On Feb. 10, in a 75-22 vote, the House passed the Washington Works Housing Act, which directs the state's Housing Finance Commission to issue $1 billion worth of bonds in the private market specifically to fund workforce housing projects built by nonprofits or local housing authorities.
Once the bond on an individual project is paid off, Engrossed Substitute House Bill 2753 calls for the nonprofit or housing authority to charge no more in rent than what's required to cover the building's operations and maintenance costs. That's a new idea, says bill sponsor Rep. Tina Orwall (D-Normandy Park), aimed at creating deep affordability on the back end and construction jobs upfront.
--Cydney Gillis