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The Department of Commerce’s Housing Finance Unit is seeking applications from organizations, beginning July 1, to help preserve affordable multifamily/rental housing.

During the 2021-23 legislative session [SHB 1080 § 1072], the legislature appropriated $10 million to the Housing Trust Fund solely for the preservation of affordable multifamily rental housing that is at risk of losing affordability due to expiration of use restrictions that otherwise require affordability for low-income households.

Applications will be accepted on a first-come, first-served basis until all available funds are exhausted. See the Notice of Funding Availability (NOFA) for additional details such as eligibility, funding requirements and priorities, the process for submitting an application, and dates of significance.

The NOFA and application materials are also available on the Applying to the Housing Trust Fund website.