HomeMy WebLinkAboutFinalAgendaPacket_SKHHP_ExecutiveBoard_2025_2_21SKHHP Executive Board
February 21, 2025, 1:00 – 3:00 PM
Virtual Meeting
Video conference:
https://us06web.zoom.us/j/99857398028?pwd=eXFiMmJpQm1abDZmMmRQbHNOYS8
ydz09
OR by phone: 253-205-0468
Meeting ID: 998 5739 8028 Password: 085570
I. CALL TO ORDER
a.
b.
AND ADVISORY BOARD REPRESENTATIVE
II. PUBLIC COMMENT
III. APPROVAL OF JANUARY 17, 2025 MINUTES
Motion is to approve the January 17, 2025 SKHHP
Executive Board meeting minutes.
1:12
1:13
Presenter: Claire V. Goodwin, SKHHP Executive Manager
Purpose: To elect a Chair and Vice-Chair to the SKHHP
Executive Board.
Background: Chair and Vice-Chair elections are held annually
to serve a 1-year term and are elected from the appointed
members of the Board. The Chair of the Executive Board
presides over meetings of the Executive Board. The Vice-
Chair, in the absence of the Chair, performs all duties
incumbent upon the Chair.
Prior to the meeting, nominations were received as follows:
• Nancy Backus for Chair
• Dana Ralph for Vice-Chair
Other nominations for Chair and Vice-Chair positions may be
brought forward at the meeting.
Motion is to approve the nomination for Chair.
Motion is to approve the nomination for Vice-Chair.
VI. BOARD BRIEFING 1:20
a. Washington State Housing Finance Commission
(WSHFC) Overview
Presenter: Lisa Vatske, Director, Multifamily Housing and
Community Facilities
Purpose: Provide an opportunity to learn about the work of
WSHFC, including the Low-Income Housing Tax Credit
(LIHTC) program and how it fits into SKHHP funded projects.
Background: The LIHTC program was created in 1986 as part
of the Tax Reform Act. It was designed to incentivize private
investment in affordable housing by offering tax credits to
developers. The LIHTC program has become the primary
source of funding for affordable housing development in the
United States. WSHFC oversees the LIHTC program in
Washington state.
For review, discussion, no action proposed.
VII. BOARD BUSINESS CONTINUED
a. 2024 ANNUAL AND QUARTER 4 REPORT
Presenter: Claire V. Goodwin, SKHHP Executive Manager
Purpose: Presentation of the 2024 annual and quarter 4
budget and progress report for Executive Board review.
Background: Staff provides quarterly budget and progress
reports consistent with the SKHHP Interlocal Agreement. The
quarter 4 progress report serves as the annual report. The
report serves as an accountability and progress update as well
as a tool for Board members to update their member Councils
and other interested parties. Staff presentation followed by
Board discussion provides the opportunity for feedback prior to
finalization and distribution to member jurisdictions.
For review, discussion, and Board feedback only, no
action is proposed.
Presenter: Dorsol Plants, SKHHP Program Coordinator
Purpose: A brief update of legislation introduced for the 2025
State Legislative Session with a focus on housing and land
use.
Background: The Washington State Legislature convened for a
regular session beginning January 13, 2025. SKHHP staff will
monitor and provide updates on legislation connected with
housing at the monthly Executive Board meetings. Special
focus will be provided on any bills which further SKHHP’s
adopted legislative priority, “to fund all aspects of affordable
housing.”
2:20
d. GENERAL UPDATES
Presenter: Claire Goodwin, SKHHP Executive Manager
Purpose: General updates.
Background: An opportunity to receive any updates since the
last Executive Board meeting.
For review and discussion, no action is proposed.
2:30
2:35
2:40
SKHHP Executive Meeting
January 17, 2025
MINUTES
I. CALL TO ORDER
Nancy Backus called the meeting to order at 1:00 PM.
ROLL CALL/ESTABLISHMENT OF QUORUM
Executive Board members present: Nancy Backus, City of Auburn; Merina Hanson, City of
Kent; Liz Stead, City of Burien; Kristina Soltys, City of Covington; Traci Buxton, City of Des
Moines; Brian Davis, City of Federal Way; Victoria Schroff, City of Maple Valley; Carmen Rivera,
City of Renton; Dennis Martinez, City of Tukwila; Sunaree Marshall, King County.
