Brief Description: Adding a rental housing owner to the affordable housing advisory board.

Sponsors: Senators Benton, Prentice, Winsley, Zarelli, Johnson, T. Sheldon, Kohl-Welles, Hale, Roach and Esser.

Hearing Date: 3/20/03

Staff: Tracey Taylor (786-7196).

Background:

The Affordable Housing Program was created in the Department of Community, Trade, and Economic Development in 1991. The purpose of the program is the provide either loans or grants or both to local governments, public housing authorities, and nonprofit organizations to increase the availability and affordability of housing for households with incomes below 80 percent of the county median income.

The activities that are eligible for assistance through the Affordable Housing Program include, but are not limited to: (1) new construction, rehabilitation, or acquisition of housing; (2) rent subsidies in new construction or rehabilitated multifamily units; (3) down payment or closing costs assistance for first-time home buyers; (4) mortgage subsidies for new construction or rehabilitation of eligible multifamily units; and (5) mortgage insurance guarantee or payments for eligible projects.

Currently there are 21 members of the Affordable Housing Advisory Board. Eighteen members are appointed by the Governor, including representatives of the residential construction industry, the mortgage lending profession, the real estate sales profession, the apartment management and operations industry, the for-profit housing development industry, the nonprofit housing development industry, the homeless shelter operators, lower-income persons, special needs populations, the public housing authorities, and the Washington Association of Counties.

Summary of Bill:

A representative of the for-profit rental housing owners is added to the Affordable Housing Advisory Board, increasing the total number of members of the Board to 22. This representative will be appointed by the Governor.

Appropriation: None.

Fiscal Note: Not Requested.

Effective Date: The bill takes effect 90 days after adjournment of session in which bill is passed.