The Department of Commerce (Commerce) recently announced two new funding opportunities that cities may want to explore with their community partners. Both opportunities have deadlines in January 2023.
Homeownership projects
A homeownership grant round has recently opened for homeownership projects that plan to seek capital funding in the 2022 competitive funding cycle.
Applications may be submitted for down payment assistance, revolving loan fund (RLF) capitalization grants, self-help projects, short-term production loans, and developer subsidies for long-term or permanent affordable resale restricted programs (such
as Community Land Trusts or deed restricted programs), and any other Housing Trust Fund eligible project types.
Please download and read the 2022 Notice of Funding Availability and application materials for complete details.
Rapid capital housing acquisition
A second round of rapid acquisition funding for acquiring housing for individuals experiencing or at risk of homelessness. This program provides funding to acquire real property for rapid conversion into enhanced emergency shelters, permanent supportive housing, transitional housing, permanent housing, youth housing or shelter for people with extremely low incomes and people experiencing sheltered and unsheltered homelessness in Washington state. The program helps organizations acquire properties capable of swiftly housing people with minimal updates and evidence of local support.
Over $84.7 million is available in this round and will be distributed by region:
Region | Funding available |
|---|
Great rivers | $7,900,000 |
Greater Columbia | $6,554,319 |
King | $776,675 |
North Central | $3,500,000 |
North Sound | $18,375,299 |
Pierce | |
Salish | $6,300,000 |
Southwest | |
Spokane | $14,000,000 |
Thurston-Mason | $7,900,000 |
Rural set-aside (in statute) | $19,400,000 |
Total | $84,706,293 |
The 2022 Rapid Capital Housing Acquisition Phase II NOFA (#MHU-2022-06) identifies specific funding requirements and priorities, the process for applying, and important deadlines.
Additional resources for both funding opportunities are available on Commerce’s Housing Trust Fund website. For questions, contact
htfapp@commerce.wa.gov.