Title
Update On Affordable Housing Programs Supported With Utility Revenues
Recommended Action
Information only. No action requested.
Report Issue:
Update on affordable housing programs supported with utility revenues
Staff Contact:
Jacinda Steltjes, Housing Division Manager, Community Planning & Economic Development, 360.753.8482
Presenter:
Jacinda Steltjes, Housing Division Manager, Community Planning & Economic Development, 360.753.8482
Background and Analysis:
Increasing Affordable Housing Supply
Over the past decade, the City has worked to increase the supply of affordable housing- defined as housing that costs a low-income household no more than 30% of their gross annual income- on several fronts. Efforts include, but are not limited to, the creation and implementation of the Housing Action Plan; adoption of affordable housing development incentives such as reducing impact fees by 80% and reducing general facility charges by 50%; and an ordinance declaring the insufficient supply of affordable housing an emergency.
These efforts align with efforts which are being taken in response to recent state legislation (HB 1220) passed in 2021. The legislation requires that local governments, when updating their Comprehensive Plans, outline how they will plan for and accommodate housing affordable to all economic segments, promote a variety of residential densities and housing types, and encourage preservation of existing housing stock in the coming 20 years.
Compliance with HB 1220 requires that jurisdictions identify the number of households in each income range they are planning for, document that need in their comprehensive plans, and demonstrate that their policies allow for that housing need to be met. Olympia and its urban growth area will require approximately 14,295 new housing units by 2045 to accommodate population growth. Of these, approximately 7,616 housing units will be needed for low-income households.
General Facility Charge (GFC) Discount Pr...
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