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The program authorizes 8, 12 and 20-year property tax exemptions to encourage the development of multifamily housing. State law sets specific standards as to what can qualify as a target area, detailed below. Fees & Policies. I successfully included another important amendment to increase the number of setaside units. Cats Welcome. 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. Applicants must apply for a Conditional Certificate of MFTE prior to receiving building permits. Commerce will use this work to answer frequently asked questions, support community planning, and support implementation and operating of MFTE programs throughout the state. 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. Ordinance No. 1406 East Republican Street, Seattle, WA 98112. These rent-restricted units are available only to tenants who earn less than a certain percentage of the areas median income. For 2 Bedroom - 85% Median Income. Property management education. Applicants to MFTE units must income qualify and must have all income sources verified prior to signing a lease to ensure compliance with the programs income restrictions. Encore at Columbia Station has 5 parks within 3.1 miles, including Genesee Park and Playfield, Jefferson Park, and Bradner Gardens Park. Eligible residents will receive a restricted rent that is capped at a maximum amount for a defined period. Crew Apartments. Please register using the links below. Continue reading. 700 5th Ave, Suite 5700, Seattle, WA, 98104 Property Tax Exemption (MFTE) Program. 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. Find the perfect place to live. 2022 Income and Rent Limits 2022 Income Limts - Weatherization and Home Repair Programs In Seattle, for example, these households often seek out MFTE properties and apply for available units before they can be advertised. Fax: (206) 233-7117 Building Infrastructure Qualifications: Previous experience in property . -. The percentage of affordable units reserved is another item to balance along with targeted income level. Budget advisors generally recommend keeping housing costs at 30% of your households income or less. 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. . Phone: (206) 684-0721 Disabled. The Multifamily Property Tax Exemption (MFTE) Program provides a tax exemption on eligible multifamily housing in exchange for income- and rent-restricted units. 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. 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). Complete required screening and annual paperwork for MFTE units within City of Seattle guidelines. Visit the citys website to compare your household income with the current MFTE income and rent limits. This position requires in depth knowledge of the MFTE housing program in addition to excellent communication and interpersonal skills. 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. PO Box 94725, Seattle, WA , 98124-4725 Please contact the Leasing Office for any specific questions. Community Relations and UW Work-Life work together to identify affordable housing options for UW employees, including properties that offer priority selection to qualified applicants who are UW Staff and UW Students. State law sets specific standards as to what can qualify as a target area, detailed below. The Sales and Use Tax is Washington's principal revenue source. Have no more than 10 people. . 2021-2023 MFTE Program Work Plan Prospective residents will complete the propertys standard rental screening process. 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. This property participates in the City of Seattle Multifamily Property Tax Exemption (MFTE) Program. Electricity and wifi paid separately. If your preferred property does not have MFTE units available, ask if they have an MFTE wait pool or contact list. 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 UW employees receive priority access to rent-restricted MFTE units at Bridges @ 11th, an apartment complex located in the University District. mfte seattle qualifications. Attend annual MFTE training as required for MFTE compliance with the City of Seattle. If you are a prospective tenant looking for MFTE program housing or other affordable housing, please see the Affordable Housing Opportunities Brochure. There is a select number of homes in this property that are part of this program. Encore at Columbia Station has 2 shopping centers within 1.2 miles, which is about a 3-minute drive. Household Income must be 2.5 x amount of rent. 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. Kerry Feeman Initially established in 2002, the MFTE program was simplified into one comprehensive 12-year affordable program on February 9, 2015. The second bill would renew the city's Multifamily Tax Exemption (MFTE) a tax break for developers who include subsidized affordable units in their apartment buildings. For projects with a covenant for 99-year affordability, a new 20-year MFTE program is available. 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 . The Multifamily Tax Exemption (MFTE) program has approved 7,518 affordable units, as of the end of 2016. Amenities. 1 Month Free. MFTE applicants will be required to fill out . Office of the Governor Disclosures & Licenses | Questions regarding Affirmative Marketing requirements should be d 700 5th Ave, Suite 5700, Seattle, WA, 98104 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. Initial Applications for new Multifamily Housing projects must be submitted to the Office of Housing at least 180 days prior to the temporary certificate of occupancy. The income levels listed below are current as of April 2022. MFTE. 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. This property participates in the City of Seattle Multifamily Property Tax Exemption (MFTE) Program. This website is unaffiliated with the City of Seattle. For rental properties in Seattle, effective February 19, 2018 landlords can no longer . Latest News. 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) 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). Department of Revenue 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. 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. These amenities may not be available for every unit. It would also add new . Shoreline, WA 98133-4905 ONE MONTH FREE RENT! Encourage the creation of mixed-income housing that is affordable to households with a range of incomes in rResidential tTargeted aAreas; 4. 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 . endobj 60% AMI 1-bedroom. The MFTE is only on the ad valorem value of improvements; the land value continues to be taxed. MFTE Seattle Find modern rent-reduced apartments in Seattle through the Multifamily Tax Exemption program. We do not accept Comprehensive Reusable Tenant Screening Reports as defined by and pursuant to RCW 59.18.030. Each property offers their own incentives and the up-front savings can return nearly a full months rent to your pocket. Address: For 1 Bedroom - 75% Median Income. In 2021, significant changes were made to the program, find a summary at this link. Make independent decisions for the building within bounds of responsibility as deemed acceptable by management. The website focuses on the MFTE (Multifamily Tax Exemption) program because of the relatively quick application turnaround, high availability, and desirable buildings and locations. 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. 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. The successful candidate will possess the ability to multitask, make smart and timely decisions with limited guidance, and be highly self-motivated with a strong sense of initiative and collaborative work style. For projects nearing the end of their 12-year MFTE program, a 12-year extension is available for application. 50% AMI Studio. (206) 801 - 2700, Website Design by Granicus - Connecting People and Government. As part of this process, information and updates are being shared on this page as progress is made on the required elements. Yardhouse. 2 0 obj $1,410 517ft2 - (Seattle) $2,085 mar 2 2-Bedroom MFTE Home Available For Immediate Move In! Employment Security, /*