WR Support for Improving the GMA, Housing Supply, and Low-Income/Homeless Housing Programs
Lack of buildable land, low housing inventory, and skyrocketing prices continue to impact families in many parts of Washington State. REALTORS® are supporting a number of different proposals to address these problems that will assist buyers and renters at all levels of income and need.
Senate Bill 5254
- Improve the process in the Growth Management Act used to analyze the availability of land for housing in Buildable Lands Reports.
- Streamlines permitting and environmental review for multi-family or high-density housing developments.
- Ensure that housing market metrics such as affordability and inventory are reviewed in areas where housing issues like price & supply are most problematic.
- Reinforce that the GMA’s population projections assigned to cities are not maximum growth levels, but minimums that cities may choose to exceed.
- Ensure that local GMA Comprehensive Plans can be adopted using the most up-to-date data on population projections from the Office of Financial Management.
- 10-year extension of the $40 document recording surcharge that funds local homelessness programs to 2027, to match proposed revisions to the state’s homelessness prevention plan requirements.
- Allow local Real Estate Excise Tax (REET) revenue to be used for capital costs of homelessness housing until 2019, as a source of funding until cities have authority to seek an additional .1% sales tax for low-income housing and homelessness programs.
- Modify the existing property tax exemption for construction of new affordable housing units to apply to the preservation of existing housing units made available to low-income tenants.
Bill Being Drafted
- Stimulate the market for condominium construction by reforming condominium construction liability laws based on University of Washington Runstad Center Report.
DOWNLOAD A PDF VERSION