City of Tacoma contributes $6M for affordable housing. Here's which projects will benefit
During its March 18 meeting, the Tacoma City Council approved an amendment to the Affordable Housing Fund agreement with the Tacoma Community Redevelopment Authority. The amendment contributes more than $6.9 million to three additional affordable housing projects.
The projects and investments include:
$1 million to Mercy Housing Northwest's Aviva Crossing near Tacoma Community College. According to the City of Tacoma, the funding will help create 129 units of affordable housing.
$3.7 million to HumanGood Affordable Housing's South Yakima Senior Housing facility. The funding is expected to create 66 units of housing.
$2.2 million to Mercy Housing Northwest for 80 units of affordable housing at a development referred to as 35th and Pacific
Maria Lee, a spokesperson for the City of Tacoma, said the money will go toward the 'construction phase' of the projects.
The projects were selected through an application process in 2024 administered by the Tacoma Community Redevelopment Authority. According to Lee, the city committed an additional $6 million to Aviva Crossing through a similiar funding oppurtunity in 2023.
Lee said the priorities for affordable-housing projects are consistent with priorities previously identified by the Tacoma Community Redevelopment Authority.
According to a city memo, households served by the projects must have incomes below 60% of Area Median Income (AMI), and some projects include lower income limits, such as below 50% AMI or below 30% AMI. Tacoma's AMI is $83,857 per household, according to the most recent U.S Census data from 2023.
According to a memo from the city, a goal is to 'decrease the percentage of individuals who are spending more than 45% of income on housing and transportation costs,' a burden felt disproportionately by Tacoma's Black and Pacific Islander households.
'As of the last reported U.S. Census Bureau American Community Survey 5-Year Estimates, 51% of people in Tacoma are experiencing renter cost burden, meaning they pay more than 30% of income on monthly housing cost expenses,' the city's memo states.
Money for the projects comes from the city's Affordable Housing Fund, which raises money through sales-tax revenue. One-time general fund contributions can also be allocated to the Affordable Housing Fund periodically by the City Council.
The fund contributes to contracts which can extend to 2031.
Completed projects funded by Tacoma's Affordable Housing Fund include:
The Shiloh New Life Apartments operated by Shiloh Baptist Church which the city committed more than $4.4 million towards to create 60 affordable housing units.
Tahoma Place operated by the Korean Women's Association, which received more than $1.9 million to create 87 affordable housing units.
Other projects that have received committed funding from the Affordable Housing Fund are still under construction or in pre-development.
Some of those projects are:
Patsy Surh Place, for which the Low Income Housing Institute received more than $1.4 million from the city to create 77 units.
Viridian Grove, for which Southport Construction received $2 million from the city to create 98 units.
Lincoln District Family Housing, for which the Low Income Housing Institute received $4 million to create 72 units.
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