2012 Revised Code of Washington
Title 43 - STATE GOVERNMENT — EXECUTIVE
43.185A Affordable housing program.
43.185A.030 Activities eligible for assistance.

RCW 43.185A.030 Activities eligible for assistance.

     *** CHANGE IN 2013 *** (SEE 1617-S.SL) ***

(1) Using moneys specifically appropriated for such purpose, the department shall finance in whole or in part projects that will provide housing for low-income households.

     (2) Activities eligible for assistance include, but are not limited to:

     (a) New construction, rehabilitation, or acquisition of housing for low-income households;

     (b) Rent subsidies in new construction or rehabilitated multifamily units;

     (c) Down payment or closing costs assistance for first-time home buyers;

     (d) Mortgage subsidies for new construction or rehabilitation of eligible multifamily units; and

     (e) Mortgage insurance guarantee or payments for eligible projects.

     (3) Legislative appropriations from capital bond proceeds may be used only for the costs of projects authorized under subsection (2) (a), (c), (d), and (e) of this section, and not for the administrative costs of the department.

     (4) Moneys from repayment of loans from appropriations from capital bond proceeds may be used for all activities necessary for the proper functioning of the affordable housing program except for activities authorized under subsection (2)(b) of this section.

     (5) Administrative costs of the department shall not exceed four percent of the annual funds available for the affordable housing program, except during the 2011-2013 fiscal biennium when administrative costs associated with housing trust fund application, distribution, and project development activities may not exceed three percent of the annual funds available for the housing assistance program; administrative costs associated with compliance and monitoring activities of the department may not exceed one quarter of one percent annually of the contracted amount of state investment in the housing assistance program; and reappropriations may not be included in the calculation of the annual funds available for determining the administrative costs.

[2011 1st sp.s. c 50 § 954. Prior: 2005 c 518 § 1803; 2005 c 219 § 3; 1994 c 160 § 3; 1991 c 356 § 12.]

Notes:

Effective dates -- 2011 1st sp.s. c 50: See note following RCW 15.76.115.      Severability -- Effective date--2005 c 518: See notes following RCW 28A.500.030.