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Home My WebLink About2025-01 2026 Work Plan and Budget------------------------------- Resolution No. 2025-01 May 16, 2025 Page 2 of 7 RESOLUTION 2025-01 – ATTACHMENT A SKHHP 2026 WORK PLAN PURPOSE Establish a 2026 SKHHP work plan and budget that is guided by Executive Board priorities, is consistent with the SKHHP Interlocal Agreement, and furthers SKHHP’s mission. BACKGROUND Established by an interlocal agreement, SKHHP jurisdictions work together and share resources to increase options for South King County residents to access affordable housing and preserve existing affordable housing. The 2026 SKHHP work plan builds on work done in previous years and was developed in collaboration with the Executive Board and staff work group. The work plan is organized into four goals with corresponding action items. Each action is identified by priority as follows: • Higher – Identified as higher priority by Executive Board or is necessary to carry out the Interlocal Agreements • Medium – Identified as mid-level priority • Lower – Identified as lower priority Quarterly budget and progress reports on the status of the work plan elements will be submitted to the SKHHP Executive Board and the legislative body of each member jurisdiction as follows: Quarter 1: May | Quarter 2: August | Quarter 3: November | Quarter 4: February In accordance with the Interlocal Agreement, the 2026 SKHHP work plan and budget will be approved by the SKHHP Executive Board and the legislative body of each member jurisdiction. SKHHP MISSION South King County jurisdictions working together and sharing resources to create a coordinated, comprehensive, and equitable approach to increasing housing stability, reducing homelessness, and producing and preserving quality affordable housing in South King County. GOALS & ACTIONS Goal Actions 1. Fund the expansion and preservation of affordable housing. 1 through 5 2. Develop policies to expand and preserve affordable housing. 6 through 10 3. Serve as an advocate for South King County. 11 through 16 4. Manage operations and administration. 17 through 22 ------------------------------- Resolution No. 2025-01 May 16, 2025 Page 3 of 7 Goal 1 Fund the expansion and preservation of affordable housing. Actions Priority of Actions ••• = Higher •• = Medium • = Lower 1. Pool resources from member cities for the Housing Capital Fund, including SHB 1406 funds, HB 1590 funds, and general funds. ••• 2. Develop and execute contract documents and covenants for projects ready to move forward from 2023-24 Housing Capital Fund funding rounds. ••• 3. Facilitate approval from participating Councils of recommended projects from 2025 Housing Capital Fund funding round and prepare contract documents and covenants for any projects ready to move forward. ••• 4. Manage 2026 Housing Capital Fund funding round including adopting annual guidelines, updating application materials, soliciting proposals, and facilitating project selection. ••• 5. Encourage investment in South King County by private investors, lenders, and philanthropies. •• Indicators o Number of housing units and number of projects funded with financial support from SKHHP o Number of housing units preserved with financial support from SKHHP o Total dollar amount pooled by member jurisdictions for Housing Capital Fund o Total dollar amount from new sources of revenue added to the Housing Capital Fund o Geographic diversity of applications received for annual Housing Capital Fund funding round ------------------------------- Resolution No. 2025-01 May 16, 2025 Page 4 of 7 Goal 2 Develop policies to expand and preserve affordable housing. Actions Priority of Actions ••• = Higher •• = Medium • = Lower 6. Facilitate implementation of subregional affordable housing preservation strategies in coordination with South King County long- range planners. •• 7. Facilitate updates to the Affordable Housing Inventory Dashboard. •• 8. Convene land use planners (SoKiHo) to increase coordination and collaboration on housing policy and planning. • 9. Build relationships with developers to learn from their perspective the ways to encourage housing development, especially affordable housing. • 10. Develop SKHHP Executive Board briefings on key housing and homelessness topics, especially as they relate to the goals of the work plan. • Indicators o Number of subregional housing preservation strategies