BILL · 2007–08 SESSION · LATEST VERSION E2SHB 3180
HB 3180: Housing investments
Addressing housing reform policies to achieve greater efficiencies in housing investments.
Summary
Requires the Department of Community, Trade and Economic Development (DCTED) to identify strategies to reduce costs associated with affordable housing projects financed through the Housing Trust Fund.
Requires the Office of the Insurance Commissioner to recommend strategies to reduce construction liability and earthquake insurance costs for projects funded by the Housing Trust Fund.
Creates the Float Loan Program within the DCTED to assist organizations with affordable housing projects to continue with their development process while awaiting a full Housing Trust Fund award or securing alternate project funding.
Adds objectives to the Washington State Housing Finance Commission (HFC) plan and requires the plan to be updated every two years.
Requires that the HFC give priority to nonprofit organizations when awarding tax exempt multi-family bonds.
Exempts housing projects funded by the Housing Trust Fund from certain relocation assistance and property acquisition requirements.
From the Second Substitute House Bill Report (2SHB 3180), written by the Legislature's nonpartisan staff. Read the full report ↗
Did not passDid not pass · passed House, stalled in Senate