Benton County has opened applications for Affordable Housing (2060/1406) Grant funding opportunities for a one-year period.
Donor Name: Benton County
State: Washington
County: Benton County (WA)
Type of Grant: Grant
Deadline (mm/dd/yyyy): 12/10/2021
Grant Duration: 1 year
Details:
Funds will be awarded only in amounts appropriate to the scope of the identified problem, as determined by the review of the application. Only the portion of the budget that serves individuals that meet the eligibility criteria will be funded with the grant funds. The County reserves the right to negotiate modifications in an applicant’s proposed work plan and budget prior to executing a contract. Applicants must bear the costs of preparing and submitting an application for funding.
Eligible Activities
Eligible uses of funding for capital improvement projects include:
- Acquisition of existing residential property. Manufactured housing is not eligible.
- Acquisition of vacant land. (Application must demonstrate ability to begin construction within two years, and project completion within five years) Land Banking is prohibited.
- Construction costs. (New construction, Rehabilitation, Demolition, On-site infrastructure improvements, Permits, Project Management) All new construction projects must meet international building code.
- Development soft costs including but not limited to Engineering, Architectural, Insurance, Developer Fees, and Construction Interest. The 2060/1406 funds cannot provide funding for pre-development activities.
Terms and Conditions of all Funding
All funding will be provided on a grant basis with specific obligation to continue services for a period of time. In the event the property is sold or not used for affordable housing as defined by Washington State law, during the period of obligation the full amount invested shall be repaid to the 2060 fund. No per unit subsidy limit will be established, however applicants are encouraged to leverage other funding sources. Only the portion of project that serves individuals that meet the eligible criteria as set forth in SHB 2060 is eligible for funding.
- Grants up to $50,000.00 require a Five (5) year service obligation
- Grants $50,001.00 to $100,000.00 require a Ten (10) year service obligation
- Grants over $100,000.00 require a Fifteen (15) year service obligation.
Subsidy Term
Benton County will consider commitments for a one-year period. Extensions are only possible following a written request and steering committee approval.
- 2060 Available Funds $300,000.00
- 1406 Available Funds $500,000.00
For more information, visit Benton County.
