Pierce County seeks proposals from owners of affordable housing who need additional funds to supplement ongoing operating and maintenance (O&M) costs for housing units that are affordable to very low-income households. The intent of the funding is to bridge the gap between the below market rents charged at affordable housing properties and fair market rents, allowing them to avoid a negative cash flow while adequately funding reserves. The O&M funding must be for projects with housing units located in Pierce County including all the incorporated cities and towns within Pierce County and all unincorporated areas of Pierce County.
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