Drafter
Clerk 06/19/2003
title
AN ORDINANCE relating to affordable housing program guidelines for local revenue created by 2002 Washington Laws Chapter 294 (Substitute House Bill 2060).
body
PREAMBLE:
In accordance with Motion 11444 and 2002 Wash. Laws Chapter 294, a planning process involving King County, cities within King County and King County stakeholders was held for the purpose of establishing implementing guidelines for the use and allocation of the sixty percent of the document recording surcharge that is received and deposited into a fund by King County, for use by King County and its cities and towns for affordable housing to households at or below fifty percent of area median income.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. A new affordable housing funding program is established in King County from the revenue generated by 2002 Wash. Laws Chapter 294. This new program is a regional fund administered by the King County housing and community development program and is entitled the regional affordable housing program.
SECTION 2. The regional affordable housing program guidelines attached to this ordinance direct the allocation and use of the sixty percent of the recording surcharge that is deposited into an account by King County for use by King County and its cities and towns for affordable housing.
SECTION 3. The regional affordable housing guidelines attached to this ordinance shall be incorporated as an Appendix to the King County Consortium's Consolidated Housing and Community Development Plan, a comprehensive affordable housing planning and policy document adopted by the King County council.
SECTION 4. The interjurisdictional joint recommendations committee, the body that may approve regional affordable housing program fund allocations under the attached guidelines, may approve an amendment to the guidelines for the sole purpose of
inserting the percentage figures for the subregional allocation targets once the necessary 2000 census data is available.