Chapter 3.132
AFFORDABLE HOUSING FUND

Sections:

3.132.010    Affordable housing fund.

3.132.010 Affordable housing fund.

A.    There is hereby created the affordable housing fund.

B.    The affordable housing fund may be created with all revenues received from the state-shared tax credit codified in part at RCW 82.14.540, as currently enacted or as hereafter amended or recodified from time to time, or other revenues not restricted in use by law.

C.    The money in the affordable housing fund is restricted to eligible uses defined by RCW 82.14.540, as currently enacted or as hereafter amended or recodified from time to time, including acquisition, rehabilitation, and construction of affordable housing; operations and maintenance of new affordable housing units; rental assistance; loans or grants to nonprofit organizations or public housing authorities; repayment of bonds; and related administrative expenses not exceeding ten percent of annual revenues. (Ord. 2025-029 § 2, 2025).