By Lina Garcia
November 4, 2002

An $86 million housing levy was recently passed in the city of Seattle that will make it easier for many residents to find affordable housing in communities throughout the city. The Levy was proposed by Seattle Mayor Greg Nickels and received a 54 percent margin of approval by voters in the September primary.

"Our goal is simple, to extend our stock of affordable housing," said Seattle Mayor Nickels.

The $86 million package will cost the average $310,000 homeowner about $49 per year. The seven-year levy will pay for construction of low-income apartments, emergency aid for renters in danger of eviction and subsidies for some first-time homebuyers.

Most of that would bankroll programs serving the poorest Seattle residents, who earn 30 percent or less of the areas median income, or $23,000 for a family of four. The other portion of the Levy, $56 million, would provide loans to nonprofit housing groups to build or preserve more than 2,000 units of affordable housing and assist more than 300 families in purchasing a home.

The housing Levy was passed during a time of rising mortgage rates and homelessness. According to the Seattle Housing Authority, there are 6,800 applicants on its waiting list. And there are over 1,400 homeless in Seattle — a 16 percent increase over previous years. To put the problem in perspective, in order to purchase a home in Seattle, the average $310,000 home would require an average family income of more than $80,000 per year.

This is the forth time since 1981 that Seattle voters have agreed to raise property taxes to pay for affordable housing projects. Voters chose similar ballot measures in 1981, 1986, and most recently in 1995. According to Mayor Nickel's office, each past Levy has outperformed its goals and City-funded projects have received funding from other sources, leveraging about $4 for every dollar of Levy funds.