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Built on the former land of the St. Francis House (SFH), Bertha Pitts Campbell Place is one of National Equity Fund’s (NEF) outstanding developments that opened in 2022. Located in Seattle, Bertha Pitts Campbell Place brings 100 units of affordable, permanent supportive housing to adults exiting chronic homelessness. Plymouth Housing Group collaborated with SFH to develop a service-enriched community that supports residents through case management, transitional amenities, onsite nursing, health care, and more. The seven-story building also features street-level offices for St. Francis House and a commercial retail storefront. This development is named in honor of Bertha Pitts Campbell, a civil leader and co-founder of Delta Sigma Theta Sorority, a historically Black sorority. In the 1930s, Campbell became an inaugural board member of the Seattle Urban League and fought for Black Americans in her area to have equal rights and privileges as well as access to financial support and affordable housing. She was also the first woman of African descent to serve on a YWCA board in the United States. NEF's investment in developments like Bertha Pitts Campbell Place not only aligns with our mission to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing, but it also reflects our efforts to ensure that our team has the experience and knowledge to effectively support the diverse individuals, families, and communities we serve. NEF strives to be a diverse, equitable, and inclusive place to work, which enables us to develop housing for those who need it most, including often neglected and marginalized communities. New NEF initiatives like the Emerging Minority Development Fund (EMDF) and Pay It Forward (PIF) Program expand access to LIHTC and build the financial capacity of affordable housing developers of color. Thanks to EMDF’s funding, developers of color who had not previously had access to the funding and resources they needed, over 200 units of affordable housing will be built over the next several years. These initiatives provide great opportunity for developers of color as well as the greater potential for more affordable housing. NEF is committed to bridging the gap between people and communities across the country by embracing differences, learning from the unique experiences of our partners, residents, and employees and taking a leadership role to create a more inclusive world. At NEF, we want to advance housing for all and ensure that everyone has access to a safe, stable, and affordable home.

By Ann Melone, U.S. Bancorp Impact Finance Affordable Housing Business Development Officer When the Inflation Reduction Act of 2022 (IRA) was signed into law by President Biden on Aug. 16, 2022, U.S. Bancorp Impact Finance quickly formed a cross-disciplinary team to begin to understand the implications of the Act on our affordable housing developer partners and put into place the necessary approvals so we could invest in the newly expanded credits. The IRA renewed and expanded the Section 45L, which previously was only authorized one year at a time and reduced LIHTC basis. The credit is now authorized for 10 years, does not reduce LIHTC basis, and is available on a variable basis from $500-$5,000 per unit, depending on the level of efficiency selected. Impact Finance recently closed on a 99-unit new construction family project in Omaha, Nebraska, with a commitment to invest in 45L credits, along with federal LIHTCs and other sources. The project team is targeting $2,500 per unit, which results in $247,500 in additional credits, assuming all units will qualify for the credit. The proceeds from the equity will be used to pay developer fees once the certification is provided. Our team is looking forward to more opportunities around the corner that we believe will provide long-term benefits to owners of affordable housing through solar installations. Section 48E Renewable Energy Investment Tax Credits, which had been stepping down, were renewed at a 30% subsidy on installation cost. Formerly, the code required a 50% reduction in LIHTC basis when 48E credits were claimed, but this reduction has been eliminated. Also, the IRA authorized the Low-Income Communities Bonus Credit Program, which applies on top of the investment credit for certain energy property less than five megawatts: 10% bonus for low-income communities or on Indian land; and a 20% bonus for LIHTC projects. Bonus credits are limited in each of 2023 and 2024 and must be awarded through the Department of Energy (DOE). DOE has more information and links on its website: Low-Income Communities Bonus Credit Program | Department of Energy and applications for 2023 are expected to be open in early fall 2023. We thrive on constantly learning and being nimble to best serve our clients and collaborate with key partners. The primary takeaways from changes authorized by the IRA are: Developers should work with their architects, contractors, energy consultants and accountants to determine eligibility for 45L or 48E credits. These credits can bring additional equity to pay for energy efficient elements you may already plan on including. Watch for opportunities to apply to the DOE for a boost to energy production credits for affordable housing communities in 2023 and 2024. Work with your financing team to understand the requirements and timing to bring this equity into your project successfully. Housing Washington 2023 Gold Sponsor

