If parking is required by zoning or included in the project for other reasons, please describe any efforts to design parking with minimal cost impact to the project. If a tax credit project, are the parking construction costs included in eligible basis, and are parking rents charged in addition to rent and included in the maximum tax credit rent calculations? If non-residential space is included in the proposed design, describe the method used to allocate development costs to non-residential financing. ** Note that all public funders will review development budgets in relation to the Washington State Housing Finance Commission’s (WSHFC) Total Development Cost per Unit Limits, but may consider other factors to evaluate whether development costs are reasonable. WSHFC’s proposed 2017 limits are as follows: TDC per Unit Limit Studio One Two Three Four+ Schedule Bedroom Bedroom Bedroom Bedroom King County/Seattle $244,635 $283,137 $300,873 $337,428 $371,706 Pierce and Snohomish $235,431 $274,642 $290,848 $327,305 $360,556 Counties Metro Counties $227,764 $256,964 $281,190 $324,450 $357,410 Balance of State $165,191 $185,993 $210,822 $273,840 $301,338 *Total Development Cost as defined by WSHFC excludes the cost of land and capitalized reserves. The 2017 proposed policy also excludes offsite infrastructure. Please see the WSHFC for further clarification. If your project’s Total Development Costs (TDC) exceed the maximum TDC Limits established by the Washington State Housing Finance Commission, please explain. Tab 6 Forms Please complete the following Excel forms and insert them behind Tab 6: Form 6A: Development Budgets Form 6B: Development Budget Details Form 6C: LIHTC Budget (Basis Calculation) Form 6D: LIHTC Calculation Form 6E: Fee schedule
If parking is required by zoning or included in the project for other reasons, please describe any efforts to design parking with minimal cost impact to the project. If a tax credit project, are the parking construction costs included in eligible basis, and are parking rents charged in addition to rent and included in the maximum tax credit rent calculations? If non-residential space is included in the proposed design, describe the method used to allocate development costs to non-residential financing. ** Note that all public funders will review development budgets in relation to the Washington State Housing Finance Commission’s (WSHFC) Total Development Cost per Unit Limits, but may consider other factors to evaluate whether development costs are reasonable. WSHFC’s proposed 2017 limits are as follows: TDC per Unit Limit Schedule Studio One Bedroom Two Bedroom Three Bedroom Four+ Bedroom King County/Seattle $244,635 $283,137 $300,873 $337,428 $371,706 Pierce and Snohomish Counties $235,431 $274,642 $290,848 $327,305 $360,556 Metro Counties $227,764 $256,964 $281,190 $324,450 $357,410 Balance of State $165,191 $185,993 $210,822 $273,840 $301,338 *Total Development Cost as defined by WSHFC excludes the cost of land and capitalized reserves. The 2017 proposed policy also excludes offsite infrastructure. Please see the WSHFC for further clarification. If your project’s Total Development Costs (TDC) exceed the maximum TDC Limits established by the Washington State Housing Finance Commission, please explain. Tab 6 Forms Please complete the following Excel forms and insert them behind Tab 6: Form 6A: Development Budgets Form 6B: Development Budget Details Form 6C: LIHTC Budget (Basis Calculation) Form 6D: LIHTC Calculation Form 6E: Fee schedule
HFU-HTF-Sections-v1x0-2016.docx