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2007 Annual Report Forms and Instructions:
Click here for the 2007 Annual Report Form Workbook and Instructions, HUD 2007 Income Guidelines, and King County Housing Authority Utility Allowance information.
The submittal deadline for the first portion is Thursday, January 31, 2008.
The submittal deadline for the second portion is Monday, June 30, 2008.
Overview |
General Program Guidelines and Eligibility
About the Fund Sources |
Schedule of Funding Rounds
Overview
Most of King County's funds for affordable housing development and preservation are
made available through the King County 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),
federal HOME program, the County and Small Cities portion of the CDBG entitlement,
and the Regional Affordable Housing Program (RAHP).
Periodically, HFP will also offer other County fund sources targeted for a
specific special needs population. The Annual Notice Of Funds Available letter
and Request for Proposal describes, in detail, all fund sources offered during
that year's funding round.
General Program Guidelines & Eligibility
Eligible Applicants
The following types of organizations are eligible to apply for housing development funds:
- Public housing authorities
- Nonprofit organizations
- Local governments
- Community Housing Development Organizations (CHDO's)
- For-profit entities (HOF and HOME funds only)
Partnerships are encouraged among local governments, public housing authorities, other nonprofit housing developers, for-profit developers, and service providers in order to produce the greatest number of units for the most reasonable public investment, and to provide appropriate supportive services to residents with special needs.
Eligible Beneficiaries and Affordability Requirements
Projects supported by HFP funds must provide housing that is affordable to income-eligible households -generally rental housing for households up to 50 percent of median income and home ownership for households up to 80 percent of median is eligible for funding.
- Homeless families and individuals, including youth
- Low income families and seniors at risk of displacement and homelessness
- Renter households with incomes at or below 50 percent of median income
- First-time home buyer households with incomes at or below 80 percent of median income
- Special needs groups, including but not limited to:
- victims of domestic violence
- frail elderly
- people with mental illness
- people with developmental disabilities
- people with HIV/AIDS
- people with alcohol/substance abuse problems
Eligible Activities
Eligible projects must (1) increase the supply of rental housing affordable to low-income
or special needs households, (2) preserve existing affordable housing that is likely to be
lost, or (3) create home ownership opportunities for low-income first-time homebuyers.
Preservation projects are defined as existing low-income projects in imminent danger of
redevelopment or conversion or projects where health and safety hazards put households
at risk of losing their homes.
Funding is available for the following housing project types and development activities:
- emergency shelter
- transition in place and transitional housing
- permanent rental housing
- home ownership for first-time buyers
- new construction
- acquisition and rehabilitation
- site improvements
For general information about King County; housing and community development needs and priorities, please refer to the Consolidated Housing and Community Development Plan.
About the Fund Sources
The Housing Finance Program uses several sources of funds.
The Housing Opportunity Fund (HOF) was created by
King County in 1990 to enable local housing providers to
better compete for and leverage federal, state, private,
and other local funds to meet the urgent housing needs of
the County's homeless, displaced, and special needs populations.
In thirteen years, the HOF has committed approximately $34 million
to support the development of 113 projects, creating 2,754 units of
low-income housing. The King County Council adopted the following
priorities for use of the HOF:
- Preserve housing threatened by conversion or expiring low-income use restrictions; or provide permanent or transitional housing for those with special needs; or provide emergency, transitional, and permanent housing for homeless families and individuals.
- Benefit residents of King County, primarily outside of the City of Seattle.
- Link the provision of low-income housing with necessary human services, consistent with service system strategic plans.
- Produce the greatest number of units at a competitive per-unit cost for the longest benefit to eligible residents.
- If located within a city, include a financial contribution from that city to demonstrate support.
The Home Investment Partnerships Program (HOME), a source of housing development funds created under Title 11 of the National Affordable Housing Act of 1990, became available in 1992. HOME funds are administered by King County in cooperation with HOME Consortium member cities. The purpose of HOME is to expand the supply of permanent affordable housing for low and very low-income families and individuals. Over the last six years, approximately $8.3 million in HOME funds have supported development of 686 units of permanent low-income housing. The HOME Consortium has adopted the following priorities for use of HOME funds:
- Develop permanent rental housing for low- and very low-income households (60% of median and below) or create first-time homebuyer opportunities for households below 80% of median income.
- Reflect innovative partnerships between non-profit housing sponsors, and private developers, other non-profit housing developers, public housing authorities, or for-profit financial partners.
- Utilize the Community Development Housing Organization (CHDO) set aside.
- Include local match contributions (non-federal funds) which help address federal match requirements defined in the HOME guidelines.
County and Small Cities Community Development Block Grant (CDBG) are federal funds intended to serve households whose needs are most pronounced. Over the last five years, King County has used approximately $3.7 million in CDBG funds in support of construction and preservation of low-income housing. The priorities for use of these funds are:
- Increase the supply of transitional housing for homeless families, single adults, youth, and people with special needs.
- Develop permanent rental housing opportunities for low-and very low income households and individuals.
- Create first-time homebuyer opportunities for households below 80% of median income.
- For projects serving homeless or special needs populations, demonstrate effective linkages to other types of housing services that residents may need, and demonstrate operating support.
- For projects located within consortium cities, demonstrate local financial support.
Regional Affordable Housing Program (RAHP) In 2002, the Washington State Legislature
established a fund for low income housing with a document recording fee. The law directs
the local portion of HB2060 funds to be administered pursuant to a cooperative agreement
between a county and the cities and towns within a county. King County has met with
representatives of cities and towns and has executed signed agreements to create the
Regional Affordable Housing Program, a flexible funding source to address regional
and subregional housing. Eligible activities include:
- Permanent housing
- Transition in place and transitional housing
- Emergency shelters
- Acquisition (land acquisition and building acquisition)
- Construction (both new and rehabilitation)
- Capitalized maintenance reserves for projects that include construction activities
Eligible beneficiaries include all households with incomes below 50% of the area median income including: families, individuals, people with disabilities and other special needs populations.
RAHP: A project that is eligible for any HFP fund source
(Housing Opportunity Fund (HOF), HOME or CDBG) is also eligible for RAHP.
Schedule of Funding Rounds
HFP funds are typically awarded through one competitive funding round each year, with notification of funds available in August, applications due in early September, and awards announced in December.
For more information about HFP or to receive a notice of fund availability, contact John deChadenedes.
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