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July 16, 2003
$3.46 million awarded for affordable housing
King County has awarded $3.46 million in low-income housing grants and loans to eight housing projects that will create or preserve 253 affordable housing units, King County Executive Ron Sims announced today. The housing ranges from affordable rental housing for families, individuals and people with special services needs, to transitional housing for homeless families and youth, to home ownership opportunities for first-time buyers.
“Our housing investments are among the most efficient uses of public funds,“ said Executive Sims. “These funds help our most vulnerable individuals and families secure safe, affordable housing while at the same time attracting millions of dollars of private and public funding in support of new housing development and construction jobs.”
The housing development projects are funded by the King County Housing Opportunity Fund (HOF), a local fund source using County current expense, mental health, and developmental disabilities dollars, as well as federal Home Investment Partnerships Program (HOME) and Community Development Block Grant (CDBG) funds. The awards are the first of two rounds to be awarded in 2003; the second round will be announced in September.
The HOF is managed by the Housing and Community Development Program of the Department of Community and Human Services. Ninety-eight percent of the new housing will serve households below 50 percent of King County median income. A three-person household at 50 percent of median income earns $35,050; a single person at 50 percent of median earns $27,250.
“These investments will help those with the greatest need for housing regain stability in their lives. Several projects offer extensive supportive services for the residents, including help for people with disabilities to live independently in the community,” said Ava Frisinger, Mayor of the City of Issaquah and chair of the King County Consortium’s Joint Recommendations Committee. The Joint Recommendations Committee, comprised of Suburban City and County representatives, recommended the projects for funding.
The types of housing funded include:
Affordable rental housing for families: Forty units of permanent affordable housing for low-income families will be constructed in Issaquah.
Preservation of existing affordable housing: A 66-unit apartment complex in Kirkland and an 18-unit apartment complex in Bellevue will be acquired and rehabilitated. Seven homes in Shoreline will be preserved and rehabilitated to provide 25 beds of permanent housing for developmentally disabled adults.
Housing for people with disabilities: Four units will be acquired and rehabilitated in Bellevue; two homes serving eight people with developmental disabilities will be acquired and improved for accessibility in locations still to be determined.
Home ownership opportunities: Eight homes will be constructed on Vashon Island through a self-help program where participants contribute to building their homes.
Housing for homeless veterans: Twenty-six units of transitional housing for homeless veterans will be constructed in Shoreline. Ten units of transitional housing for homeless families will be constructed in Issaquah.
2003 Housing Finance Program funded projects:
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