CAPITAL INVESTMENTS FOR AFFORDABLE HOUSING DEVELOPMENT

In our ongoing commitment to address the pressing issue of affordable housing, our top priority is securing substantial capital investments. These funds will bolster the Housing Trust Fund, facilitating the initiation of new affordable housing projects across the state. By strategically allocating resources, we aim to fortify Pierce County with an increased supply of affordable housing options, catering to the diverse needs of our residents.

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FUNDING AND FLEXIBLE OPTIONS TO BUILD, PRESERVE, AND PURCHASE

To diversify our approach to providing enough affordable housing, we advocate for comprehensive funding options that cover the entire spectrum of affordable housing initiatives. This includes support for construction, preservation, and acquisition efforts. By exploring innovative financial mechanisms, we seek to empower developers, community organizations, and local authorities to undertake a multifaceted approach, ensuring the availability and sustainability of affordable housing throughout the state.

 

GENERAL OPERATING INVESTMENTS FOR AFFORDABLE HOUSING

Beyond capital investments, sustaining the vitality of affordable housing necessitates ongoing operational support. Our legislative agenda prioritizes general operating investments to ensure the seamless functioning of existing affordable housing projects. This includes maintenance, management, and essential services, guaranteeing that these vital resources remain accessible and beneficial to our residents in the long term.

 

TAX INCENTIVES TO DEVELOP HOUSING

Recognizing the pivotal role of the private sector in expanding affordable housing options, we advocate for strategic tax incentives. By implementing targeted sales tax relief for nonprofit developers or incentives for developers to engage in affordable housing projects, we aim to stimulate increased investment and construction activity. These incentives not only encourage the private sector to contribute significantly to our housing goals but also foster a collaborative environment that aligns public and private interests for the greater good of our communities.

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STREAMLINING ACCESS TO CHIP FOR AFFORDABLE HOUSING DEVELOPERS

We propose a critical amendment to the Connecting Housing to Infrastructure Program (CHIP) to enhance efficiency and accessibility for affordable housing developers. Our legislative priority focuses on enabling these developers to apply directly to CHIP, eliminating the current requirement to apply through their jurisdiction. This streamlined process not only expedites funding but also ensures a more direct and responsive avenue for affordable housing projects. Additionally, we advocate for an increase in the project cap to $4 million per project, providing developers with the necessary financial latitude to undertake impactful and substantial infrastructure improvements that address the pressing needs that are necessary for their projects.