In a recent government meeting, Anne Campbell, managing director of the homeownership unit, provided a comprehensive update on the funding initiatives aimed at increasing homeownership across the state. As the first year of the biennium concludes, Campbell reported that the homeownership unit has managed a substantial capital budget of $68 million, which includes competitive funding and direct appropriations.

Approximately $40 million of the competitive funding has already been committed, resulting in support for around 590 new homeowners. This includes 470 new homeowners funded through a competitive process and an additional 120 from direct appropriations. Notably, $21 million has been allocated to assist manufactured home communities, enabling seven communities to purchase their properties, benefiting 345 households with the opportunity for resident ownership.

Campbell highlighted significant projects, including the Martin Luther King Way project in King County and a collaboration with Tacoma Habitat for Humanity to facilitate home purchases for income-eligible households. The unit still has over $17 million in competitive funding and nearly $10 million for manufactured home initiatives to distribute in the upcoming year.

Additionally, the homeownership unit is collaborating with the Housing Finance Commission to establish the first covenant homeownership program in the U.S., aimed at providing technical assistance and administrative support. The meeting also addressed the challenges faced by foreclosure fairness programs, which are experiencing increased demand as COVID-related moratoriums lift.

A key highlight was the announcement of the Preservation and Reinvestment Initiative for Community Enhancement, a federal grant program offering up to $85 million for the preservation and enhancement of manufactured home communities. The homeownership unit is working with various organizations to submit project proposals by July 10, with hopes of receiving funding announcements by October.

Overall, the meeting underscored the government's commitment to expanding homeownership opportunities and addressing the needs of manufactured home communities, with a focus on sustainable and equitable housing solutions.