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Mayor's Housing-Affordability Proposals
Mayor's Housing-Affordability Proposals
Mayor's Housing-Affordability Proposals
This is a multi-pronged
approach that calls for
innovative changes in
how Seattle plans and
accommodates housing,
as well as a shared
commitment between
taxpayers, businesses
and nonprofits to support
the construction and
preservation of affordable
housing.
Roughly 45,000 households in Seattle spend more than half of their incomes on
housing, and at least 2,800 are experiencing homelessness. This affordable housing
crisis threatens to erode our citys diversity and character unless we act now.
My goal is a city where people of all backgrounds can find affordable homes in
walkable, livable neighborhoods with access to parks and transit. We all share a
responsibility to make Seattle a more affordable and equitable city. Together, we
can move forward with this plan and ensure Seattle is a place for people of all
incomes to live and enjoy.
Sincerely,
This plan calls for a tripling of affordable housing production and inclusion of
affordability in all new developments.
20,000 Affordable Units
30,000 Market-Rate Units
26,250 HHs
(62%)
20,000
15,000
21,500
10,000
5,000
Owner
530,831
493,846
516,259
563,374
608,660
~ 725,000
398,000
Housing Units
10,000 HHs
(33%)
5,500 HHs
(14%)
6,250
221,973
230,039
249,032
1980
1990
270,524
308,516
328,000
70,000 Housing
Units. 2015-2035
growth being
planned for in the
Comprehensive
Plan Update
1,750
4,750
Renter
In total, an estimated
15-20% of all Seattle
households are
currently severely cost
burdened.
25,000
2.
<30%
AMI
3,750
30%-50%
AMI
3,750
50%-80%
AMI
80%-100%
AMI
100%-120% >120%
AMI
AMI
1970
2000
2010
2015
2035
Source: U.S. Department of Housing & Urban Development, CHAS, 2006-2010 5-Year American Community Survey, Seattle city. Note: These
are rough estimates.
Source: U.S. Census Bureau, Decennial Census; 2015 to 2035 growth estimate in Updating Seattles Comprehensive Plan Background
Report; 2015 housing informal projection by SPC Demographer.
$ 3,000
$ 2,500
$ 2,000
Renter
Owner
35%
30%
25%
20%
$ 1,500
$ 1,000
$ 500
$
4.
15%
10%
5%
Medical
Assistant
(1 Person)
Elementary
School Teacher
(1 Person)
0%
White alone,
non-Hispanic
Asian alone,
non-Hispanic
Black or
African-American alone,
non-Hispanic
Other
Hispanic,
(including
any race
multiple races,
non-Hispanic)
Growing Affordably:
Implementing the Mayors Action Plan
The roadmap to an affordable and livable city addresses all areas in Seattle.
2
1
Increase Diversity
and Flexibility of
Single Family Areas
Preserve Existing
Affordable Housing
Make Strategic
Investments to
Anchor Communities
and Prevent
Displacement
John Skelton
Gerding Edlen
4
John Skelton
Scaling Success
With strong housing and livability strategies in place, the City can do more of
what it does well.
Kenan
Creating housing opportunities that are affordable to households earning a wide range
of incomes requires innovative solutions like the Multifamily Tax Exemption. By honing
and expanding our incentive programs, the City is able to increase affordable housing
options for modest wage workers in new apartment buildings without direct subsidy.
Krystal
City investments are crucial to provide family-sized, affordable homes to low-wage workers in Seattle.
For 30 years, the Seattle Housing Levy has been a key funding source to leverage even more resources
to create housing that is affordable to low-wage workers and families, ensuring that our community
remains diverse and equitable. We need more resources to meet the need. Increased resources for
low-income housing, including the redevelopment of publicly owned land, revenue from a Voluntary
Employers Fund and a doubled Housing Levy, will help ensure that hard working families can live near
transit, jobs and cultural communities.
Achieving the goal of 20,000 affordable homes in 10 years will take an aggressive
investment strategy that calls on all our partners to be part of the solution.
Locally, we are taking a balanced approach by utilizing diverse revenue streams and
spreading responsibility across sectors. This plan is also a call to action to the state and
federal governments to match local commitments and reinvest in our shared commitment
to creating affordable communities. Federal resources will be crucial not only for financing
new housing, but also for funding supportive services and operations of housing for those
experiencing homelessness.
$3,000,000,000
SeattleHousingLevy
Surplus PropertyRevenue
$2,500,000,000
County
$2,000,000,000
MandatoryInclusionaryHousing
andCommercialLinkageFee
DocumentRecordingFees,
Hotel/MotelTax,Local
OptionSalesTax
$50Million
City
SeattleHousingLevy,
PaymentsfromMandatory
Developmentprogram,
CommercialLinkageFee,
SurplusPropertyRevenue,
$750Million
State
HousingTrustFund,New
RealEstateExciseTax
$215Million
Federal
$1,500,000,000
EquityInvestmentinFederal
TaxCredits,DirectHUD
Investment
$1.2Billion
$1,000,000,000
Private
$500,000,000
TaxExemptDebt,Social
Investing,Voluntary
EmployersFund
$785Million
$
2016
Q3
Q1
Q4
Q2
2017
Q3
Q4
Q1
Q2
Q3
Q4