Washington Legislation Would Require State LIHTC Agency to Amend Policies, Scoring to Encourage More Private Developer Participation

Wednesday, January 19, 2022 - 12:45pm

A bill introduced this week in the Washington Senate would require the state housing finance commission to amend internal policies and project scoring criteria to encourage more private developer involvement in the state’s allocation of 9% low-income housing tax credits (LIHTCs). S.B. 5759 cites a state report that indicates private developers could build units at 87% the cost of nonprofit developers and 78% of the cost of governmental agencies and the need for a more diverse mix of developers for affordable housing.

Development costs and working with state agencies will be topics at the Novogradac 2022 Affordable Housing Conference, April 28-29 in San Francisco.