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Council approves $440,600 from ARCH trust fund to support regional affordable-housing projects
Summary
Mercer Island authorized $440,600 to ARCH's East King County housing trust fund for a set of projects ARCH recommended; ARCH said awards will help create or preserve over 500 units across five cities and explained grant vs contingent-loan tradeoffs.
The Mercer Island City Council approved the use of $440,600 from the city's contributions to the ARCH East King County Housing Trust Fund on Feb. 3, authorizing the city manager to execute related agreements.
ARCH presentation and scope: Lindsey Masters, executive director of ARCH, and Jeff Thomas, Mercer Island's CPD director, presented an overview of ARCH's funding round and its recommendation to support several projects across East King County. Masters said ARCH received a record number of applications and that the…
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