Resolution 7283 - Laserfiche WebLink

F, 1S/7: 0141P 4001,'41 NiiiiiJ J i RESOLUTION NO. 7283 A JOINT RESOLUTION OF THE EVERETT CITY COUNCIL AND MAYOR SUPPORTING CHANGES TO THE WASHINGTON CONDOMINIUM ACT. WHEREAS,the Puget Sound region is one of the most appealing, attractive and desirable places in the country to live; WHEREAS, between 2018 and 2050 the central Puget Sound region is expected to grow by an additional 1.8 million residents, comprising 830,000 new households (PSRC data); WHEREAS,the central Puget Sound region has experienced sustained employment growth since 2010, with exceptionally strong job growth since 2014 resulting in a dramatic surge in the demand for housing; WHEREAS, housing construction has increased substantially after recording a low in 2011,yet the construction of new housing units is not keeping pace with job growth and consumer demand and only this year is approaching pre-recession levels of new housing production; WHEREAS,the Washington Growth Management Act(GMA) planning goal for housing is to encourage the availability of affordable housing to all economic segments of the population of this state, and to promote a variety of residential densities and housing types; WHEREAS, condominiums represent infill development that promotes GMA planning goals; WHEREAS, meeting the housing needs of diverse households across a range of income levels is integral to creating a region that is livable and accessible for all residents, economically prosperous, and environmentally sustainable; WHEREAS, homeownership has provided families with a sense of emotional and financial stability and, historically, has boosted household wealth through equity and appreciation; WHEREAS, homeownership plays a vital role in helping to build strong, stable communities through a myriad of social benefits including volunteerism, improved health, and reduced crime; WHEREAS,the housing market has been a driving force in our economy, with the Bureau of Economic Analysis estimating that it accounted for approximately 12.3%of our gross domestic product in 2017;