The department shall carry out the following duties:
(1) Administer the program;
(2) Identify organizations eligible to receive funds to implement the program;
(3) Develop and adopt the necessary rules and procedures for implementation of the program and for dispersal [disbursal] of program funds to eligible organizations;
(4) Establish the interest rate for repayment of loans at two percent below the market rate;
(5) Work with lending institutions and social service providers in the eligible communities to assure that all eligible persons are informed about the program;
(6) Utilize federal and state programs that complement or facilitate carrying out the program;
(7) Ensure that local eligible organizations that dissolve or become ineligible assign their program funds, rights to loan repayments, and loan security instruments, to the government of the county in which the local organization is located. If the county government accepts the program assets described in this subsection, it shall act as a local eligible organization under the provisions of RCW *
43.63A.600 through
43.63A.640. If the county government declines to participate, the program assets shall revert to the department.