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700 E, Mountain View Ave. SUit• 501 Elleniburo, WA 98!il26 (P) SOl,tll,1"41 110 Pennsylvania Ave, Cle Elum, WA 98922 (P) Sot,e74,2375 (P) SOO,Cl7'4,5117 <br />November 16, 2018 <br />HopeSource will develop 49 units of Affordable Housing serving very low and extremely <br />low income households earning less than 50% AMI (Area Median Income) and 30% AMI <br />respectively. In addition 50% of the units will be set aside for homeless households and <br />disabled households. HopeSource has received tax credit awards from the Washington State <br />Housing Finance Commission (WSHFC) to support this project as well as Federal Housing Trust <br />Funds. HopeSource has engaged a developer and has begun preliminary site work and has <br />engaged an architectural firm as well as a developer to begin design and build work. The design <br />of the project wlll be a mix offlats and town homes consisting of 1 and 2 bedroom units in a <br />garden style development. The project will adhere to Evergreen Standards maximizing low <br />energy appliances as well as construction design and material use to further energy savings . <br />Construction of the project is expected to begin in spring of 2019 with full occupancy <br />expected by summer of 2020. The requested funds from Kittitas County in the amount of <br />$500,000 and awarded to HopeSource will be used to compensate the partnership for funds <br />already expensed and purchase of the property to avoid additional loan interest payments. An <br />accounting of which follows. We wish to thank the BoCC of Kittitas County and the Homeless <br />and Affordable Housing Committee of Kittitas County for their support of this much needed <br />project. <br />CEO, HopeSource