File #: 2025-0202    Version: 1
Type: Motion Status: To Be Introduced
File created: 7/1/2025 In control: Budget and Fiscal Management Committee
On agenda: Final action:
Enactment date: Enactment #:
Title: A MOTION acknowledging receipt of the Regional Workforce Housing Initiative Implementation Plan in compliance with Motion 16690.
Sponsors: Girmay Zahilay
Indexes: affordable housing, Housing
Attachments: 1. A. Regional Workforce Housing Initiative Implementation Plan, June 2025, 2. 2025-0202 Transmittal Letter, 3. 2025-0202 Legislative Review Form
Related files: 2024-0279
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Drafter

Clerk 06/26/2025

Title

A MOTION acknowledging receipt of the Regional Workforce Housing Initiative Implementation Plan in compliance with Motion 16690.

Body

                     WHEREAS, the metropolitan King County council passed Motion 16690 on November 12, 2024, which requested the executive to develop a regional workforce housing initiative implementation plan, and

                     WHEREAS, the Regional Workforce Housing Initiative Implementation Plan provides the information and analysis requested by Motion 16690, including but not limited to:

                     1.  Analysis considering options to utilize existing debt capacity to issue limited tax general obligation bonds to fund, in partnership with housing agencies and housing developers, permanently rent-restricted, multiple-unit housing;

                     2.  Consideration of utilizing existing debt capacity to issue limited tax general obligation bonds to develop a revolving construction loan fund wherein housing developers borrow from the county to construct housing units that would be sold to income qualified homebuyers;

                     3.  A definition of workforce housing as housing that is affordable to households with one or more workers that is located near jobs and services necessary for residents to meet their day-to-day needs, such as grocery stores and public transportation;

                     4.  Consideration of utilizing at least one billion dollars in furtherance of the goals and strategies explored with within this regional workforce housing initiative;

                     5.  Input from labor organizations, labor unions, experts in fair housing, affordable housing, community development, management, public and private financing, and historically and currently underrepresented housing developers in development or construction of housing;

                     6.  Recommendations to prioritize King County’s ability to maintain a strong bond rating; and

                     7.  Consideration of land and building acquisition funding, particularly in areas at risk of displacement;

                     NOW, THEREFORE, BE IT MOVED by the Council of King County:

                     Receipt of the Regional Workforce Housing Initiative Implementation Plan, Attachment A to this motion, is hereby acknowledged as required under Motion 16690.