Others present: Claire Goodwin, SKHHP Executive Manager; Jason Krum, City of Auburn;
Sharon Lee, LIHI; Victoria Chow, LIHI.
II. PUBLIC COMMENT
No public comment was provided.
III. APPROVAL OF NOVEMBER 15, 2024 MINUTES
Motion to approve the November 15, 2024 minutes as presented. Motion passed (10-0)
IV. AGENDA MODIFICATIONS
No modifications to the agenda were made.
V. BOARD BRIEFING
a. MEET THE DEVELOPER: LOW INCOME HOUSING INSTITUTE (LIHI)
Sharon Lee provided an overview of the current projects LIHI operates in South King County.
LIHI is working with the City of Tukwila on setting up a new tiny house village, and there are
some rehabilitation needs at White River Gardens. LIHI is actively researching new projects to
develop or rehabilitate in South King County.
Some of the challenges LIHI has faced in South King County are the high parking requirements
some jurisdictions have. Especially for infill housing projects, it can be highly difficult to meet the
parking requirements, and the household car ownership ratio is different. Sometimes, it can also
be challenging to understand the timing around permits; while some jurisdictions have worked to
establish a clear understanding of the timing, other areas, like unincorporated King County,
have uncertain timeframes. The amount of design review for projects can be another challenge.
King County AMI is very high, and when working in South King County, it can be difficult to
match households with appropriate income requirements. Lastly, even though land costs in
South King County are low compared to the rest of the region, the construction costs are still the
same, and they are very high right now.
Victoria Chow reviewed the history of the Skyway Mixed Use project, which began when
Childhaven invited LIHI in 2023 to view their property in unincorporated King County.
Unfortunately, an incline on the initial property prevented further development, but Sharon Lee
noticed the adjacent property, which became the project's future site. Skyway Mixed Use will
provide 54 units of affordable housing, serving households with 30-50% AMI, including
households exiting from homelessness. The site will include four early learning center
classrooms serving eighty local students. The project is intended to have many larger units to
serve larger family sizes, and 50% of the units will be 2- or 3-bed units. Parking requirements
were a particular challenge for this project, and to accommodate the required amount of
parking, an additional parcel had to be purchased. Victoria Chow noted that King County has
made some changes in its recent Comprehensive Plan updates to make the parking
requirements easier for affordable housing.
Sharon Lee reviewed the design plans for the Skyway Mixed Use project.
Sharon Lee reviewed the project's development budget, totaling $41 million for the residential
development and $5.5 million for the early learning center. The project included several public
funders, including SKHHP. King County had awarded additional funding the day before the
presentation. Rep. Adam Smith helped secure federal funding for the project as well.
Victoria Chow explained that LIHI is in the process of coming up with a name for the project and
will work with the community to include its deep history. The project is in the process of being
permitted and is waiting to receive an update on the LIHTC credits, which should fully fund it.
LIHI is creating an RFP for general contractors for the project.
Dennis Martinez asked where the five hotels LIHI had purchased were located. Sharon Lee said
two were in Tacoma, alongside hotels in Lacey, Lakewood, and Whidby Island.
Dennis Martinez asked if the house located in Tukwila was for single-family use. Sharon Lee
confirmed it was.
Dennis Martinez asked how the siting of the new tiny house village in Tukwila was going.
Sharon Lee said LIHI recently met with the Mayor and the Human Services Planner and is still
in early discussions. The pastor of the church was very interested in hosting the village. Sharon
Lee said that they are waiting for the mayor to approve the operations budget.
Dennis Martinez asked if there was a community work agreement for the general contractor at
the Skyway Mixed Use site. Sharon Lee said LIHI follows the county and state requirements for
wage rates and apprenticeship participation.
Victoria Schroff asked if the green roof component of the Skyway Mixed Use project helps
reduce cooling costs or provides other benefits beyond beautification. Sharon Lee said the
project has been following the Evergreen Sustainable Development Standards, which helps
reduce utility costs. LIHI uses solar panels to help reduce costs on other projects.
VI. BOARD BUSINESS
a. 2022 STATE LEGISLATIVE UPDATE
Claire Goodwin informed the Executive Board that the 2025 state legislative session had begun
on January 13, 2025 and reminded the Board that SKHHP staff had been directed not to lobby
on behalf of SKHHP for any bill or our legislative priority.
