AH-2018-001 Habitat - Laserfiche WebLink

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2. Project Description Summary: Provide a brief summary the project being proposed and a general description of how it will address homelessness or affordable housing in Kittitas County. Be sure and indicate whether the proposal is intended to provide direct client services or construction, maintenance, or improvement of housing facilities. (250 words max.) Kittitas County Habitat for Humanity (KCHFH) creates homeownership opportunities by building affordable, new-construction housing for qualified low-income individuals and families in Kittitas County (KC) WA. To increase capacity to build 2+ houses per year, KCHFH is requesting funding of $980,000 over a six-year period (2018 -2023) to complete 14 new construction houses for home ownership. The funding request covers $70,OOOO/house for 14 houses. Funds will be used to purchase land, provide infrastructure development for donated land, and/or purchase construction materials, pay for subcontractors, regulatory fees, rental equipment costs and waste disposal. No administrative funds are requested. The faster KCHFH can generate funds, the faster we can help meet the Kittitas County affordable housing needs. Each Habitat house generates revenue to KC through property tax rolls. Conservatively, a Habitat house will generate approximately $1,900 +/year in personal property taxes which will benefit the community. Over a 30-year period this equates to $57,000 income to KC per house completed. KCHFH recently began utilizing new loan products which are helping to sustain and grow our affordable housing program. We are using USDA 502 Rural Home Loans as well as 3rd party lending which makes it possible for KCHFH to build capacity at a faster rate by receiving funding through the 3 rd party loan at the closing of the house. The KC funds, will supplement the revenue provided by the 3rd party loan, Store proceeds, donors, grants, and Habitat events. -See Other Support Section 5