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The Seattle Bank’s Board of Directors has approved the following Affordable Housing Program (AHP) awards for the 2007 AHP funding round.
A total of 43 applications requesting $9.1 million in AHP subsidy were submitted for the 2007 AHP funding round, and 23 applications were approved for $4.66 million of AHP subsidy. Four additional applications were approved as alternates and may be funded if sufficient subsidy is returned to the Seattle Bank before the next AHP application due date on August 1, 2008.
Special Notice to All 2007 AHP Applicants: The Seattle Bank will provide a detailed scoring summary to all Seattle Bank members, sponsors, and development consultants that submitted applications for the 2007 AHP funding round. The minimum score needed in the 2007 funding round was 75 points for competitive applications and 73 points for alternates. Applications that received the same score were ranked in order of those that requested the least amount of AHP subsidy.
Special Notice to 2007 AHP Award Recipients: In addition to receiving a detailed scoring summary, Seattle Bank members that submitted competitive applications will receive a funding packet, which will include an AHP Regulatory Agreement and information regarding the dates of our upcoming compliance seminars. Members must sign the agreement and forward it to the sponsor for signature. Once the signed agreement is received by the Seattle Bank and any outstanding issues have been resolved, members may submit a disbursement request.
ALASKA
Cook Inlet Homeownership
Mountain View and Fairview – Wells Fargo Bank Northwest, N.A. and co-sponsor Credit Union 1 were awarded $128,000 that Cook Inlet Lending Center, Inc. will use to provide downpayment and closing-cost assistance to eight households at or below 80 percent of area median income.
HAWAII
Waiehu Kou 4 - Turnkey
Wailuku – Bank of America Oregon, N.A. was awarded $209,970 that will allow the Department of Hawaiian Homelands to provide downpayment assistance to 20 households earning 80 percent or less of area median income. The project represents the fourth phase of a larger project that will provide a total of 98 units of housing.
IDAHO
Ponderosa Apartments
Sandpoint – Bank of America Oregon, N.A. was awarded $370,947 that Spokane Housing Ventures will use to construct 60 units of housing, 53 of which will be reserved for households at or below 50 percent of area median income. The remaining seven units will be offered at market rate with no income restrictions. The project includes commercial space and a community center with a computer lab.
Silver Creek Apartments
Post Falls – Sterling Savings Bank was awarded $258,950 that Community Development, Inc. will use to construct 38 one-bedroom apartments reserved for senior citizens. Qualifying residents will earn 50 percent or less of area median income. Eight units will be set aside for homeless households. The project will include approximately 7,000 square feet of community space for laundry facilities, a computer lab, and manager’s office, as well as a patio and garden space.
OREGON
Gospel Rescue Mission Men’s Facility
Grants Pass – Evergreen FS & LA was awarded $400,000 that Gospel Rescue Mission will use to develop 78 units of housing for homeless households. Qualifying residents will earn 60 percent or less of area median income. The facility will offer counseling, computer skills training, budgeting, job skills training, and parenting classes, as well as other social services to residents. An onsite clothing exchange program, showers, daily meals, and social service counselors will be available to residents and non-residents.
HFH - Blakely Road Development
Bend – Bank of the Cascades was awarded $300,000 that Bend Area Habitat for Humanity will use to construct six single-family homes. Qualifying homebuyers will earn 75 percent or less of area median income. Two of the homes will be set aside for special needs residents.
Rolling Hills Low Income Development
Carlton – Citizens Bank was awarded $110,000 that Yamhill Community Development Corporation will use to construct 11 mutual self-help homes. Qualifying homebuyers will earn 80 percent or less of area median income. All 11 homes will be reserved for first-time homebuyers.
Rose Quarter Condo A
Portland – Albina Community Bank was awarded $400,000 that Central City Concern will use to rehabilitate a former motel into 132 apartments. Qualifying residents will earn 50 percent or less of area median income. Twenty seven of the units will be reserved for homeless households or residents with special needs.
The Hayes
Eugene – Umpqua Bank was awarded $209,797 that Lane County St. Vincent de Paul will use to construct a four-story, mixed-use building that will include ground floor commercial space and 35 housing units. Qualifying residents will earn 80 percent or less of area medium income. Several units will be set aside for households living with HIV/AIDS and homeless veterans.
VetLift II
Eugene – Umpqua Bank was awarded $120,000 that Lane County St. Vincent de Paul will use to rehabilitate an apartment complex into transitional housing for 21 chronically homeless veterans. One additional apartment will be provided as a manager’s unit. Services will include mental and physical health care, drug and alcohol counseling, job training and placement, legal aid, permanent housing placement, and recreational activities.
UTAH
Garden Park Apartments
Salt Lake City – Wells Fargo Bank Northwest, N.A. and co-sponsor Bank of American Fork were awarded $400,000 that The Road Home will use to renovate a hotel into 213 units for homeless households. Qualifying residents will earn 60 percent or less of area median income. The project will also include community space where the sponsor will provide onsite social services, including case management and parenting skills counseling.
Jessica’s Ranch Estates
Payson – Bank of American Fork was awarded $69,990 that Rural Housing Development Corporation will use to construct 10 mutual self-help homes for first-time homebuyers. Qualifying homebuyers will earn 80 percent or less of area median income.
