Allison BarnetteThe city of Bellevue, Washington, is partnering with ARCH, a Regional Coalition for Housing, to provide up to $30 million to developers and operators for affordable rental or ownership housing projects.
The funding is divided into two programs targeting distinct needs. The Housing Stability Program, supported by an ongoing 0.1% local sales and use tax, offers $20 million for capital expenses and operations associated with housing for households at or below 60 % of the area median income (AMI), with preference for those earning 30 % or less. Priority populations include seniors, people experiencing or at risk of homelessness, youth, veterans, domestic violence survivors and individuals with behavioral health disabilities.
The Affordable Housing Fund provides a one-time $10 million allocation drawn from developer fee-in-lieu payments, prior appropriations and interest. It offers capital funding for projects serving households at or below 80% AMI. Priority factors include family-sized units, partnerships with nonprofit or faith-based organizations and innovative inclusive design.
Eligible applicants include nonprofit and for-profit developers, public housing or development authorities, local governments and partnerships. Funding may take the form of grants or flexible loans, including interest-only, deferred or hybrid payment structures.
Applicants for both programs must submit a Combined Funders Application and attend a pre-application conference with ARCH and city staff by Aug. 22. Full proposals are due Sept. 9.
Successful applications will demonstrate alignment with income and population targets, project readiness and feasibility, community impact, leveraged funding sources and collaborative partnerships.
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