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View 28 pictures of the 16 units for UW 5246 Brooklyn AVE NE, Seattle - 002-MFTE Apartments - Seattle, WA | Zillow, as well as Zestimates and nearby comps. Property management education. 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. $2,195. Promoting Washington, Business.wa.gov CONNECT WITH US. If approved, your income-qualified rent will be capped at a maximum amount for the length of your lease term. General Requirements To qualify for subsidized housing, you must be one of the following: A family with children under age 18. DMCA Agent | 60% AMI 1-bedroom. The income levels listed below are current as of April 2022. There are no income limits for our Market Rent Units. 999 Hiawatha Place South, Seattle, WA 98144. Created for free using WordPress and, Stimulate Construction and Rehabilitation through Tax Abatements. Once complete, the property will certify the income of the household to determine program eligibility. 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. If you qualify, your rental rates will be capped based upon your household income and the type of unit you rent. The program authorizes 8, 12 and 20-year property tax exemptions to encourage the development of multifamily housing. These homes are available to low to moderate income households, with specific income requirements dependent on the size of the household . Unit mix and definitions. There is a select number of homes in this property that are part of this program. $1,450 1br - 611ft2 - (South Seattle, Beacon Hill, Martin Luther King Way) $2,195. Depending on your propertys MFTE agreement, you may need to re-qualify every year or only if you change MFTE units. Email: Housing@seattle.gov, Sign up for the latest updates from Housing. Phone Number (206) 806-7992. . Department of Revenue 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 Mailing Address: 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. $50,780. 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. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> 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 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 . 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 (!) By clicking on the links below, one can view maps that determine whether one's parcel falls within a MFTE area. All properties participating in the MFTE and Incentive Zoning programs must certify that applicants are income eligible for the program(s). 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. 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. On November 9, City Council approved Ordinance No. Yes and No. The program is only available for investors who build or rehabilitate four or more units to rent. 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. MFTE Income Qualifications: 1 Person: $40,500 2 Persons: $46,280 3 Persons: $52,070. By supporting mixed-income residential development in the urban centers, the MFTE program ensures affordability as the Seattle community grows. MFTE units will be highly desirable and the supply will likely not meet demand. Between 2007 and 2018, 424 developments throughout Washington State received MFTE exemption. 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. July 19, 2017. The Multi-Family Tax Exemption program, known as MFTE, is part of the City of Seattles efforts to make available more affordable rental options. Bookmark the permalink. 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. Employment Security, /*

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