Rainbow Terrace tax credit increase
Washington State Housing Finance CommissionWashington- Detected
- Oct 15, 2026
- 23 days ago
- Sector
- Grants
- Est. value
- Free account
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From the meeting
Resolution 26-100 approved a $219,104 increase in 9% low-income housing tax credits for Housing Hope-EUCC (Rainbow Terrace). The allocation moved from $1,824,058 to $2,043,162 for the project at 2624 Rockefeller Avenue in Everett. Staff said the project faced budget pressure from reduced project-based vouchers, construction cost increases, Build America, Buy America requirements, and inflation.
The additional credit was needed to keep the project moving.
- Meeting date
- October 15, 2026
- Agency
- Washington State Housing Finance Commission
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