Applications open for Housing Stability Program funds

Published June 26 2024

Affordable housing developers and operators are encouraged to submit a proposal for funding from the City of Bellevue's Housing Stability Program to develop or maintain affordable and supportive housing. The application deadline is Tuesday, Sept. 10, with preapplication conferences required by Friday, Aug. 23.

To apply, go to Housing Stability Program.

The program invests capital funding into targeted affordable and supportive housing developments in Bellevue that serve the city's most vulnerable residents, and funds services critical for stable living. Funding can be used for capital investment and building-related operations, maintenance and services.

The program has up to $10 million available from sales tax revenue prioritized for affordable housing, and authorized under RCW 82.14.530 and approved by the City Council.

Applicants must demonstrate the capacity to develop, own and operate the proposed project. Eligible entities include:

• nonprofit organizations
• private, for-profit organizations
• public housing authorities
• public development authorities
• local government agencies

Partnerships involving combinations of the above groups are encouraged, especially when necessary to demonstrate capacity in all areas of the project.

The Housing Stability Program supports priorities set by the Bellevue council to provide housing for households earning below 30% of the area median income, address and prevent homelessness and housing instability; and focus on underserved, vulnerable residents in Bellevue.

Bellevue is a member of A Regional Coalition for Housing (ARCH), which administers the funding to invest Bellevue and other cities' resources for affordable housing across the Eastside. The Housing Stability Program is designed to complement and leverage existing funding processes, while contributing to meeting housing needs in Bellevue.