PURPOSE AND DESCRIPTION. The Parties join in this Agreement in order to: declare their joint support for equitable development that primarily creates and preserves affordable housing in locations near transit stations and stops that provide frequent and/or high capacity transit services within the Sound Transit service area in King, Pierce and Snohomish Counties; contribute public funds from or on behalf of the respective jurisdictions into a public/private REDI Loan Fund that will enable land to be purchased for such equitable development; and effectively utilize and share funds granted from Washington State to the region for such a loan fund.
Appears in 2 contracts
Sources: Interlocal Agreement, Interlocal Agreement