Housing Trust Fund

Since 1986, the state’s Housing Trust Fund has invested over $2 billion in capital funding and helped build or preserve more than 58,600 affordable housing units statewide. The Washington Legislature makes biennial appropriations in the capital budget and directs the Department on how to invest the funds. The Housing Trust Fund provides capital financing through loans or grants to affordable housing projects through annual competitive application cycles.For over 25 years the Policy Advisory Team (PAT) has provided recommendations and advice on affordable housing policy for Commerce and the Affordable Housing Advisory Board (AHAB). RCW 43.185A.020 requires Commerce to develop and administer its affordable housing program with advice and input from AHAB. Commerce has made it a priority to make our community feedback more representative of communities most impacted by the housing crisis and discrimination in housing. Incorporating the voices of community members, and particularly centering voices of communities that experience marginalization and discrimination in access to housing, was a priority throughout a consultant-led process, which involved multiple public meetings across 2023. As a result of this process, Commerce recognizes the need to improve engagement holistically, and is presenting a proposal that replaces the current PAT. This proposal focuses on the following strategies to increase transparency of decision making by incorporating input from diverse stakeholders with reasonable timelines, presentations and multiple feedback channels.