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12. The Housing Element of the City's adopted Comprehensive Plan includes several policies <br /> concerning home ownership, including the following: <br /> Objective 4.6 Promote programs and consider enacting incentives that increase the <br /> opportunity for residents to purchase housing in the Everett Planning Area. <br /> Policy 4.6.1 Consider changes to development regulations that provide alternatives for <br /> home ownership to the increasingly unaffordable single-family detached dwelling. <br /> Policy 4.6.2 Consider providing incentives to housing developers that encourage housing <br /> types that are attractive and affordable to first time and moderate-income homebuyers. <br /> Policy 4.6.4 Consider establishing administrative, regulatory, and financial incentives <br /> that increase opportunities for homeownership, especially considering that most <br /> housing developments in the future in Everett will be multiple family housing. <br /> 13. The portion of Everett's housing stock that is owner-occupied (46%according to recent Census <br /> data) is lower than the four-county Puget Sound regional average (60%) and nearly the lowest of <br /> any jurisdiction within the region. <br /> 14. Everett's ability to increase its rate of homeownership, in particular for historically marginalized <br /> communities and communities of color, will have positive benefits felt throughout the City. <br /> NOW,THEREFORE, BE IT RESOLVED BY THE MAYOR AND EVERETT CITY COUNCIL THAT: <br /> The Everett City Council adopts the Rethink Housing Action Plan and directs staff to begin work on the <br /> implementation plan as presented to the council on October 6, 2021. <br /> The Everett City Council further directs staff to develop and recommend strategies to support <br /> homeownership at a broad range of income levels. Recommended strategies and supporting materials <br /> should be provided to the council in a report, supplement to the housing action plan, or appendix to the <br /> upcoming comprehensive plan periodic update. <br /> /1(44g—R/4 <br /> Co ncilmember introducin resolution <br /> Passed and approved this 6th day of October, 2021. <br /> 1 • . <br /> Council President <br /> az RESOLUTION Page 2 of 2 <br />