Washington Administrative Code Title 262 - Housing Finance Commission
Washington Administrative Code (WAC) Title 262 – Housing Finance Commission
WAC Title 262 governs the Washington State Housing Finance Commission (WSHFC). This title contains rules and regulations related to the Commission’s programs, responsibilities, and operations aimed at increasing housing affordability and access to capital for residents of Washington State.
Key Areas Covered in WAC Title 262:
General Provisions (Chapter 262-01)
Outlines the purpose and statutory authority of the Housing Finance Commission.
Defines terms and establishes organizational structure and procedural rules.
Rules of Procedure (Chapter 262-02)
Covers procedures for public meetings, rulemaking, and Commission operations.
Specifies how the Commission adopts and amends its administrative rules.
Bond Issuance and Financing Programs (Chapters 262-03 to 262-06)
Describes how the Commission issues tax-exempt and taxable bonds to finance affordable housing, nonprofit facilities, and energy projects.
Details the application process, eligibility criteria, and compliance obligations for developers and borrowers.
Homeownership Programs
Rules around first-time homebuyer assistance programs, down payment assistance, and mortgage credit certificate (MCC) programs.
Sets standards for lender participation and borrower eligibility.
Multifamily and Affordable Housing
Includes provisions for financing rental housing projects.
Prioritizes housing for low- and moderate-income individuals and families.
Sustainable Energy Programs
Supports financing for energy efficiency and renewable energy projects.
Compliance and Reporting
Requires participants to submit regular reports to ensure ongoing eligibility and accountability.
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