Seattle, WA

Affordable Housing Levy

Seattle, WA

Affordable Housing Analysis & Strategy

czb was instrumental in designing a levy program for the City of Seattle, WA, which now plays a central role in the city’s affordable housing delivery system. Since 1981, Seattle voters have approved one bond and five tax levies to create an affordable housing fund. The city has now funded more than 12,500 affordable apartments for seniors, low- and moderate-wage workers, and formerly homeless individuals and families. It has also provided homeownership assistance to more than 900 first-time, low-income home buyers and emergency rental assistance to more than 6,500 households.

czb was instrumental in designing a levy program for the City of Seattle, WA, which now plays a central role in the city’s affordable housing delivery system.

Since 1981, Seattle voters have approved one bond and five tax levies to create an affordable housing fund.

The city has now funded more than 12,500 affordable apartments for seniors, low-and moderate-wage workers, and formerly homeless individuals and families and has provided homeownership assistance to more than 900 first-time, low-income home buyers and emergency rental assistance to more than 6,500 households.

Population

Median Household Income

%

of adults have a bachelor's degree or higher

%

of all households live in poverty

“How can the City of Seattle continue to maintain a range of affordable housing options even as the city’s tech and other industries flourish?”

For every $1 invested by the Seattle Levy, approximately $4 is leveraged from external public and private funding. Funds from the bond and levies have been used in five programs since the program’s inception:

Capital grants for new construction and preservation of rental housing units

Funding for operations and maintenance of existing housing

Rental subsidies

Assistance for homebuyers

A loan fund for acquisitions and other related opportunities

More than half of the funding for new construction and preservation is dedicated to serving households that earn less than 30% of the area median income. The homebuyer’s program makes low-interest loans available to first-time homebuyers who earn less than 80% of the area median income. These loans can be used to make down payments.

In August 2016, more than 70% of Seattle voters approved a new $290 million levy. Since 1981, the City of Seattle has invested nearly $400 million into levy program funds.

“Seattle voters put their money where their hearts are.”

czbLLC

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2001 Mount Vernon Avenue
Alexandria, VA 22301

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czbLLC

2017, czbLLC. all rights reserved

2001 Mount Vernon Avenue
Alexandria, VA 22301

703.548.3708
info@czb.org

What  |  How  |  Where
Team  |  News  |  Insights
Contact