State Awards More Than $32 Million for Affordable Housing Projects
OLYMPIA, WA- The Washington State Department of Community, Trade and Economic Development (CTED) has awarded more than $32 million for 25 multifamily affordable housing projects in 12 Washington counties. A total of 1,084 housing units and 27 beds in facilities serving vulnerable populations will be created in Snohomish, King, Whitman, Jefferson, Pierce, Thurston, Walla Walla, Spokane, Kitsap, Okanogan, Clallam and Stevens counties.
A broad range of projects are being funded including projects serving seniors, physically and developmentally disabled persons, homeless families with children, survivors of domestic violence and low-income households in general. All of the projects are providing affordable rental opportunities to households at or below 80% of the area median income.
“I am very aware of the need for more affordable housing,” Gov. Chris Gregoire said. “Washingtonians need stable, affordable places to live in order to have access to work, education and health care. I am so pleased to see the money set aside for the Housing Trust Fund to accomplish what it was meant to do, and that is to help communities meet the housing needs of our most vulnerable citizens.”
“Support for affordable housing is an essential building block for economic growth and prosperity in every community,” CTED Director Juli Wilkerson said.
Funds were awarded from the state Housing Trust Fund as a part of its Spring 2008 funding round. The Housing Trust Fund supports community efforts to ensure the availability of safe, decent and affordable housing by providing loans and grants for construction, acquisition and rehabilitation of low-income multi-family and single-family housing. Since 1989, the Housing Trust Fund has increased or improved the stock of affordable housing in Washington by more than 32,000 units and has invested more than $500 million in new and improved housing, leveraging more than $2 billion in private and public sector support. Due to an increase in the supplemental budget, the Housing Trust Fund was able to fund an additional $11 million in projects this round, providing for an estimated 377 extra units.
The Legislature also approved an additional $10 million targeted toward counties affected by last winter’s floods. These Housing Trust Fund awards will be provided this fall to non-profit organizations and housing authorities, with priority on projects to create new multi-family units serving households with incomes below 80 percent of the county’s area median income. Grant applications for this special funding open soon.
CTED is the lead state agency charged with enhancing and promoting sustainable housing and economic vitality in Washington State. For more information, please visit www.cted.wa.gov.
