New RFP to be released August 2023.
Annually, the City of Spokane CHHS Department offers HOME loan funds for affordable rental housing projects under a competitive RFP process. HOME funds can be used to acquire, rehabilitate, or construct affordable rental housing within the City of Spokane.
In exchange for a HOME loan, borrowers must provide HOME units that are subject to Affordability Requirements. These requirements include maximum tenant incomes (30%, 50%, or 60% of Area Median Income) and restricted rents over a 5 to 30 year Period of Affordability. In exchange for providing long-term affordable housing, the City can forgive all or a portion of the HOME loan during the Period of Affordability…