Resolution 7700 - Laserfiche WebLink

Introduction Everett Housing Action Plan 3 Further analysis and data related to affordability and displacement in Appendix F indicate: • Only about 27% of homeowners are cost burdened and pay over 30% of their income on housing costs, while 11% are severely cost-burdened and pay over 50%. Given that owners only make up 44% of the total households in the community, this means that housing cost burdens are less on owners in the community. • For renters, however, there are significant housing cost burdens, both with respect to the percentage of renters and with the total number of households. Just under half of all Everett households are cost burdened with respect to housing, with nearly one-quarter severely cost burdened and paying over half their income for rent. • There are several areas of the City vulnerable to household displacement, in particular, around transit corridors. PROCESS The City began re-evaluating housing policy in 2017 and implemented housing initiatives through Rethink Zoning in 2020 and the adoption of the 2020-2024 Consolidated Plan. In 2019, the Washington State Department of Commerce offered grant funding under HB1923 for jurisdictions to develop and adopt community-wide housing action plans that include strategies and implementation actions that promote greater housing diversity, affordability and access to opportunity for residents at all income levels. The City Everett was awarded $100,000 to complete the Rethink Housing Action Plan. Rethink Housing Action Plan Process Rethink Housing Action Plan Advisory Committee In the Fall of 2020, the Mayor appointed 11 members from existing Boards and Commissions to the Rethink Housing Action Plan Advisory Committee. The purpose of the Committee was to review data, understand the need, participate in community outreach sessions, and support a set of policies and strategies that promote housing opportunities for all. Early committee meetings focused on building an informational foundation regarding the housing condition in Everett and identifying the primary goals of the Action Plan. Members also participated in discussions about different alternatives, strategies, Assessment