In previous years, SKHHP staff have served as a resource for state lawmakers to ensure
awareness around SKHHP's work, primarily related to the Housing Capital Fund. The Board has
provided feedback that SKHHP staff updating the Board on some of the bills during sessions
pertaining to housing and land use is helpful so that information can be taken back to the Board
members’ jurisdiction. SKHHP staff will provide legislative updates at the monthly Executive
Board meeting throughout the session.
Claire Goodwin reviewed SKHHP’s adopted legislative priority and the legislative timeline,
noting that Sine Die is scheduled for April 27.
Washington State is facing a budget shortfall of around $13 billion over the four-year forecast.
Governor Ferguson has indicated his interest in budget reductions, so it will be a tough year for
budget writers and decision-makers.
Nancy Backus shared that HB 1380 had been introduced the day before and was related to
unhoused encampments and litigation. The bill could be of significant interest to cities as it puts
liability on the jurisdiction to prove the presence of open shelter beds before moving
encampments. The first hearing is on January 21, 2025, at 4:00 PM. Nancy Backus, Eric
Zimmerman, and others have signed up to testify about the bill. Claire Goodwin confirmed that
SKHHP staff would add HB 1380 to the legislative tracker.
b. 2025 EXECUTIVE BOARD MEETING DATES
Nancy Backus informed the Board that the dates of the 2025 SKHHP Executive Board meetings
were provided in the Agenda Packet. The SKHHP Executive Board meeting is held on the third
Friday of every month from 1:00 to 3:00 PM. Four meetings will be held in person on March 21,
June 20, September 19, and December 19. In-person meetings are typically held at Auburn City
Council Chambers.
Claire Goodwin highlighted a potential conflict since the June 20 date falls the day after
Juneteenth but is a scheduled workday. Nancy Backus added that the US Conference of
Mayors also occurs that week. Claire Goodwin stated she would send around a survey to see if
June 13 would work to reschedule the June Executive Board meeting.
c. 2026 WORK PLAN AND FIVE-YEAR PLAN SURVEY
Claire Goodwin introduced the 2026 work plan survey, a key method for SKHHP staff to receive
feedback and inform her of the Executive Board's thoughts as staff begin to develop the draft
2026 work plan.
Claire Goodwin hopes to work with the Board on developing a five-year plan with strategic
objectives. The plan is to work on this at the three in-person Executive Board meetings. SKHHP
staff developed the survey to prepare for the in-person workshop at the March Executive Board
meeting and to start the five-year visioning process.
Claire Goodwin noted that some Board members had already begun working on the survey.
She would provide fifteen minutes during the meeting for the remaining Board members to
complete the survey.
The Executive Board was provided fifteen minutes to complete the survey.
For Board members needing more time, the survey will remain available until Friday, January
24.
d. GENERAL UPDATES
Claire Goodwin acknowledged Traci Buxton and Sean Kelly for their longtime service on the
SKHHP Executive Board; both will be stepping away from their roles with SKHHP. Katherine
Caffrey, Des Moines City Manager, will be serving in an interim role on the Board until the
permanent member is selected. Victoria Schroff, formerly Maple Valley's alternate, will become
Maple Valley's official representative, and Syd Dawson will serve as the alternate for Maple
Valley. Anyah Zupancic will serve as Burien's alternate, taking over for Colleen Bradt-Schluter
who recently went not into retirement, but refirement.
Claire Goodwin reminded the Board that the SKHHP Chair and Vice-Chair elections will be held
next month. So far, only Nancy Backus and Dana Ralph have submitted their names for
nomination. Additional nominations are still being accepted, and SKHHP staff can receive them
by email before the end of next week.
Claire Goodwin is still working to schedule 1-on-1 meetings with Executive Board members and
will reach out by email after the meeting.
Claire Goodwin used the discussion at the November meeting to develop a written policy related
to communicating changes to SKHHP-funded Housing Capital Fund projects. SKHHP staff will
also present the 2024 Housing Capital Fund recommendation adopted in November to SKHHP
member city councils for concurrence.
