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Beaux Arts
Village - Bellevue - Bothell - Clyde Hill - Hunts Point - Issaquah -
Kenmore - King County
Kirkland - Medina - Mercer Island - Newcastle - Redmond
- Sammamish - Woodinville - Yarrow Point
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Community Funders
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"Transforming
a vision of affordable housing for the eastside into reality within
Woodinville is extremely rewarding and satisfying.
Greenbrier's success stems from several governmental, non-profit and
private agencies working collaboratively to see the project through
from beginning to end." Woodinville Mayor Scott
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Community Funders Affordable
housing providers, such as the many agencies highlighted on our 'Community
Partners' page, are usually only able to provide housing affordable
to low-income families if they are awarded loans and grants from multiple
public and non-profit funders. Timing can be a complex endeavor as
funding availability must be coordinated with development timelines. In
addition, competition is high for housing funds as needs have historically
outpaced available resources.
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funders ARCH works with
providers to develop a viable proposal, and coordinates efforts with other
funders to meet the proposal's funding needs. The Public Funders
Group, which ARCH is a member, attempts to better coordinate public
funders, applications and procedures. One example of this cooperation is a single funding
application used by ARCH, King County, Washington State, and other local funders.
Consolidating the application requirement reduces administration time and
costs for providers. ARCH is an important part of a provider's
funding package. Affordable housing providers are often able to leverage
ARCH funding assistance where other competitive
funding sources gives greater
consideration to proposals with local funding. The following graph
shows the total funding dollars awarded to affordable housing projects in
comparison to the local ARCH funds these projects received. |
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Community
Funders listed below have all
been ARCH funding partners on local projects. This list will give
you with an idea of the wide range of sources that work together to
provide the Eastside community with affordable housing. |
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HUD Section 8 Programs
Federal HUD housing assistance
program administered by the King County
Housing Authority (KCHA). Although many Section 8 programs directly assist
tenants, such as Section 8 Housing Vouchers, other Section 8 programs such
as project based vouchers and HOPE VI provide project affordability.
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Federal Low Income
Housing Tax Credit Program
Administered
by the Washington State Housing Finance Commission. Federal tax
incentive to encourage the production of low-income housing. Housing
tax credits offer a dollar-for-dollar reduction in tax liability to
property owners and investors who agree to provide low-income housing for
up to 40 years. Tax credits are now the primary vehicle for low-income
housing construction and rehabilitation in the U.S.
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"Housing is
a basic need and has an impact on education, transportation, jobs,
crime rates and the environment. Affordable housing and
nonprofit facilities bring together economically diverse 'whole
communities,' and are key to building livable neighborhoods and a
strong state." Washington State Housing Finance
Commission Strategic Plan |
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Federal Tax-Exempt Bond
Financing
The
Washington State Housing Finance Commission partners with the lending
community to provide non-profits with below market interest
rates.
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State Housing Trust Fund
Administered by the Washington State
Office of Community Trade & Economic Development (CTED) Housing
Services Division. Grant
funding for the
development and rehabilitation of rental
and homeownership opportunities for people with incomes at 80 percent of
median income or less.
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Federal Home Loan Bank of
Seattle Affordable Housing Program
Grants
to financial institutions to invest in housing initiatives serving
households with incomes at or below 80 percent of the area median
income. Grants
can be used to lower the interest rate on a loan; reduce mortgage
principal; fund rehabilitation and new construction; and cover down
payment and closing costs.
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Federal Home Loan Bank of
Seattle Challenge Fund
Challenge
Funds are used to cover predevelopment expenses of affordable housing
initiatives.
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HUD Community Development
Block Grants
(CDBG)
Administered
by King County Housing and Community Development on behalf of the CDBG
Consortium. Public housing authorities, nonprofit organizations and
local governments are eligible to apply for CDBG funds for projects
benefiting low and moderate income households.
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King County Housing
Finance Program -
Housing
Opportunity Funds (HOF), HOME, and CDBG Programs
Funding
for affordable housing development administered by King County Housing and
Community Development through its Housing Finance Program (HFP). HFP
provides capital funds for acquisition, rehabilitation, site improvements,
new construction, and other costs related to housing development. Projects
are selected through a competitive application process. The HFP includes
funds from King County's local Housing Opportunity Fund (HOF), as well as
the federal HOME program and the County and Small Cities portion of the
CDBG entitlement.
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Regional Affordable Housing
Program (SHB 2060) Affordable
housing funding created through a document recording fee. Program
locally administered by King County Housing and Community Development
through its Housing Finance Program (HFP). Eligible projects include
emergency shelters, permanent and transitional housing serving households
earning 50% or less of County median income.
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Sound Families
Grant
funding to assist in developing transitional housing and support services
for homeless families. Provides up to 20% of capital costs and up to
$1,500 per unit per year service costs for the first 5 years of project
operations.
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United Way of King County
Out of the Rain Initiative
Initiative
program to aid non-profit organizations support the employment of
individuals working to move out of homelessness.
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King
County HCD Homelessness Assistance & Continuum of Care Planning
Administered
by King County Housing and Community Development.
Programs include McKinney Supportive Housing, Transitional Housing
Operating and Rental Assistance (THOR), and Shelter Plus Care.
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Federal Housing
Opportunities for People with AIDS (HOPWA)
Administered
by the Washington State Office of Community Trade & Economic Development
(CTED) Housing Services Division. HOPWA
provides grant funds to community organizations to design long-term
comprehensive strategies for meeting the housing needs of low-income
people disabled by and living with AIDS.
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Emergency Shelter Grants
Program
Administered by the
Washington State Office of Community Trade & Economic Development (CTED)
Housing Services Division. Grant
funding available to nonprofit organizations, housing authorities, and
local governments in non-entitlement communities to help with the
operating and repair costs of emergency shelters, to provide case
management services and homelessness prevention activities.
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