MADRONA MANOR and the AUTHORITY hosted a very special event sponsored by the Washington State Housing Finance Commission and FANNIE MAE (the Federal National Mortgage Association). This event was to honor a "Housing Hero" Congressman Norm Dicks. The Congressman was responsible for several housing initiatives that improved housing opportunities in the State. In particular, he sponsored legislation to increase the funding under the Low Income Housing Tax Credit Program, a major source of funding for Madrona Manor.

Madrona Manor is owned by the 19th Hole Limited Partnership, of which the Housing Authority is the General Partner. Madrona Manor received its permanent financing through a mix of local, state, federal, and private funding. First National Bank of Port Orchard provided a grant through the Federal Home Loan Bank's Affordable Housing Program. Kitsap County provided CDBG and HOME funds. Washington State provided Housing Assistance Program dollars and Federal Low Income Housing Tax Credits were allocated through the Washington State Housing Finance Commission and purchased by Seafirst and Washington Mutual Banks. Additionally, the Housing Authority will issue a small taxable bond to complete the financing. Mithun Partners is the architect, Gene Bouma, Inc. is the general contractor, and Sound Finance Group is the development consultant.

The mix of public and private funds allows the rents to be affordable to very low-income seniors. Rent for a one bedroom unit will range from $235 to $355 per month, with the average rent for a one-bedroom unit of $295 per month. All of the units will serve seniors who make under $15,000 per year. Thirteen of the units will be set aside for seniors who make less than $8,000 per year.