Claire Goodwin reviewed changes to the Pandion at Star Lake that TWG is developing in the
City of Kent. The Executive Board had recommended funding for the project in the 2023 and
2024 funding rounds. Pandion at Star Lake did not secure the needed public and private funds
this funding round to begin construction. The construction timeline has been moved until funds
can be secured to fill the $30 million gap. SKHHP's awards will assist the project in future
applications to funders. The SKHHP award is valid until March 2027, which provides time to
secure additional funding. TWG is working on a plan with their financial counsel on how to
proceed. The City of Kent is supportive of proceeding with awarding the Pandion of Star Lake,
providing the project continues to provide 30% AMI units for larger households near light rail.
TWG has been a good partner with the city.
At the next Executive Board meeting, SKHHP will host a representative from the Washington
State Housing Finance Commission to introduce the Low-Income Housing Tax Credit program
(LIHTC).
Claire Goodwin informed the Executive Board that the Department of Commerce released a
rental registry study mandated by the 2023-25 state legislature this week.
Claire Goodwin informed the Executive Board that the King County Affordable Housing
Committee is recruiting to fill vacancies and would provide additional information for Board
members interested in joining the committee.
VII.UPDATES/ANNOUNCEMENTS
Sunaree Marshall informed the Executive Board about the third annual Affordable Housing
Symposium hosted by the HDC on Wednesday, January 29, at Bellevue College.
Nancy Backus added that housing is perhaps the number one topic at the US Conference of
Mayors. Data was shared that the need for housing throughout the generations is declining
nationwide. Over the next couple of decades, the demand for housing may be reduced as the
generations following the "Baby Boomers" are declining in size. Nancy Backus said she would
share the information learned at the conference before the next board meeting.
VIII.ADJOURN
Nancy Backus adjourned the meeting at 2:24 PM.
WSHFC Overview
Lisa Vatske
Director, Multifamily Housing
& Community Facilities
Presentation to the South
King Housing and
Homelessness Partners
Executive Board
February 21, 2025
wshfc.org
•Created by state law in 1983
•A self-sustaining state agency
•Nimble, innovative, market-driven
40 Years of Impact
Housing Finance Commission
We work to provide equitable access to capital
through strong partnerships and innovative financing
to create and sustain affordable rental housing,
homeownership, and community spaces across
Washington State.
Our Mission
•Key tools: Federal tax credits and bonds,
working with state and local funds
•Partnering with for-profit developers, nonprofit
organizations, housing authorities, Tribes,
community-based orgs and more
•Housing everyone from homeless to seniors to
families, in all kinds of communities
•Rent- and income-limited
•Housing is monitored for 30-40 years to ensure
it remains safe, decent and affordable
Multifamily Rental Housing
Over 100,000 Affordable
Apartments Created or Preserved
4
Low Income Housing Tax Credit (LIHTC)
•Federal revenue program governed by IRS
•Depends on private market equity—investors purchase credits
•Leverages Housing Trust Fund, local levies, HUD rental
subsidies, and other public resources
•Highly competitive – coordinated with other public funders
Key Financing Tools
Tax-Exempt Bond Financing
•Debt—not equity like tax credits
•Works in tandem with lower-subsidy LIHTC credits
•WSHFC can recycle bonds and reissue them
Housing Tax Credit Financing
5
The developer
sells the credits
to investors,
who use them to
offset federal
taxes. Investor
equity then goes
into the project.
Housing Finance Agency
allocates tax credits
to a developer
Developers include for-
profits, nonprofits, housing
authorities, tribes, etc.
Monitors properties for affordability
& safety for 30-40 years
builds/renovates
property
Reports violations to IRS Other funding also goes into the
project—state, local, etc.
housing
developer
Tax-Credit Market Pricing
LIHTC allocation
$900,000
$8.73 million $7.65 million
97¢85¢
Investor offers
price per credit
EQUITY
($900K x price x 10)
Price per credit
determines how much
is invested in housing
Coordination with Housing Trust Fund
40% of
properties
jointly
financed
WSHFC/LIHTC
Commerce –
Housing Trust Fund
•$1 of state Housing Trust Fund leverages $5.35
of tax-exempt bonds and federal tax credits
•Close collaboration and alignment (pipelining)
Low-Income Housing Tax Credit
How Does the Credit Work
with Other Funding Sources?
(A typical stack from recent data)
Local Funds include city and county
Federal
Funds
Local Funds
3%
Sponsor Funds
14%
LIHTC Private Equity
36%
Private Debt
45%
State Funds
2%
MHCF
Low-Income Housing Tax Credit
Land/Acquisition Costs
25%
Construction Costs
(including material and labor)
51%
Professional Fees
13%
Financing Costs
5%
Capitalized Reserves
2%
Other Development Costs
4%
How is LIHTC Equity Spent in
Housing Projects?
