CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to housing for low-income households; adopting amended Housing Funding Policies for housing programs and investments; authorizing actions by the Director of Housing regarding past and future housing loans and contracts; and ratifying and confirming certain prior acts.
body
WHEREAS, pursuant to Ordinance 125028, in 2016 Seattle voters approved the levy of property taxes for the purpose of financing and supporting housing for low-income households; and
WHEREAS, Ordinance 125028 provides for periodic adoption by the City Council of an Administrative and Financial Plan for programs funded by the 2016 Housing Levy; and
WHEREAS, the Levy Administrative and Financial Plan incorporates the Office of Housing's Housing Funding Policies ("Funding Policies"); and
WHEREAS, the current Funding Policies for program years 2021 to 2023 were adopted by Ordinance 126377; and
WHEREAS, market conditions and policies and funding at the federal, state, and local levels change rapidly, requiring reasonably flexible approaches to affordable housing development and rehabilitation; and
WHEREAS, modifications to the Funding Policies are needed to ensure an intentional approach to equitable development to address displacement and redress past and present harms of discriminatory housing practices; and
WHEREAS, there are significant racial disparities reflected in the need for affordable housing, in severe cost burdens faced by renters, and among those experiencing homelessness; and
WHEREAS, this Council Bill provides for amended Funding Policies proposed by the Office of Housing to achieve these objectives; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. The City Council hereby adopts the Funding Policies, as amended herein ("Amended Funding Policies"), attached to this ordinance as Exhibit A. The Amended Funding Policies supersede the Funding Policie...
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