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Adopted by the Board of County Commissioners <br />February 3, 2009 <br /> 22 <br />affordable. <br />Coordinate with other organizations to provide funds for <br />rehab for low-income landlords who agree to maintain unit as <br />affordable. <br />X <br />4. Construction of new affordable housing. <br />Maintenance and rehabilitation of the current affordable housing stock only addresses part of <br />the need for homeless and low-income individuals and families in our county. Over the next <br />five years we need to find/construct 100 units of affordable rental housing for households <br />lower than 30% of the median income. <br /> <br />Home ownership for very-low income families and individuals is another housing option that <br />deserves greater attention in our rural county. There are several home ownership programs <br />currently available through the Housing Authority, USDA, Elmview, and the local affiliate of <br />Habitat for Humanity. For example, Hope Source has the ability to work with two households <br />through an Independent Development Account program. Eligible participants (below 200% <br />poverty) enroll in a case-managed program and agree to open and build a savings account up to <br />$2000. The money saved in this program can be used to pay for college, start a business, buy a <br />car, or purchase a home. Homeowners often significantly decrease their housing costs when <br />moving into their new home; mortgage payments, which include property tax and insurance, <br />average around $400/month. This is one way Habitat is able to target households below 50% <br />of median income. <br /> <br />The cost of purchasing a home in Kittitas County rose dramatically in the past decade. Ensuring <br />that low- and moderate-income families and individuals can have the option of buying a home <br />requires financial assistance to defray building costs for new homes and reduce mortgage <br />payments. Providing assistance to more individuals and families can be a cost-effective way to <br />provide permanent housing to the citizens of Kittitas County. <br /> <br />In the next five years, as many as five low and very-low income families will become <br />homeowners through the Habitat for Humanity program, based on their projected goal to build <br />one house every year. The average cost of a Habitat Home is $100,000, and Habitat is the only <br />organization focused on building affordable housing in our county. The committee would like <br />to see more developers enlisted to contribute to this inventory. <br /> <br />Housing Land Trusts are another way to foster affordable home ownership. The trust owns the <br />land on which the home or apartment house is constructed thereby reducing the overall cost to <br />purchase. The land trust achieves permanent, long-term housing affordability through the use <br />of a ground lease. Homebuyers purchase only the house, and usually enter into a 99-year <br />ground lease with the land trust for the exclusive use of the land. When a homeowner decides <br />to sell their home, the house is sold to another low-to-moderate income household. By limiting <br />market appreciation, permanent affordability is ensured, and initial subsidies invested in <br />making the home affordable are spread across generations of low-to-moderate income <br />homebuyers. The viability of this option in our county needs to be studied. <br /> <br />What Needs to Happen: 2009 By 2012 By 2015