(A typical project from recent data)
MHCF
•New Framework for Bond Cap Allocation
Grounded in Values and Outcomes - reset in 2021 for 2022-2023
✓Sets targets and prioritizes projects with point system in comparable buckets
✓Big pivot to consider By and For Community
✓Focused on workforce housing and a mix of households at 50-60% of
Area Median income
•9% Annual Competition based on Points
✓Targets lowest income/highest needs and Permanent Supportive Housing for the homeless
✓Geographic pools- with specific policies for diverse needs throughout the state
Scarce Resources and Competitive Environment
LIHTC Policy Considerations
•Started in 2024
•Fully-funded and permit-ready
•Three-Tiered Invitation to apply list
Developer applies to WSHFC when
project financing is in place
•Bond cap is committed to the project
King County Tiered Process
Stretching resources with private capital
•Microsoft line of credit and land banking
•$250 million no-cost line of credit enables us to
recycle/reissue bonds
•Plus investment to support land banking for housing in east
King County
•Evergreen Impact Housing Fund
•Seattle Foundation/WSHFC with investment from local
credit unions, JPMorgan Chase and Microsoft
•Provides low-interest subordinate loans to supplement
recycled bonds
•Amazon Housing Equity Fund
•Provides low-interest loans supplement recycled bonds
Federal Legislative Updates
Budget and Tax Package Discussions
•Continuing Resolution, Budget Reconciliation, Tax package sunsetting
Affordable Housing Credit Improvement Act
•Champions: Senator Cantwell and Representative DelBene
•Key provisions related to the tax credit program
✓Specific increase to the 9% program- critical due to sunsetting of last increase
✓Lowering of the 50% test to 25% test
✓Many other important policy improvements
Inflation Reduction Act
•Funding, tax credits and rebates for energy efficiency and greenhouse gas reduction
Housing developers
buy land now to develop later
•WSHFC revolving loan fund since 2008
•Created with $1 million each from state and WSHFC
•Land preserved for about 5,711 units
(rental and homeownership)
•Used by nonprofits, local governments, housing
authorities, and Tribes
•Low-interest loan for a maximum term of 8 years
•Loan repayments revolve back into program
•Program has evolved with additional partners to
address emerging needs
Land Acquisition Program
LAP Over Time
$0
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
Cumulative LAP Totals
Total LAP Investment Total Awards
Total Payoffs YOY Available Balance
State and
Commission
start LAP with
$1M each
State investment
of $40M
•Homebuyers in every county across the state
•Loans are made through private lenders to
qualified borrowers
•Downpayment assistance available to all
(zero-interest loan with deferred payments)
•Free, mandatory homebuyer education
classes
•Income limits vary – up to $180K/household
Homeownership
110,000+ homebuyers since 1983
Covenant Homeownership Program
•A downpayment assistance loan program created in
2023 by the bipartisan Covenant Homeownership Act
•Helps first-time homebuyers with deep roots in
Washington state whose families have been affected by
racial discrimination
•Administered by the Housing Finance Commission – works
through our home loan programs
•Provided by lenders across the state
•200+ homebuyers since program launch in July 2024
wshfc.org/covenant
877-894-4663
Help for Homeowners
Foreclosure Counseling
•Free housing counseling through statewide network of nonprofits
overseen by Commission
•Safe, free support to resolve problems with home loans, property
taxes etc.
•Low-to-no cost legal aid
Homeownership Hotline offers free, confidential help:
1-877-894-4663
Federal financial assistance:
•$173 million for Washington homeowners facing
foreclosure due to Covid impacts
•5,576 families assisted
•Sunsets in June 2025
Counseling network
facing critical funding
gaps in 2025
WashingtonHAF.org
Other Programs & Tools
Manufactured Home Preservation
Helps residents of mobile-home parks become
owners of their communities
Habitat for Humanity Partnership
Jump-starts development of Habitat communities statewide
Other Gap Financing and Small Projects
Revolving loan funds to meet critical community needs
Sustainable Energy Trust
Accessible financing for renewable and energy efficiency
projects.
