How Small Tyrants are Having a Big Impact on Rental Affordability in America

8 Apr 2015 | posted in: Uncategorized | 0
BY STAN HUMPHRIES

The tyranny of small decisions (generally well-meaning, one-off policies that can create real costs and limitations when taken together) and the tyranny of local government (in the form of neighborhood NIMBYism) are combining to limit and add expense to affordable rental development, according to participants in a recent Zillow roundtable discussion.

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Seattle Mayor announces affordable housing stretch goal

26 Mar 2015 | posted in: Uncategorized | 0
BY DAVID KROMAN

Mayor Ed Murray announced an ambitious goal to add 50,000 housing units in the city of Seattle Thursday. The units would phase in over the next ten years through partnerships with the non-profit, public and private sectors.

Under Murray’s plan, 20,000 of those units would qualify as affordable housing and 30,000 will be market rate. Exactly how those numbers will be achieved is still unclear, left largely to the Mayor’s Housing Affordability and Livability Advisory Committee (HALA). Their recommendations are due in May.

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Mayor puts a number on ‘affordable housing’

26 Mar 2015 | posted in: Uncategorized | 0

Right now, the Multi-Family Tax Exemption is one incentive the city has been offering developers for some years – if they agree to keep a certain number of units in their projects in certain areas (including West Seattle’s urban villages/centers) at a certain percentage of the area’s median income, they get a 12-year tax break, no property taxes on the residential portion of their buildings.

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