Budget Surplus to Fund Low-Income Housing?

A bill currently in the Washington State legislature would use some of the state's $1.4 billion budget surplus to fund low-income housing. It's estimated that as much as half of the surplus comes from real estate transactions in a still-hot market, particularly in larger cities.

Spokane's Spokesman-Review reports:

The bill would pay for $100 million worth of low-income housing projects in the next four years. The bulk of the funding would go to the state's Housing Trust Fund, which has a backlog of $45 million in projects that could serve 2,300 households across the state, housing advocates said. Last year, two-thirds of all applications to the public fund were denied because of a lack of money, advocates said. ... The bill would also provide some funding for homeless programs, migrant laborers and victims of domestic violence, as well as projects to reduce energy bills by weatherizing older homes.
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