FarmPAI and Beginning Farmer/Rancher
Helps preserve farmland and provide accessible financing
for farmers and ranchers
What Can We Do For You?
•Affordable housing data, examples
and connections
•Policy context – State and Federal
•Financing expertise
Steve Walker
Executive Director
steve.walker@wshfc.org
(206) 287-4427
wshfc.org
Lisa Vatske
Director, Multifamily Housing
& Community Facilities
lisa.vatske@wshfc.org
(206) 287-4467
Thank you!
South King Housing andHomelessness Partners (SKHHP)
1
Who We Are
Formed in 2019 by an
Interlocal Agreement, we
are a collaboration between
11 South King County cities
and King County united
under the common goal
to ensure the availability
of housing for all income
levels of residents in South
King County. We achieve
this through a focus
on the production and
preservation of affordable
housing, partnership
with public and private
organizations, pooling and
sharing resources, and
advancing housing policies.
Purpose
Create a coordinated,
comprehensive, and
equitable approach to
increasing housing stability,
reducing homelessness,
and producing and
preserving quality
affordable housing in South
King County.
Contact
Claire Vanessa Goodwin
Executive Manager
Phone: 253.931.3042
cvgoodwin@skhhp.org
For more info
Scan QR Code or visit
skhhp.org
Goal 1: Fund the expansion and preservation of affordable housing.
New Member to SKHHP – The City of SeaTac formally joined SKHHP in February bringing the total member
jurisdictions to 12.
New Revenue Sources – Two new sources of revenue were committed towards the 2024 Housing Capital
Fund by the cities of SeaTac and Maple Valley resulting in 2024 being the first year that every SKHHP member
city financial contributed to the SKHHP Housing Capital Fund.
2024 Housing Capital Fund – SKHHP member cities pooled $4.1 million in 2024 for eligible applicants to
construct, acquire, or preserve affordable housing in South King County. Four projects were recommended
for funding by the Advisory and Executive Boards: the construction of two multifamily rental projects, one
homeownership project, and the rehabilitation and preservation of one project. Since 2022, over $11.2 million
has been pooled among South King County cities.
Goal 3: Serve as an advocate for South King County.
South King County Advocacy – Met with State Representative and informed statewide leaders throughout
the year about South King County cities work to pool funds to support building and preserving affordable
housing to bring awareness of subregional actions addressing the housing crisis.
Participation in Local Meetings and Forums – Represented SKHHP at 163 regional meetings representing
43 unique groups.
Advisory Board – Appointed six new members to the SKHHP Advisory Board. Refined ideas regarding
Advisory Board-led engagement opportunities for elected officials and community members.
Goal 4: Manage operations and administration.
ILA Requirements – Developed 2025 work plan and budget and 2024 Housing Capital Fund Guidelines for
adoption by Executive Board on April 19, 2024.
Parental Leave – Developed coverage plan for Executive Manager parental leave and SKHHP’s Program
Coordinator, in collaboration with the Interim SKHHP Executive Support, ensured the smooth operation of
administrative functions and maintained the high standards of SKHHP.
2024 Annual Progress Report (January-December)
2024 was a fantastic year for SKHHP! The City of SeaTac joined the coalition and every member city financially contributed to the Housing Capital
Fund. $11.2 million has been pooled by SKHHP cities for the construction and preservation of affordable housing in South King County since 2022.
Subregional Affordable Housing Preservation Strategies – In collaboration with South King County long-
range planners, developed the South King County Affordable Housing Preservation Strategies available
here. Administered a survey to establish alignment on any policies and/or implementing actions adopted by
member Councils through the periodic comprehensive planning process.
South King County Joint Planners and Developers – Facilitated three meetings between planners and
developers on identifying vacant, developable land; working with faith-based organizations on affordable
housing; and upcoming opportunities to develop housing around Sound Transit property.
Executive Board Briefings – Coordinated six presentations to the Executive Board including from two
developers and an introduction to affordable housing finance and tax increment financing.
Goal 2: Develop policies to expand and preserve affordable housing.
