$15 million in grants, loans to help preserve hundreds of affordable housing units across Washington

More than $15 million in grants and loans from the Washington State Department of Commerce will go toward helping to preserve hundreds of affordable housing units across the state.

The department this week announced the funds, from the state's Housing Trust Fund, will help preserve 32 projects across the state or 934 multifamily rental units. About 46% of the units will be for families with extremely low income, meaning they earn less than 30% of the area median income.

“These funds strengthen communities across the state by preserving safe, decent, affordable housing for those in need,” said Commerce Director Lisa Brown. “We have a critical housing shortage in Washington state. Maintaining the quality and availability of our current housing inventory serving our state’s most vulnerable residents is a high-priority, cost-effective investment.”

The Housing Trust Fund's Preservation Program helps projects that involve building improvements and system replacements to "maintain the long-term viability of the existing HTF portfolio."

https://www.msn.com/en-us/money/realestate/15-million-in-grants-loans-to-help-preserve-hundreds-of-affordable-housing-units-across-washington/ar-BB124K3y?ocid=hplocalnews