PREPROPOSAL STATEMENT OF INQUIRY
TRADE AND ECONOMIC DEVELOPMENT
Subject of Possible Rule Making: New rule for the housing trust fund to set forth the amounts of fees and conditions under which grant and loan origination fees are collected from borrowers from the housing trust fund and used for activities related to the administration of the housing trust fund.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 43.185.090, [43.185].100, 43.185A.070, [43.185A].080, 43.330.152, [43.330].155, and [43.330].156.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The Department of Community, Trade and Economic Development (CTED) incurs costs not unlike those of a private lending institution when it originates loans and grants to nonprofit borrowers and monitors properties in which housing trust funds are invested. This proposed rule would set forth the amount of the fees to be collected and the conditions of collection.
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.
Process for Developing New Rule: CTED worked with the Policy Advisory Team, a subcommittee of the Affordable Housing Advisory Board to establish guidelines and procedures for administering the housing trust fund. The PAT is comprised of developers of low-income housing, other public funders and other parties with interest in low-income housing. CTED will meet with the PAT and AHAB before August 1, 2002, to review and discuss the proposed WAC and will solicit input via email. The final draft language will be sent to the AHAB for review and endorsement. CTED will also mail the proposed WAC to all interested parties prior to the WAC hearing with an invitation for comments.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication. Interested parties can participate by requesting to be placed on housing trust fund e-mail list. Parties will be sent drafts of the proposed WAC and invited to comment via e-mail. Contact Department of Community, Trade and Economic Development, Office of Community Development, Housing Division, Attn: Corine Knudsen, Managing Director, P.O. Box 48350, Olympia, WA 98504-8350, phone (360) 725-2931, fax (360) 586-5880, e-mail corinek@cted.wa.gov.
July 2, 2002
Sung Yang
for Martha Choe
Director