County helps secure funds for affordable housing

More than $2.4 million in low-interest loans for up to 130 new affordablehousing units is available from the state’s Housing Trust Fund through Senior Services of Snohomish County.

Snohomish County has become increasingly successful in finding funding to assist a wide range of agencies that are building or buying affordable housing units within its region. For example, a $120,000 award to Senior Services of Snohomish County was used as leverage to acquire this $2.4 million loan from the state.

“Increasing affordable housing in Snohomish County is extremely important for our residents, especially during these difficult economic times,” said Aaron Reardon, Snohomish County Executive.

“Housing provides security and stability that seniors and low-income families deserve.”

Earlier this year, Senior Services of Snohomish County requested the opportunity to combine four projects into a single portfolio. This request was supported by Snohomish County to provide economy of scale. Subsequently, the state rated the project more favorably, partially based on the county’s support and seed money.

Snohomish County’s Human Services Department works closely with housing agencies to provide housing in Snohomish County. The county helped secure more than $2.7 million in state funding last spring and now this $2.4 million for senior services.

The state Department of Commerce awarded more than $22 million to seven counties as part of their Housing Trust Fund (HTF) to support affordable housing capital projects in the state.

State funding sources, however, have become scarcer and more competitive in recent years.

“As state funding continues to decline, it is increasingly important that we provide that seed money to support local projects within the county,” said Ken Stark, director of Snohomish County Human Services.

“We’ve shown that a little bit of county funding can be the difference between garnering state and federal funds.”

For information call supervisor of the county’s Office of Housing, Homelessness & Community Development, Dean Weitenhagen, at 425-388-3267.