SKHHP | 2024 Annual Progress Report (January-December)2
South King Housing and Homelessness Partners
Fund Status as of December 31, 2024
REVENUES OPERATING ACTUAL HOUSING CAPITAL FUND
CONTRIBUTIONS 2024
Auburn $39,543 $ 135,475
Burien $22,814 $64,623
Covington $11,407 $213,657
Des Moines $11,407 $34,012
Federal Way $51,710 $131,715
Kent $51,710 $2,256,716
Maple Valley $11,407 $500,000
Normandy Park $6,084 $5,426
Renton $51,710 $228,107
SeaTac $10,456 $300,000
Tukwila $11,407 $89,289
King County $51,710 -
King County additional
contribution $23,290 -
INTEREST EARNINGS $493,096 -
TOTAL $847,751 $3,959,020
SKHHP COST REIMBURSEMENT DETAIL
EXPENDITURES
Wages $167,383
Benefits $47,421
Supplies $28
Professional Services $33,561
Interfund Allocations $26,250
Administrative fee $27,434
TOTAL $302,076
EXPENDITURES OPERATING
ACTUAL
HOUSING CAPITAL
FUND ACTUAL
SKHHP Cost Reimbursement $274,643 -
Administration Fee $27,434 -
TOTAL $302,076 -
Beginning Fund Balance –
January 1, 2024 $377,489 $7,292,705
Estimated Net Change In
Fund Balance – December 31, 2024 $545,674 $3,959,020
Estimated Ending Fund Balance –
December 31, 2024 $923,163 $11,251,725
SKHHP | 2024 Annual Progress Report (January-December)3
Indicators
Goal 1: Fund the expansion and preservation of affordable housing.
• Number of housing units or number of projects funded with financial support from SKHHP: 4 projects, 406 units (2024); 7 projects,
679 units (2022-24)
• Number of housing units preserved with financial support from SKHHP: 24 (2024); 44 (2022-24)
• Total dollar amount pooled by member jurisdictions for Housing Capital Fund: $3,959,020 (2024); $11,251,725 (2022-24)
• Total dollar amount from new sources of revenue added to the Housing Capital Fund: $800,000 (2024)
• Geographic diversity of applications received for annual Housing Capital Fund funding round: Auburn, Burien, Kent, Renton (2024)
Goal 2: Develop policies to expand and preserve affordable housing.
• Number of preservation policies explored with members of the Executive Board: 16
• Successful update of data and deployment of the Affordable Housing Inventory Dashboard: Yes
• Number of relationships built with developers: 14 (2024); 34 (2022-24)
• Number of Executive Board briefings on key housing and homelessness topics: 6 (2024)
Goal 3: Serve as advocate for South King County.
• Number of events or engagement opportunities Advisory Board members organized or supported: 2 (2024)
• Number of communications published: 4 (2024)
• Number of meetings, forums, or events attended that advance SKHHP’s mission: 160+ (2024)
Goal 4: Manage operations and administration.
• Work plan and budget adopted: Yes
• Quarterly progress reports prepared and presented to Executive Board: Yes
• Financial reports and public records
maintained: Yes
• Commitments of the Affordable Housing Inventory Dashboard contract fulfilled: Yes
• Website maintained: Yes
• Application submitted for SKHHP Foundation 501c3 status: No
2025 State Legislative
Update
Dorsol Plants, SKHHP Program Coordinator
SKHHP Executive Board
Updated as of February 21, 2025
1
SKHHP 2025 Legislative Priority
South King County is facing a growing affordable housing
crisis. In order to address this crisis, we need to fund all
aspects of affordable housing, including:
•Homeownership for moderate income households and below
•Preservation of naturally occurring affordable housing
(NOAH)
•Land acquisition to secure permanent affordability
•Permanent supportive housing (PSH)
•Infrastructure around affordable housing developments
•Workforce housing; especially smaller sized units below 60%
AMI and family sized units at all income levels
2
2025 Legislative Session Timeline
First Day of 2025 Legislative Session
13 Jan.
Policy Committee Cutoff
21 Feb.
Fiscal Committee Cutoff
28 Feb.
AWC’s City Action Days 2025
19-20 Feb.
Chamber of Origin Cutoff
12 March
Opposite Chamber Policy Committee Cutoff
2 April
Opposite Chamber Fiscal Committee Cutoff
8 April
Opposite Chamber Cutoff
16 April
Sine Die
27 April
3
Funding Affordable Housing
Bill Number Description Status
HB 1075
Expanding housing supply by supporting the ability of public housing authorities to
finance affordable housing developments.2/12 - Public Hearing
HB 1206
Expanding eligibility to utilize the multifamily tax exemption program to all counties
required or choosing to plan under RCW 36.70A.040.1/21 - Public Hearing
HB 1210 Concerning targeted urban area tax preferences.
