Forgiving Debt for Affordable Housing
Spokane County Considers Relief for Three Non-Profits
The Spokane County Board of Commissioners is thinking about forgiving $2.3 million in debt owed by three groups that help people find affordable housing. These groups are having trouble paying back their loans because of rising costs and unpaid rent. Two of the groups want to pay less interest and make smaller payments for a year while the third group wants the debt completely forgiven.
(photo: Inlander)
County Hesitates to Take on Rockwell Apartments’ Debt
Building affordable housing has become much more expensive since the loans were given. George Dahl who heads the county’s housing department, says the county should help these groups. But Commissioner Josh Kerns is unsure because the county also has its own housing problems.
The commissioners will soon decide what to do about Rockwell Apartments’ debt. If they forgive the debt, local taxpayers will have to pay for it. Another option is for the county to take over Rockwell Apartments which would add more debt. As George Dahl says building affordable housing can be complicated and costly. The county needs to think carefully before making a decision, according to the report of Washington Examiner.
