Other Funding Options
ARCH works with providers to develop a viable proposal, and coordinates efforts with other funders to meet the proposal's funding needs. The Public Funders Group, which ARCH is a member, attempts to better coordinate public funders, applications and procedures. One example of this cooperation is a single funding application used by ARCH, King County, Washington State, and other local funders. Consolidating the application requirement reduces administration time and costs for providers.
ARCH is an important part of a provider's funding package. Affordable housing providers are often able to leverage ARCH funding assistance where other competitive funding sources gives greater consideration to proposals with local funding. The following graph shows the total funding dollars awarded to affordable housing projects in comparison to the local ARCH funds these projects received.
COMMUNITY FunderS
Funders listed below have all been ARCH funding partners on local projects. This list will give you with an idea of the wide range of sources that work together to provide the East King County community with affordable housing. Also, see the Community Partners.
HUD Section 8 Programs
Federal HUD housing assistance program administered by the King County Housing Authority (KCHA). Although many Section 8 programs directly assist tenants, such as Section 8 Housing Vouchers, other Section 8 programs such as project based vouchers and HOPE VI provide project affordability.
Federal Low Income Housing Tax Credit Program
Administered by the Washington State Housing Finance Commission. Federal tax incentive to encourage the production of low-income housing. Housing tax credits offer a dollar-for-dollar reduction in tax liability to property owners and investors who agree to provide low-income housing for up to 40 years. Tax credits are now the primary vehicle for low-income housing construction and rehabilitation in the U.S.
Federal Tax-Exempt Bond Financing
The Washington State Housing Finance Commission partners with the lending community to provide non-profits with below market interest rates.
State Housing Trust Fund
Administered by the Washington State Department of Commerce's Housing Services Division. Grant funding for the development and rehabilitation of rental and homeownership opportunities for people with incomes at 80 percent of median income or less.
Federal Home Loan Bank of Seattle Affordable Housing Program
Grants to financial institutions to invest in housing initiatives serving households with incomes at or below 80 percent of the area median income. Grants can be used to lower the interest rate on a loan; reduce mortgage principal; fund rehabilitation and new construction; and cover down payment and closing costs.
HUD Community Development Block Grants
(CDBG)
Administered by King County Housing and Community Development on behalf of the CDBG Consortium. Public housing authorities, nonprofit organizations and local governments are eligible to apply for CDBG funds for projects benefiting low and moderate income households.
King County Housing Finance Program -Housing Opportunity Funds (HOF), HOME, and CDBG Programs
Funding for affordable housing development administered by King County Housing and Community Development through its Housing Finance Program (HFP). HFP provides capital funds for acquisition, rehabilitation, site improvements, new construction, and other costs related to housing development. Projects are selected through a competitive application process. The HFP includes funds from King County's local Housing Opportunity Fund (HOF), as well as the federal HOME program and the County and Small Cities portion of the CDBG entitlement.
United Way of King County Out of the Rain Initiative
Initiative program to aid non-profit organizations support the employment of individuals working to move out of homelessness.
King County HCD Homelessness Assistance & Continuum of Care Planning Administered by King County Housing and Community Development. Programs include McKinney Supportive Housing, Transitional Housing Operating and Rental Assistance (THOR), and Shelter Plus Care.
Federal Housing Opportunities for People with AIDS (HOPWA)
Administered by the Washington State Office of Community Trade & Economic Development (CTED) Housing Services Division. HOPWA provides grant funds to community organizations to design long-term comprehensive strategies for meeting the housing needs of low-income people disabled by and living with AIDS.
Emergency Shelter Grants Program
Administered by the Washington State Office of Community Trade & Economic Development (CTED) Housing Services Division. Grant funding available to nonprofit organizations, housing authorities, and local governments in non-entitlement communities to help with the operating and repair costs of emergency shelters, to provide case management services and homelessness prevention activities.
