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RAHP funds will have no maximum subsidy per unit, but will be limited to 50% of <br />the total development cost of a project. <br />2. RAHP Operations and Maintenance Fund <br />The local RAHP O &M fund will be administered through the King County HCD <br />Program's Homeless Housing Programs "HHP Section. <br />The local portion of SHB 2060 funds to be used as O &M for transitional housing projects <br />and emergency shelters will be 16% of the anticipated average amount of local SHB 2060 <br />dollars ($2.2 million) In order to hold the RAHP O &M fund steady so that multi -year <br />commitments can be awarded to eligible projects, the O &M portion of the fund will be <br />held at $352,000 per year (16% of the total $2.2 million average) for the duration of the <br />RAHP Guidelines. As the total local portion of SHB 2060 funds collected fluctuates <br />from year to year, the O &M portion will remain at $352,000 and the remainder of the <br />local portion will be available for the other pnonties. <br />The pnonty for RAHP O &M funds will be existing projects that the Washington State <br />O &M fund is unlikely to support. The pnonties for the State O &M fund are new housing <br />The percentage of local SHB 2060 funds set aside for O &M was determined by the 2060 Planning Group, which <br />worked together to balance O &M needs and other priority needs in the County Given the fact that 40% of the <br />locally collected funds are sent to the State of Washington solely for O &M use, and the fact that King County <br />projects can apply for the State O &M funds, the 2060 Planning Group felt that local O &M needs and other priority <br />needs are adequately balanced at this percentage. <br />RAHP Guidelines/ Page 12 <br />