Grant and loan application process — Report.
*** CHANGE IN 2013 *** (SEE 1617-S.SL) ***
(1) During each calendar year in which funds are available for use by the department for the affordable housing program, the department shall announce to all known interested parties, and through major media throughout the state, a grant and loan application period of at least ninety days' duration. This announcement shall be made as often as the director deems appropriate for proper utilization of resources. The department shall then promptly grant as many applications as will utilize available funds less appropriate administrative costs of the department, not to exceed five percent of moneys appropriated to the affordable housing program.
(2) Until June 30, 2013, for applications submitted for funding under RCW 43.185A.030(2)(a), the department shall consider total cost and per-unit cost of each project compared to similar housing projects constructed or renovated within the same geographic area.
(3) The department shall develop, with advice and input from the affordable housing advisory board established in RCW 43.185B.020, or a subcommittee of the affordable housing advisory board:
(a) Additional criteria to evaluate applications for assistance under this chapter; and
(b) Recommendations for awarding funds under RCW 43.185A.030(2)(a) in a cost-effective manner, including an implementation plan, timeline, and any other items the department identifies as important to consider. The department must submit a report with the recommendations to the legislature by December 1, 2012.
[2012 c 235 § 2; 1991 c 356 § 14.]