State’s affordable housing fund could boost Clark County developments

Clark County lacks affordable housing, but recent statewide funding up for grabs may offer a helping hand.

The Washington State Department of Commerce recently opened its applications for projects seeking capital to develop affordable housing across the state. Funds are available to local governments, nonprofits, tribal governments, and housing authorities.

The awarded agencies’ plans must align with the state’s 2023-25 Biennial Investment Strategy.

“Stable housing is the foundation for self-sufficiency,” said Commerce Director Mike Fong in a news release. “These historic investments are crucial to tackling a decadeslong deficit in housing that is affordable and available to those who need it most.”

The money streams from the Legislature’s 2023-2025 biennium budget, miscellaneous projects servicing people with disabilities and the Apple and Homes Program.

According to a recent report by the National Low Income Housing Coalition, there are 22 affordable homes per 100 low-income households in Clark County.

Last year, more than 9,000 people experienced homelessness in the county. Council for the Homeless, which presented the data, said that high housing costs are a main driver.

The $302 million funding pool is the state’s largest single funding distribution in history.

Applications for funding are open through Sept. 18. Funding announcements are expected to be made sometime in December.

An additional $12.4 million is available from federal National Housing Trust Fund and HOME program funds administered by the Department of Commerce. This funding will also support multifamily rental housing projects across the Evergreen State.