SHA Negotiates Exit From HomeWorks Partnerships
Seattle Housing AuthorityLocal Housing Authority · Seattle, WA- Disclosed value
- $1,000,000 exit taxes for homeWorks phase two and $24,114.00 for homeWorks phase three; just over $2,000,000 placed into recapture escrow reserve
- From minutes
- Document date
- Oct 10, 2022
The 30-second brief
Seattle Housing Authority briefed the Board on a negotiated exit from three homeWorks tax credit partnerships with Boston Financial, including payment of exit taxes for phases two and three and funding of a recapture reserve escrow exceeding $2 million. The agreement will transfer Boston Financial’s limited partner interests to SHA and its affiliate, enabling SHA to dissolve the partnerships, regain tax exemptions, and fully own the rehabilitated public housing buildings.
Boston Financial holds this financial services contract with Seattle Housing Authority. Its other public contracts on record include work for Housing Authority of the county of Howard and Ohio Housing Finance Agency.
Term as filed: Exit and dissolution of three tax credit partnerships formed in 2005, 2006, and 2007; recapture reserve to be funded end of 2022 with releases by January 15, 2023 and January 15, 2024.
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Contract details
- Contract type
- Financial Services
- Amount
- $1,000,000 exit taxes for homeWorks phase two and $24,114.00 for homeWorks phase three; just over $2,000,000 placed into recapture escrow reserve
- Document date
- October 10, 2022
- Term
- Exit and dissolution of three tax credit partnerships formed in 2005, 2006, and 2007; recapture reserve to be funded end of 2022 with releases by January 15, 2023 and January 15, 2024
- Vendor
- Boston Financial
- Source document
- seattle-housing-authority-board-briefing-2023-budget-homeworks-exit-oct-10-2022_22a.md (Minutes)
Boston Financial's other public contracts
More Seattle Housing Authority contracts
Questions about this contract
Who was awarded the financial services contract by Seattle Housing Authority?
Boston Financial was awarded this financial services contract by Seattle Housing Authority, as recorded on October 10, 2022. The contract value is $1,000,000 exit taxes for homeWorks phase two and $24,114.00 for homeWorks phase three; just over $2,000,000 placed into recapture escrow reserve.
How much is the Boston Financial contract with Seattle Housing Authority worth?
The Boston Financial contract with Seattle Housing Authority is valued at $1,000,000 exit taxes for homeWorks phase two and $24,114.00 for homeWorks phase three; just over $2,000,000 placed into recapture escrow reserve, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a minutes record.
Where was this contract approved?
This contract appears in seattle-housing-authority-board-briefing-2023-budget-homeworks-exit-oct-10-2022_22a.md (Minutes), dated October 10, 2022 from Seattle Housing Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Boston Financial hold?
Boston Financial may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Seattle Housing Authority currently buying?
Explore Seattle Housing Authority's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.