400 for a single household, or $56,450 a two-person household. Encourage more mMultifamily hHousing opportunities within the cCity; 2. Income and Rent Guidelines ARCH establishes income and rent guidelines for a range of affordable housing projects across East King County. 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. 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 . City of Seattle MFTE homepage Spreadsheet of properties View Buildings 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). Household Income must be 2.5 x amount of rent. First, some context for readers who may be unaware: The median household income (called usually the AMI, area median income) in Seattle is currently -- astonishingly -- $80,000.Which means if you have two earners at 40 hours a week earning less than $20 an hour, or a single person earning less than $39 an hour (!) Property Tax Exemption (MFTE) Program. Ineligible applicants may not rent the income restricted unit. Properties participating in the programs will have the most current information on vacancies and will conduct the income certification process. By supporting mixed-income residential development in the urban centers, the MFTE program ensures affordabilty as the community grows. Cats Welcome. In order to qualify for the MFTE incentive, the applicant must commit to 20% of the project meeting the affordable housing definition in Shoreline Municipal Code (SMC) Chapter 3.27.020. There is a select number of homes in this property that are part of this program. On November 9, City Council approved Ordinance No. Household income for our MFTE units must be below the HUD Income Limits for Seattle as follows: For Studios - 65% Median Income. There may be some need to define units in some way for example, a unit may be advertised as an open one bedroom, eligible for higher rents than a studio while still being in compliance with the program, but is in actuality essentially a studio that should have a lower rent. 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". 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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If you are a prospective tenant looking for MFTE program housing or other affordable housing, please see the Affordable Housing Opportunities Brochure. Income Guidelines . If you meet the income qualifications, it's worth keeping an eye out for I see listings for the MFTE units pretty regularly." "Great service. Skip to main content Toggle Navigation. Program outreach. All cities and Clark, King, Kitsap, Pierce, and Snohomish counties may now offer an MFTE program. stream MFTE Income Qualifications: 1 Person: $40,500 2 Persons: $46,280 3 Persons: $52,070. 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. 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. 1406 East Republican Street, Seattle, WA 98112. Section 8 and other subsidy programs welcome. 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. See the Renter's Guide for more detail.