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Regional Housing Council backs France Anderson unit-mix change to shore up financing
Summary
The Thurston County Regional Housing Council approved a letter supporting a developerrequest to change the France Anderson unit mix so the project can secure tax-credit equity and continue moving toward construction. Members pressed for operational details and said accountability language will be handled in subsequent contracts and interlocal agreements.
The Thurston County Regional Housing Council voted March 25 to send a letter to the Washington State Department of Commerce and the Washington State Housing Finance Commission indicating local support for a proposed unit-mix change at the France Anderson housing project.
Kalissa Eversman, project manager with the Low-Income Housing Institute, told the council the project was originally proposed as 70 permanent supportive-housing units at 30% of area median income. She said the tax-credit market and a shortfall in operational subsidy led the developer to seek an amendment that would make 35 units available up to 50% AMI and retain 35 units at 30% AMI. “The landscape and the tax credit market has changed,” Eversman said, explaining that investors are currently reluctant to finance 100% supportive-housing projects because of higher long-term operating subsidies.
Tom Webster, staff presenting the agenda item, said the letter is intended to let state funders know local jurisdictions remain interested so the Department of Commerce and the state Housing Finance Commission can consider amending their awards. He said the finance commission has asked for reassurance that projects with 2024 tax-credit awards will break ground by the end of the year. Justinda Stes of the City of Olympia added that changes to the unit mix would also require amending local sale and interlocal agreements if financing closes.
Some council members said they supported the project but asked for more operational detail before expressing full confidence. Councilmember Nick Dunny urged caution, saying he was “nervous” about approving broad support while questions from written and spoken public comments remain unanswered. Commissioner Emily Klaus said the council should explore performance-based monitoring practices used at other local projects and said those accountability terms could be inserted in the purchase-and-sale or interlocal documents.
Council members and staff described the letter as narrowly focused: it indicates local support for the requested unit-mix change so the state can amend contracts if it chooses, while any further monitoring or contract changes would be negotiated later. The council approved the letter by unanimous voice/eyes vote.
Next steps include state review of the amendment request and formal updates to the interlocal agreement and the City of Olympiasale documents if financing proceeds.