facilitated or supported o Successful progress on update to the Affordable Housing Inventory Dashboard o Number of relationships fostered with developers o Number of Executive Board briefings on key housing and homelessness topics ------------------------------- Resolution No. 2025-01 May 16, 2025 Page 5 of 7 Goal 3 Serve as an advocate for South King County. Actions Priority of Actions ••• = Higher •• = Medium • = Lower 11. Work collaboratively with public funders at the state and local levels to increase alignment and promote shared affordable housing goals and equitable geographic distribution of resources. •• 12. Coordinate with the Advisory Board in collaboration with housing organizations and stakeholder groups to provide education and engagement opportunities for elected officials and community members. • 13. Represent SKHHP at relevant local and regional meetings and forums that help advance SKHHP’s mission and provide a voice for increasing access to safe, healthy, and affordable housing in South King County. • 14. Connect affordable housing developers with property owners who intend to sell naturally occurring affordable housing in coordination with member cities. • 15. Meet with legislators as opportunities arise to inform about SKHHP’s mission, goals, and the Housing Capital Fund and host a legislative forum (odd numbered years). • 16. Organize a tour of affordable housing sites in South King County with priority given to visiting Housing Capital Fund supported projects (even numbered years). • Indicators o Number of collaborative work sessions held with public funders o Number of events or engagement opportunities Advisory Board members organize or support o Number of meetings, forums, or events attended that advance SKHHP's mission o Number of meetings with legislators that promote SKHHP and South King County o Number of affordable housing developers connected with property owners intending to sell naturally occurring affordable housing o South King County legislative forum or affordable housing tour successfully executed ------------------------------- Resolution No. 2025-01 May 16, 2025 Page 6 of 7 Goal 4 Manage operations and administration. Actions Priority of Actions ••• = Higher •• = Medium • = Lower 17. Develop annual work plan and budget. ••• 18. Generate and distribute quarterly progress reports to SKHHP Executive Board and member jurisdictions. ••• 19. Work with administering agency to maintain records and produce regular financial reports for the SKHHP Housing Capital Fund and SKHHP Operating Account. ••• 20. Organize and host monthly Executive and Advisory Board public meetings. ••• 21. Establish and implement monitoring and compliance process to ensure Housing Capital Fund projects maintain affordability for tenants. ••• 22. Maintain and update the SKHHP website. •• Indicators o Work plan and budget adopted o Quarterly progress reports prepared and presented to Executive Board o Financial reports and public records maintained o Monthly Executive and Advisory Board meetings held o Process established for monitoring and compliance of Housing Capital Fund projects o Website maintained ------------------------------- Resolution No. 2025-01 May 16, 2025 Page 7 of 7 RESOLUTION 2025-01 – ATTACHMENT B 2026 SKHHP Operating Budget Estimated beginning fund balance - January 1, 2026 $ 337,293 Estimated ending fund balance - December 31, 2026 $ 293,417 REVENUES Auburn $ 52,295 Burien $ 30,171 Covington $ 15,086 Des Moines $ 15,086 Federal Way $ 68,386 Kent $ 68,386 Maple Valley $ 15,086 Normandy Park $ 8,045 Renton $ 68,386 SeaTac $ 15,086 Tukwila $ 15,086 King County* $ 68,386 Additional King County* $ 6,614 Office space (in-kind donation) $ 12,000 TOTAL REVENUES $ 458,099 Spend down balance $ 43,876 TOTAL $ 501,975 EXPENSES Salaries & Wages $ 253,191 Benefits $ 68,296 Professional Services $ 81,945 Interfund Allocations $ 40,000 Office Space (in-kind donation) $ 12,000 Supplies $ 2,000 Subtotal $ 457,432 Administering agency - 10% admin fee** $ 44,543 TOTAL $ 501,975 RESERVE TOTAL $ xxx,xxx *King County contribution based on the population of unincorporated King County is shown as increasing at the same rate as other partner jurisdictions and the additional allocation decreasing to maintain a total contribution of $75,000 per year. **10% administrative fee is calculated as a percentage of operating costs which excludes in-kind donations and carry-forwards.