The housing projects are targeted toward providing homes for low-income families in "Communities of Concern" and for homeless veterans. To be eligible to apply for the new housing, individuals and families must meet income guidelines. Priority will be given to those whose household incomes are at or below 30% of the Area Median Income (AMI). The homeless and those with incomes up to 80% of AMI are also eligible.
The state will use the money to fund construction costs but will also utilize money from other sources that totals around $13.3 million, such as Low Income Housing Tax Credits, private investors, and other sources, to complete the housing projects. The building initiative will not only provide needed homes for the Washington counties but also create up to 122 new jobs.
The Washington State Housing Trust Fund supports projects in the community that provide safe, affordable housing and rehabilitation of existing housing for low-income families. Projects include both single-family and multi-family housing units. The fund was established in 1989 and has been instrumental in the construction of more than 38,000 units in Washington with investments of $900 million as well as $2 billion in support from both private and public donors.
For more information, visit www.commerce.wa.gov/site/935/default.aspx