FOR IMMEDIATE RELEASE Contact: Housing Washington info@housingwa.org The team at Housing Washington 2023 today announces three virtual pre-conference events with nationally recognized keynoters. These events are free to all registrants of Housing Washington and, even if you cannot attend the conference on Oct. 3 – 5, 2023 in Tacoma, you can join us just for the Lunch presentations. Join us on Sept. 15th for Rasheed Phillips of Policy Link, Sept. 21st for Dr. Leah Stokes from University of California, and Chris Herbert, Harvard’s Joint Center for Housing Studies. Each of these events touch on critical issues impacting affordable housing and homelessness in our state, from climate change to racial justice to the state of the nation’s housing. Learn more about each of these presenters at the Lunch with Housing Washington bio page. . # # #

https://www.nbcnews.com/politics/economics/housing-prices-surge-rents-homeowners-fight-rcna93789

Beacon Development Group is proud to be the recent recipient of two different awards for exemplary service to the community: The Award of Merit from the National Association of Housing and Redevelopment Officials (NAHRO) and the Award of Excellence from the Urban Land Institute (ULI). Beacon and the Yakima Housing Authority are proud to be the recipients of the “Award of Merit 2022” for Community Revitalization from NAHRO for Chuck Austin Place (CAP). CAP provides 41 supportive housing units focused on ending veteran homelessness in Yakima through affordable housing and multi-faceted social services. These services include a full-time Resident Services Coordinator which works closely with residents to establish goals and connect resident to their goals, a weekly food pantry, and Veterans’ Benefit Coordinators who work with veterans to secure their VA benefits. CAP’s holistic model is unique to Yakima, to veterans, and to service collaboration. Additionally, Beacon and Hopeworks Social Enterprises are proud to be the recipients of ULI’s “Award of Excellence 2022” for Hopeworks Station North. Hopeworks Station North provides 65 units of housing for homeless and low-income individuals, with 57 dedicated to those facing homelessness. Hopeworks additionally offers an internship program for 75 low-income individuals annually. Internships include their culinary food service program called FoodWorks, a retail training center, and a youth career center. Beacon Development Group is proud to be recognized for their service to the Puget Sound’s homeless community and especially its homeless veterans.

A Word from Heritage Bank Nearly a third of the nation’s households are financially burdened when it comes to owning or renting a suitable home. According to the National Association of Home Builders (NAHB), more than 30% of their income goes toward housing. The association cites the following factors as part of the overall housing cost equation: labor and materials prices; interest rates and financing costs; federal, state and local regulations; and supply and demand. Further analysis by NAHB shows that regulatory requirements make it difficult to increase the supply of affordable housing. In the Puget Sound region, and even statewide, affordable housing is a focused concern. In markets with high job growth, like the greater Puget Sound area, financing for affordable housing developments (for moderate incomes and previously homeless individuals) can take three to five years for developers. The Puget Sound area boasts a sophisticated list of nonprofit developers with expertise in affordable housing. But there’s no single source of financing to make affordable housing work. It takes specialized expertise to structure affordable housing transactions and to navigate through the complex form of financing to realize a construction project. Heritage Bank offers one-stop financing for nonprofit developers. From construction and permanent financing to the purchasing of federal low-income housing tax credits to making the housing transaction balance out and offer less debt and more equity. The process requires a dedicated team of experts. While most larger banks have a centralized approach to real estate and construction loans, Heritage Bank credit decisions are made in the local market. Homeownership is one of the most significant ways that individuals and families can build wealth. When a person achieves homeownership, they are no longer subject to displacement due to rent increases, building sales or the landlord losing the house. Their resources are no longer tied up in excessive commuting, paying high rent or serial, frequent relocation. That’s why it’s important for vibrant communities to have affordable housing for all income levels and a bank that can structure affordable housing transactions quickly and locally. Heritage looks forward to a continued partnership with the Washington State Housing Finance Commission and supporting the Housing Washington conference. Because when neighbors help neighbors, the whole community benefits. And that’s true prosperity.