2/11 - Referred to
Rules
HB 1334 Modifying the annual regular property tax revenue growth limit.2/11 - Public Hearing
HB 1480
Allowing all counties to impose a real estate excise tax for the purpose of
developing affordable housing, subject to the will of the voters.1/21 - First Reading
HB 1494
Concerning the property tax exemptions for new and rehabilitated multiple-unit
dwellings in urban centers.2/20 - Public Hearing
HB 1694
Concerning revenues from the excise tax on real estate transactions imposed by
cities and counties under RCW 82.46.035.2/13 - Public Hearing
HB 1696 Modifying the covenant homeownership program.
2/18 - Executive
Action
HB 1717 Creating a sales and use tax remittance program for affordable housing.2/21 - Public Hearing
SB 5591 Creating a sales and use tax remittance program for affordable housing.2/7 - Public Hearing
4
Funding Affordable Housing Continued
Bill Number Description Status
HB 1763 Providing state funding for essential affordable housing programs.2/18 - Public Hearing
SB 5576 Providing state funding for essential affordable housing programs.1/29 - First Reading
HB 1791
Increasing the flexibility of existing funding sources to fund public safety and other
facilities by modifying the local real estate excise tax.2/13 - Public Hearing
HB 1808 Creating an affordable homeownership revolving loan fund program.
2/18 - Executive
Action
HB 1867
Allowing counties or cities to impose a real estate excise tax for the purpose of
developing affordable housing, subject to the will of the voters.2/13 - Public Hearing
HB 1907
Defining the rental or lease of individual storage space at self-service storage
facilities as a retail transaction for the imposition of business and occupation and
sales and use taxes.2/25 - Public Hearing
SB 5711
Defining the rental or lease of individual storage space at self-service storage
facilities as a retail transaction for the imposition of business and occupation and
sales and use taxes.2/10 - First Reading
SB 5553 Providing a sales and use tax incentive for multifamily affordable housing.1/28 - First Reading
SB 5647
Providing a real estate excise tax exemption for the sale of qualified affordable
housing.2/13 - Public Hearing
5
Housing and Land Use
Bill Number Description Status
HB 1195
Concerning compliance with siting, development permit processes and standards,
and requirements for permanent supportive housing, transitional housing, indoor
emergency housing, or indoor emergency shelters.2/20 - Executive Action
Concerning compliance with siting, development permit processes and standards,
and requirements for permanent supportive housing, transitional housing, indoor
emergency housing, or indoor emergency shelters.2/5 - Public Hearing
Concerning the siting of childcare centers.2/22 - Public Hearing
Ensuring compliance with the housing element requirements of the growth
management act.1/21 - Public Hearing
Ensuring compliance with the housing element requirements of the growth
management act.2/18 - Public Hearing
Concerning minimum parking requirements.2/4 - Public Hearing
Concerning minimum parking requirements.2/19 - Third Reading, passed
Allowing objectively reasonable regulation of the utilization of public property.2/12 - Public Hearing
Simplifying condominium construction statutes.2/18 - Referred to Rules
Promoting transit-oriented housing development.
2/19 – Referred to Capital
Budget 6
Housing and Land Use Continued
Bill Number Description Status
HB 1732
Preserving homeownership options by limiting excessive home buying by certain
entities.2/10 - Public Hearing
Preserving homeownership options by limiting excessive home buying by certain
entities.2/13 - Referred to Ways & Means
Establishing land banking authorities.2/18 - Public Hearing
Ensuring that local government planning complies with the growth management
act.2/14 - Passed to Rules
Concerning mobile dwellings.2/3 - Referred to Ways & Means
Streamlining the subdivision process inside urban growth areas.
2/19 - Placed on Second
Reading
Concerning affordable housing development in counties not closing the gap
between estimated existing housing units within the county and existing housing
needs.2/17 - Referred to Ways & Means
Concerning impact fees.2/21 - Executive Session
Expanding and funding the foreclosure mediation program.2/20 - Referred to Ways & Means
Expanding affordable housing opportunities on community and technical college
lands.2/21 - Executive Session
7
Thank you
8
Dorsol Plants, SKHHP Program Coordinator
SKHHP Executive Board
February 21, 2025