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King County awards $10.6 million to affordable housing development countywide
Creating housing for veterans, homeless families and others in need, King County Executive Dow Constantine today announced approximately $10.6 million in awards for affordable housing development across the county.
"This funding will boost to the local economy and create construction jobs, while providing safe and affordable housing that will help hundreds of people who have been hit hard by the recession," said Constantine, who also serves as co-chair of the Committee to End Homelessness in King County Governing Board.
Capital dollars of approximately $10.6 million were awarded to local housing projects to create and preserve approximately 607 units of affordable rental housing. Of these, about 412 new units of rental housing and up to 11 new affordable ownership opportunities will be created. Of the new rental units, about 220 will house people who are homeless, chronically homeless or at risk of homelessness, including about 45 units set aside for homeless veterans and their families.
Awards also were granted to three previously funded projects that requested additional funding to achieve or make progress towards completion. These amendment awards represent 184 units of affordable housing.
In addition to helping low-income and homeless households, the production of affordable housing also helps the local economy. According to the National Association of Home Builders, every 100 units of multifamily housing developed generates approximately 116 jobs.
Projects awarded funding participated in a competitive request for proposal (RFP) processes conducted in summer/fall 2011. The awards respond to the most acute needs in the region, including homeless households, while also addressing other pressing needs for affordable housing throughout the county's sub-regions.
Funding for the affordable housing capital RFP comes from a variety of federal and local sources. Local fund sources include the voter-approved Veterans and Human Services Levy; the Regional Affordable Housing Program, funded by a state-authorized surcharge on document recording fees; 2331 Homeless Housing Act revenues, funded from another state-authorized surcharge on document recording fees specifically for the implementation of plans to end homelessness; and other local sources, including Housing Innovations for Persons with Developmental Disabilities funds and proceeds from the Mental Illness and Drug Dependency dedicated sales tax revenues. Federal contributions for housing capital come to King County from the HOME Investment Partnerships Program.
Each year, public and private funders in King County collaborate to streamline the grant making process and join together to coordinate award decisions. Instead of asking agencies to submit multiple applications at different times during the year, King County housing development funders coordinate the timing, materials and process so that agencies can attend joint funder pre-application meetings and submit a common application for housing capital.
Fall 2011 funding round awards follows.
Affordable Housing Capital Funding Round – approximately $10.6 Million
Housing units created with these awards will be affordable to a range of households with incomes at or below 80 percent of the area's median income (AMI), with the majority of the awards supporting households below 50 percent of AMI and a significant portion of units for households at or below 30 percent of AMI. A three-person household at 50 percent of median income earns $39,100 annually; a single-person household at 50 percent of median earns $30,400. Housing for households with incomes below 50 percent of AMI represents the region's area of greatest need.
New Awards – Affordable Rental Housing Development
King County Housing Authority: Construct 86 units of affordable rental housing, to include 44 units affordable to households with incomes at or below 30 percent of AMI, 22 units for households at or below 50 percent AMI, and 20 units for households at or below 60 percent AMI. Seven units will meet State Type A fully Americans with Disabilities Act (ADA) compliant requirements for persons with a physical disability, and 25 units will be State Type B ADA compliant. Award: $2.5 million.
Catholic Housing Services: Construct 68 units to provide permanent supportive housing for homeless adults with incomes at or below 30 percent AMI. Thirty units will serve chronically homeless adults and 38 units will serve homeless adults with moderate service needs, with about eight units set aside to serve veteran households. Award: $627,263.
A Regional Coalition for Housing (ARCH)/Imagine Housing: Construct 58 units of affordable rental housing as part of a public/private partnership in conjunction with a Transit Oriented Development in Kirkland. Twenty-nine units will be affordable to households with incomes at or below 30 percent AMI, 15 units at or below 40 percent AMI and 14 units at or below 60 percent AMI, with set-asides for homeless and disabled households. Award: $710,000.
Multi Service Center: Construct 32 units of affordable rental housing for homeless or formerly homeless single veterans and veterans with families. Seventeen of the units will be affordable to households at or below 30 percent AMI, ten units at or below 50 percent AMI, and five units at or below 60 percent of AMI. Award: $1,450,000.
NAVOS: Acquisition and rehabilitation of 14 units affordable to households with incomes at or below 30 percent AMI. This project will consolidate housing for many clients who are currently living in scattered-site private market housing unit, who will benefit from being a part of NAVOS' campus structure, with approximately two units will be set aside for military veterans. Award: $1,475,000.
Downtown Emergency Services Center: Construct 75 rental units primarily for chronically homeless and vulnerable homeless households with disabilities. Approximately three units will be set aside for military veterans. Award: $538,112.
Providence Health and Services: Construct 69 units of affordable senior housing affordable to households with incomes at or below 50 percent AMI and one unit for management staff. The housing will include one-bedroom units for senior households aged 62 or older and will meet accessibility requirements. Award: $503,671.
Friends of Youth: Construct a Consolidated Interim Care Residence including at least five bedrooms to provide 10 or more beds for homeless youth ages 11 to 18. The primary goal will be family reunification, with individual, group, and family counseling services provided on-site and 24-hour staffing. Award: $228,000.
New Awards – Home Ownership Opportunities
Parkview Services: Provide down payment assistance loans for up to six first-time homebuyers who are individuals with a developmental disability or families that have at least one member who has a developmental disability, with incomes at or below 50 percent AMI. Award: $175,000.
Homestead Community Land Trust: Provide homebuyer assistance to help up to five new first-time homebuyers with incomes below 80 percent AMI. Funds will be used to provide purchase assistance loans to qualified first-time home buyers in the form of down payment and closing costs and/or first mortgage interest rate buy downs. Award: $200,000.
Amendments to Projects Previously Funded Requesting Additional Funds
Manufactured Housing Community Preservationists: Acquire and rehabilitate an existing 107-unit mobile home park, preserving permanent affordable housing for low-income homeowners. Sixty units are affordable to households with incomes at or below 50 percent of AMI, 26 units are affordable to households at or below 80 percent AMI, and the balance of units are unrestricted. Award: $1,530,000.
Low Income Housing Institute: Create a 21-unit rental housing complex as part of a previously funded 33-unit project in Kenmore with rents affordable to households with incomes at or below 60 percent AMI, with three units set aside for families transitioning out of homelessness. Award: $477,000.
Low Income Housing Institute: Construct a 56-unit apartment building to provide 28 units affordable to households at 30 percent AMI, 17 units affordable to households at 50 percent AMI and 11 units affordable to households at 60 percent AMI. Twelve of the units will be set-aside for households who are homeless or at risk of homelessness. Award: $208,232 in Housing Innovations for Persons with Developmental Disabilities funds.