FINAL BILL REPORT

                 SHB 2189

                         C 383 L 97

Synopsis as Enacted

Brief Description:  Creating a task force to study alternative financing techniques for the development and renovation of low‑income senior housing development.

Sponsors:  By House Committee on Trade & Economic Development (originally sponsored by  Representatives McDonald, Van Luven, Veloria and Cooke).

House Committee on Trade & Economic Development

Senate Committee on Financial Institutions, Insurance & Housing

Background:  In the 1960s, several federal programs were created to assist in the development or preservation of housing for seniors or persons with disabilities.  These programs either provided direct funds or mortgage insurance to finance the construction or renovation of rental housing.  Many of these developments are now in need of renovation or repairs, including upgraded kitchen units, installation of sprinkler or fire suppression systems, new electrical and plumbing work, new elevators, and upgraded water and sewer systems.  Reductions in federal funding have limited efforts to finance these improvements.

Summary:  The Task Force on Financing Senior Housing and Housing for Persons with Disabilities is created.  The task force consists of 13 members with representation from public and private sector organizations involved in the provision of senior housing and housing for persons with disabilities.  The task force members include: (1) the director of the Department of Community, Trade and Economic Development; (2) the executive director of the Washington State Investment Board; (3) the executive director of the Washington State Housing Finance Commission; (4) four representatives from organizations involved in the management of senior housing developments, one representing owners of senior housing developments; (5) three  representatives from financial institutions, one representing an investment and banking firm involved in financing federally insured senior housing developments; (6) one representative of a mobile home owners' association that represents seniors;  (7) one representative of a mobile home park owners' association and (8) one representative from a public housing authority.  The director of the Department of Community, Trade, and Economic Development must appoint the members of the task force and is the chair of the task force.

The task force is authorized to: (1) review financing needs of low income senior housing and housing for persons with disabilities; (2) review existing federal and state programs and incentives for the construction or renovation of senior housing and housing for persons with disabilities; (3) review programs and techniques in other states and countries for the construction or renovation of senior housing and housing for persons with disabilities; and (4) make recommendations on possible state financing techniques to assist in the construction or renovation of senior housing and housing for persons with disabilities. The task force must prepare and submit a report to the Senate Committee on Financial Institutions and Housing and the House of Representatives Committee on Trade and Economic Development with its finding and recommendations by December 15, 1997.

The Department of Community, Trade and Economic Development, the Washington State Investment Board, and the Washington State Housing Finance Commission must provide administrative and clerical assistance to the task force.  The task force expires February 1, 1998.

Votes on Final Passage:

House  96 0

Senate 42 0 (Senate amended)

House  98 0 (House concurred)

Effective:July 27,  1997