AN ORDINANCE relating to affordable housing in unincorporated south King County, |
authorizing the King County executive to execute a contract for a |
six-million-eight-hundred-fifty-thousand-dollar Section 108 loan guarantee with the United |
States Department of Housing and Urban Development; authorizing the executive to execute a |
loan agreement with the King County Housing Authority to finance the construction of the |
supporting infrastructure at the Greenbridge project; providing revenues for the principal and |
interest of the Department of Housing and Urban Development Section 108 loan, establishing a |
fund for the payment of the Department of Housing and Urban Development Section 108 loan; |
pledging future Community Development Block Grant funds for the principal and interest of |
the Department of Housing and Urban Development; and pledging to provide for the annual |
levy of taxes to pay the principal and interest thereon. |