From KNDO 23 News:
The city of Yakima will soon see a 54-unit affordable housing project on Fruitvale Boulevard after the Washington State Department of Commerce announced that the Yakima Housing Authority will receive $119,000 in funding. The money comes from the Housing Trust fund, which the state is using to support developers and bridge the gap from construction cost increases, according to the press release from the department.
The Department of Commerce announced $22.6 million in total investments along with the Yakima funding, saying it worked with projects that had been awarded funding previously but hadn’t accessed the funds yet. The department spoke with the projects about the funding and project status before stakeholders were ready to move on to construction.
“These previously-awarded units were facing gaps in funding due to increased costs,” said Nate Lichti, the department’s managing director of multifamily housing. “The recommended awarded increases, in concert with funding from other partners, will ensure the affordable housing capacity previously committed to is built and placed into service.”
Additionally, the Yakima City Council approved a contract on September 20 with the Yakima Housing Authority, funding the same Fruitvale project with $300,000 in HOME Investment funds.
Read KNDO 23 News' article "Yakima Housing Authority receives funding for affordable housing project on Fruitvale."