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Council to hold work session on 14-06 affordable-housing funds; Treasurer offers loan options
Summary
Staff outlined options for the county’s annual 14-06 affordable housing revenue (about $800,000/year) and council asked for a dedicated work session with the treasurer and housing providers to explore loans, multi-year commitments, and other strategies.
County staff briefed the council on the limited annual revenue the county receives under Washington’s HB 1406 revenue-sharing program and presented options for using the roughly $800,000-per-year allocation to support affordable housing.
Jordan Bogie summarized funding options and said bonding against the revenue stream would be difficult because the 1406 remittance is a sunset revenue with about 14 years remaining. He told the council that…
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