FOR IMMEDIATE RELEASE Contact: Housing Washington info@housingwa.org Housing Washington today announced a new hybrid conference for its 29th annual affordable housing conference. The event, taking place this fall, will present a series of free virtual events on Sept. 29 and 30, and Oct. 7 and 14, to complement a live, fee-required in-person event at the Spokane Convention Center, in Spokane, Washington on October 2-3, 2022. Virtual events free to the public through separate registration: Thursday, Sept. 29, 2022: Housing Washington Keynote Presentation: 12:00 p.m. to 1:00 p.m. Friday, Sept. 30, 2022: Housing Washington Keynote Presentation: 12:00 p.m. - 1:00 p.m. Thursday, Oct. 7, 2022: Friend of Housing Awardees Connect: 12:00 p.m. - 1:00 p.m. Thursday, Oct. 14, 2022: Friend of Housing Awardees Connect: 12:00 p.m. - 1:00 p.m. The in-person live conference event begins Sunday, Oct. 2 with late afternoon sessions followed by the Friend of Housing Awards reception and continues Monday, Oct. 3 with a full day of programming. Conference fees apply and registration is required. Virtual events, as noted above, are included in the full conference registration. Housing Washington is Washington state’s most significant resource for affordable housing guidance, innovation, and solutions. Led by the Washington State Housing Finance Commission in partnership with the Washington State Department of Commerce and Washington Low Income Housing Alliance, the annual conference enhances the skills, vision, and understanding of professionals working in affordable housing in Washington state and challenges them to work toward racial equity and social justice. The event presents a comprehensive educational program, including special events and networking opportunities, designed to cultivate conversations, collaborations, and productive engagement to advance an affordable housing agenda that serves to break down barriers for people of color and others who have been systemically excluded. For more conference details visit www.housingwa.org. # # #

FOR IMMEDIATE RELEASE Contact: Catherine Filippini Housing Washington 425-761-5717 Conference Program Again Offered Free of Charge in Virtual Format Seattle, WA (Sept. 23, 2021) – Housing Washington, the leading affordable-housing conference in Washington state, is again going virtual with a free, two-day educational event October 5-6. Registration is open at www.housingwa.org. The program will offer a range of learning opportunities, along with opportunities to engage with top affordable housing leaders, industry experts, and a broad audience of industry professionals in timely and important conversations that help drive housing solutions. The conference is offered free of charge again this year, courtesy of industry conference sponsors who share a strong commitment to advancing affordable housing in Washington. Housing Washington is also committed to fostering racial equity and social justice across the affordable housing sector, which continues to be reflected in the conference programming and presenters. This year’s live keynote topics and speakers, in order of scheduled presentation, include: The State of Housing in Washington: Honorable Jay Inslee, Governor, Washington State Advancing the National Affordable Housing Agenda: Opportunities, Programs & Priorities to Meet the Housing Crisis: Adrianne Todman, 12th Deputy Secretary, US Dept. of Housing & Urban Development Realizing the Potential of the Biden Housing Agenda: Emily Cadik, Executive Director, Affordable Housing Tax Credit Coalition & Diane Yentel, President & CEO, National Low Income Housing Coalition Discriminatory Practices in Housing & Wealth Building in America: Ibram X. Kendi, Ph.D., Nationally Recognized Author & Activist Rural Agenda; US Department of Agriculture’s National 2022 Agenda: Justin Maxson, Deputy Undersecretary, Rural Development, US Department of Agriculture A Housing Playbook for the Future of Affordable Housing: Julián Castro, Former Secretary of U.S. Housing & Urban Development In addition to the live keynotes, attendees can join one of 19 live concurrent breakout sessions and 6 live webinar sessions featuring national, regional, and local industry experts. Attendees will also have access post-event to view sessions on-demand. The full program can be found at www.housingwa.org/program and list of speakers at www.housingwa.org/speakers. The virtual event also includes a virtual exposition of exhibitors, recognition of extraordinary people and organizations that are positively impacting Washington state’s affordable housing industry, and opportunities to connect and network. While attendance is free, registration is required to attend the event or view on-demand content post-event. Through a special cross-event collaboration, Housing Washington attendees can also extend their learning at the Conference on Ending Homelessness (COEH), which takes place immediately following Housing Washington on October 7-8. For details on the COEH conference visit www.wliha.org/conference. Virtual Conference Sponsors Top level sponsors contributing to Housing Washington 2021 include Hilltop Securities, JP Morgan Chase & Co., Shelter Resources Inc., U.S. Bank, Bank of America, Beacon Development Group, Enterprise/Bellwether Enterprise, R4 Capital, The Summit Group, Umpqua Bank, Wells Fargo, and ZBA Architecture, along with a host of additional sponsors, and nonprofit and governmental supporting organizations. About Housing Washington Housing Washington is Washington state’s most significant resource for affordable housing guidance, innovation, and solutions. Led by the Washington State Housing Finance Commission in partnership with the Washington State Department of Commerce and Washington Low Income Housing Alliance, the 28th annual conference is designed to enhance the skills, vision, and understanding of professionals working in affordable housing in Washington state and challenges them to work toward racial equity and social justice. www.housingwa.org. # # #

