Chapter 4.67
AFFORDABLE HOUSING TRUST FUND

Sections:

4.67.010    Name of Fund

4.67.020    Purpose of Fund

4.67.030    Source of Resources

4.67.040    Operation of Fund

4.67.050    Fund Manager

4.67.060    Effective Date

4.67.010 Name of Fund

There is hereby created a special revenue fund known as the Affordable Housing Trust Fund.

(Added Ord. 02-065, November 20, 2002, Eff date January 1, 2003)

4.67.020 Purpose of Fund

As required by RCW 36.22.178 as amended, the affordable housing trust fund is adopted to provide additional funding resources for eligible housing activities as described in SCC 4.67.040 that serve very low-income households with income at or below fifty percent of the area median income.

(Added Ord. 02-065, November 20, 2002, Eff date January 1, 2003; Amended by Ord. 12-020, May 9, 2012, Eff date May 20, 2012)

4.67.030 Source of Resources

The state of Washington has by RCW 36.22.178 directed the county auditor to collect a surcharge of $10.00 on all instruments, except assignments or substitutions of previously recorded deeds of trust, recorded with the county auditor. Up to five percent of the funds collected may be retained by the county and applied solely to the collection, administration and local distribution of these funds. In accordance with RCW 36.22.178, forty percent of the remaining funds shall be transmitted to the state treasurer. All remaining revenue generated by this surcharge shall be placed into the affordable housing trust fund created by this chapter.

(Added Ord. 02-065, November 20, 2002, Eff date January 1, 2003; Amended by Ord. 12-020, May 9, 2012, Eff date May 20, 2012)

4.67.040 Operation of Fund

In accordance with RCW 36.22.178, the affordable housing trust fund shall be used for eligible housing activities that serve very low-income households with incomes at or below fifty percent of the area median income. A priority must be given to eligible housing activities that serve extremely low-income households with incomes at or below thirty percent of the area median income. The fund shall be allocated to eligible housing activities in the county and the cities and towns within the county according to an interlocal agreement between the county and cities consistent with countywide and local housing needs and policies. As set forth in RCW 36.22.178(2), eligible uses of the fund are limited to:

(a) Acquisition, construction, or rehabilitation of housing projects or units within housing projects that are affordable to very low-income households with incomes at or below fifty percent of the area median income, including units for homeownership, rental units, seasonal and permanent farm worker housing units, units reserved for victims of human trafficking and their families, and single room occupancy units;

(b) Supporting building operation and maintenance costs of housing projects or units within housing projects eligible to receive housing trust funds, that are affordable to very low-income households with incomes at or below fifty percent of the area median income, and that require a supplement to rent income to cover ongoing operating expenses;

(c) Rental assistance vouchers for housing units that are affordable to very low-income households with incomes at or below fifty percent of the area median income, including rental housing vouchers for victims of human trafficking and their families, to be administered by a local public housing authority or other local organization that has an existing rental assistance voucher program, consistent with or similar to the United States department of housing and urban development’s section 8 rental assistance voucher program standards; and

(d) Operating costs for emergency shelters and licensed overnight youth shelters.

(Added Ord. 02-065, November 20, 2002, Eff date January 1, 2003; Amended by Amended Ord. 12-020, May 9, 2012, Eff date May 20, 2012)

4.67.050 Fund Manager

The director of human services or his or her designee shall administer the affordable housing trust fund within the financial management system provided for in chapter 2.100 SCC, and shall serve as the fund manager. The fund manager shall have the duties set out in SCC 4.05.050.

(Added Ord. 02-065, November 20, 2002, Eff date January 1, 2003; Amended by Ord. 12-020, May 9, 2012, Eff date May 20, 2012)

4.67.060 Effective Date

This chapter shall take effect on January 1, 2003

(Added Ord. 02-065, November 20, 2002, Eff date January 1, 2003)