HomeMy WebLinkAbout1441RESOLUTION NO. 1~41
A RESOLUTION of the City Council of the
City of Kent, Washington, endorsing the
Growth Management Planning Council 1 s (GMPC)
Housing Finance Task Force recommendation for
new countywide funding sources for affordable
housing.
WHEREAS, there is a substantial amount of housing need
throughout the County: approximately 130,000 low and moderate
income households pay more than 30 percent of their income for
housing; of these, about 54,000 spend more than half their income
on housing; these 130,000 households account for over 20 percent
of all King County households, households that are struggling
each month to pay their rent or mortgage and still have enough
money left over to pay other bills and necessities; and
WHEREAS, the 1994 Countywide Planning Policies state
that by October 1994, the Growth Management Planning Council
(GMPC) or its successor shall appoint elected and community
representatives to develop recommendations for providing low and
moderate income housing and related services, and that within one
year the committee shall recommend to the GMPC or its successor:
1) New countywide funding sources(s) for housing production and
services, and a plan to establish this funding within three
years; 2) Participation by local governments, including
appropriate public and private financing, such that each
jurisdiction contributes on fair share basis, and 3) Objectives
for housing and related services, including measurable levels of
housing production and costs to provide necessary related
service; and
WHEREAS, the King County Housing Finance Task Force was
appointed in fall 1994 by the Growth Management Planning Council
and charged with recommending a new countywide funding source (or
sources) for affordable housing production and services; and
WHEREAS, the Housing Finance Task Force released its
Preliminary Financing Recommendation in May 1995, and the
recommendation consists of three parts: 1) a shared commitment
from jurisdictions to fund affordable housing, 2) creating a
dedicated revenue source and 3) appealing to King County voters
for a housing levy; and
WHEREAS, communities which invest in affordable housing
reap many benefits: people in service and entry-level jobs can
live and work in their own community; low-income seniors who have
lived their entire lives in a given community can continue living
near friends and familiar stores and services; deteriorating
neighborhoods and vacant lots are renewed with public investment;
jobs are created (for example, the Washington State Housing
Finance Commission estimates its programs alone have supported
24,000 jobs); and increasing horne ownership opportunities allow
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more people to become stakeholders in their community, helping to
invest in and maintain stable neighborhoods; and
WHEREAS, while much affordable housing is provided
without public investment, some types of desirable affordable
housing cannot be provided by the private market alone;
therefore, public-private partnerships are needed, and the
funding sources recommended by the Housing Finance Task Force
provide opportunities for such partnerships; and
WHEREAS, a King County survey, cited in the Task
Force's preliminary financing recommendation document, shows that
King County voters consider affordable housing a high priority.
In a list of ten potential new public services or projects that
would require increased taxes, affordable housing for low-income
residents ranks third behind law enforcement (fingerprint
identification) and education (before and after school programs)
and
WHEREAS, the Housing Finance Task Force proposes the
following strategies for new countywide funding and programs:
Housing programs that are focused, that build and rehabilitate
housing to address the highest priority countywide and local
needs; a comprehensive financing approach that uses multiple
sources of funds and raises funds from all King County
communities; and a structure for the distribution of funds that
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assures each community will participate in setting program
priorities and approving the affordable housing which is built in
their own community; and
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City endorses the GMPC's Housing
Finance Task Force's recommendation for new countywide funding
sources for affordable housing.
Passed at a regular meeting of the City Council of the
City of Kent, Washington this (P day of ~~ , 1995.
Concurred in by the Mayor of the City of Kent, this
day of , 1995.
JIM WHITE, MAYOR
ATTEST:
BRENDA JACOBER, CITY CLERK
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APPROVED AS TO FORM:
I hereby certify that this is a true and correct copy
of Resolution No. /~tf I , passed by the City Council of the
/~tk.-. r >. City of Kent, Washington, the _ day of ~~--, 1995.
· --P-ke.--' tLu--t~)L,/ (SEAL)
./ BRENDA JACOBE& I ITY CLERK
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