Renewed focus, increased lending activity, and deep commitment. (Originally posted on Affordable Housing Finance) The Seattle skyline on a clear autumn evening with Mount Rainier in the background. Scarcely a week goes without another news story about runaway single-family home prices in the Pacific Northwest, notably Seattle. It’s reasonable to wonder if the region’s affordable housing market deals with similar extremes. The region certainly has its challenges, as Washington state has the nation’s third-highest homeless population. But it’s good to know that affordable housing leaders in the Washington-Oregon-Idaho area are taking encouraging steps to address the area’s daunting affordable housing needs. One of those leaders is Bob Powers, executive director and Pacific Northwest market leader at JPMorgan Chase Community Development Banking. Powers has a keen understanding of the region’s challenges and opportunities. His team expects to close multiple deals this year, with the focus primarily on tax-exempt bonds. Recently, Powers shared his thoughts on the year ahead. Washington and Oregon have experienced increased project activity of late, supported by a healthy project pipeline. What is helping power this trend? It’s partly due to changes at the federal level, notably a permanent fixed 4% floor for low-income housing tax credit (LIHTC) projects, along with increased public sector funding in Washington and Oregon. Construction schedules for affordable housing were largely exempted from shutdowns a year ago, which helped sustain momentum during a tough time. What factors limit increased activity? LIHTC availability. For example, Washington state’s 4% volume cap is swamped at a 4-to-1 margin. That means projects that are otherwise fully funded can’t move forward because of the LIHTC impasse. We also face ongoing supply chain disruptions and increased material costs, which also slow deliveries. What encourages you about the year ahead? Opportunities for new or infill development are being actively pursued. For example, Seattle up-zoned 27 neighborhoods in 2019 and strengthened affordable housing requirements. There’s now more emphasis on transit-oriented development and coordinated funding with surplus public sites. In Washington state, LIHTC constraints have brought about a greater focus on the alignment of policy and funding priorities. A clearer roadmap benefits everyone. A new regional homeless housing authority also looks promising. In Oregon, voter-approved GO (general obligation) bonds were initially limited to public-owned projects. Now LIHTC projects are permitted. Combined with metro bonds and increased state funding, Oregon has resources to ramp up production. What is JPMC doing to address racial equity? We recently announced a $30 billion commitment to advance racial equity in Black and Latinx communities. Initiatives under the program include: Financing 100,000 affordable rental units over the next five years Providing $14 billion in new loans Earmarking $2 billion to help construction and rehabilitation of affordable housing for low- and moderate-income households Investing $300 million in additional financing to Community Development Financial Institutions, as well as an additional $500 million in New Markets Tax Credit investments All of us in Community Development Banking at JPMorgan Chase are privileged and humbled to assist diverse communities through this deep commitment.

A December 11, 2020 op-ed in Crosscut highlights the importance of extending WA’s eviction moratorium... "for thousands of our unhoused or housing-insecure community members, emotional fatigue is compounded by the fear of eviction." Read the op-ed, co-authored by: Rachael Myers: the executive director of the Washington Low Income Housing Alliance. Lara Wilson: an MD resident at Swedish Family Medicine Residency-First Hill. Maeve O’Leary Sloan: a Doctorate of Clinical Psychology candidate at Antioch University Seattle.

Housing Washington 2020 sponsors Chase and Enterprise Community Partners come together to discuss the need for affordable housing. Cecile Chalifour, head of community development real estate in the West region for JPMorgan Chase, and Jacqueline Waggoner, vice president Enterprise Community Partners discuss several topics, including: How the pandemic has increased the need for affordable housing. Why race-neutral housing strategies have fallen short. What JPMorgan Chase and Enterprise Community Partners are doing to combat affordable housing inequity. Read the full article.

The Washington State Housing Finance Commission is excited to announce three Friend of Housing awardees for 2020 - Maria Jacinto, the Housing Development Consortium, and Tom Jacobi. Please join in celebrating the accomplishments of these affordable-housing leaders! If you are a registered attendee of Housing Washington 2020, you may visit the Washington State Housing Finance Commission Exhibit Booth where you can share your congratulations with the winners by adding your kudos to their online cards! View the winner videos and access the link to share your congratulations.