South King Housing and Homelessness Partners (SKHHP), an agency created by Auburn, Kent, Federal Way and seven other South King County cities, recently unveiled its Housing Capital Fund.
The fund created by the member cities will go toward creating and preserving affordable housing for low- and moderate-income households in South King County. Around $1.5 million will be available in 2022.
This comes at a time when more and more people are struggling to find affordable housing in South King County.
Money from the fund will go to different affordable housing projects in South King County. The funds can be used for things like acquisitions, construction or rehabilitation and site development of affordable housing.
Applications for funding are open from now until Sept. 15, 2022. SKHHP is prioritizing funding for projects that meet certain criteria such as racial equity, community connections and transit-oriented development, according to the Housing Capital Fund.
All of the projects funded by the Housing Capital Fund have to benefit people who are low-income, which SKHHP defines as earning 60% of the area median income. For a single person, 60% of the area median income is $54,360, and for a family of four, it’s a household income of $77,640.
Organizations both not-for-profit and for-profit, as well as public housing and development authorities and local governments, are eligible for funds, according to SKHHP.
You can learn more about SKHHP’s Housing Capital Fund at SKHHP.org