Kamas/Parleys
Kamas/Park City – Wells Fargo Bank Northwest, N.A. and co-sponsor Bank of American Fork were awarded $97,986 that Mountainlands Community Land Trust will use to construct 10 units of mutual self-help housing and four additional single-family homes. Qualifying homebuyers will earn 80 percent or less of area median income. Eight of the units will be reserved for first-time homebuyers.
Pine Meadows Subdivision
Spanish Fork – Bank of American Fork was awarded $69,990 that Rural Housing Development Corporation will use to construct a 14-unit, self-help project. Qualifying homebuyers will earn 80 percent or less of area median income. Eight of the units will be reserved for first-time homebuyers.
WASHINGTON
Arrowleaf Village
Airway Heights – Bank of America Oregon, N.A. was awarded $349,950 that Spokane Housing Ventures will use to develop 50 units for households at or below 80 percent of area median income. Eleven of the units will be set aside for homeless individuals, and 11 will be set aside for the disabled. The project includes a community center for onsite empowerment activities, a computer lab, and commercial space to be leased to a non-profit organization
Bridge to Homeownership
Richland – Washington Mutual Bank, FSB was awarded $96,000 that the City of Richland will use to provide downpayment assistance on 16 units of scattered-site housing. All units will be reserved for first-time homebuyers earning 80 percent or less of area median income, with three units set aside for disabled individuals and one unit set aside for an elderly homebuyer.
Compass Center Lutheran Veterans
Renton – Charter Bank was awarded $400,000 that Compass Center will use to construct 65 apartments serving homeless veterans and their families. Qualifying residents will earn 60 percent or less of area median income. Supportive services will include mental health, substance abuse, domestic violence, physical well being, educational, employment, economic self-sufficiency, and life skills counseling.
Duvall Youth and Family Services
Duvall – Charter Bank was awarded $80,000 that Hopelink will use to construct eight units of transitional housing for homeless families. Qualifying residents will earn 50 percent or less of area median income. The complex will include a shared community facility with office space, which will be used for youth counseling and adult education classes.
Forks Supportive Housing
Forks – First Federal Savings and Loan of Port Angeles was awarded $97,986 that Serenity House of Clallam County will use to construct 14 units of housing for households affected by chronic mental illness. Qualifying residents will earn 50 percent or less of area median income. The project will include onsite case management and supportive services for residents.
HFH – Habitat Spokane – More Than Houses
Spokane – Sterling Savings Bank was awarded $117,000 that Habitat for Humanity Spokane will use to construct and rehabilitate the Habitat-Spokane “More Than Houses” project, which will provide nine homes to first-time homebuyers at or below 50 percent of area median income. The project will construct four new duplexes and rehabilitate one single-family unit. Two of the units will be set aside for homeless individuals, and two will be set aside for elderly individuals.
HFH - Kitsap Homes 2008
Bremerton – Westsound Bank was awarded $153,978 that Habitat for Humanity of Kitsap County will use to construct 22 homes in two locations. Residents will be first-time homebuyers earning 50 percent or less of area median income. Each household will contribute a minimum of 400 hours of sweat equity and complete a homebuyer education class.
Kulshan CLT HomeOwnership
Bellingham – Banner Bank was awarded $140,000 that Kulshan Community Land Trust will use to provide 20 qualified homebuyers with downpayment assistance in Whatcom County. Qualifying homebuyers will earn 80 percent or less of area median income. Sixteen households will be first-time homebuyers and four will be reserved for disabled individuals.
Mission Highlands Tribal Self Help Homes
Tulalip – Frontier Bank was awarded $79,992 that Housing Hope will use to construct eight mutual self-help homes. Qualifying residents will earn 70 percent or less of area median income. All units will be reserved for tribal members who are first-time homebuyers.
AHP Alternate Projects
Anacortes Family Center
Fidalogo Island, Washington – Peoples Bank was approved as an alternate for a $62,100 award that Anacortes Community Shelter Project would use to construct nine units of housing. Eight units would provide transitional housing for homeless households, and one unit would be provided to an onsite manager. The project would include unique security features to accommodate victims of domestic violence and single parents.
Heather Glen
Veneta, Oregon – Umpqua Bank was approved as an alternate for an $188,973 award that Lane County St. Vincent de Paul would use for construction of 27 apartments. Qualifying residents would earn 50 percent or less of area medium income. The complex would incorporate sustainable and green building practices and include a community garden, wetlands area, play area, and a community building. Six units would be reserved for elderly households.
PC2 Homeownership
Pierce County, Washington – Rainier Pacific Bank was approved as an alternate for an $83,988 award that would allow Pierce County Coalition for Developmental Disabilities Homeownership Program to provide downpayment and closing-cost assistance to 12 households with developmental disabilities. Qualifying applicants would be first-time homebuyers earning 70 percent or less of area median income.
Phoenix House
Kelso, Washington – Cowlitz Bank was approved as an alternate for a $135,000 award that the Housing Authority of Longview would use to construct a supportive, mixed-use, 20-unit project. The housing would provide private bedrooms and bathrooms and shared kitchens and living areas for homeless households.
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