Sign on letter - $600 million for homes!

Everyone should have the opportunity to live in a safe, healthy, affordable home. But in Washington, housing costs are out of reach for many families and individuals. The lack of affordable housing has reached a crisis point in communities across Washington, impacting the overall health and vibrancy of cities and town across the entire state.  
 
This crisis has led to rapid increases in homelessness, people of color and low-income households being displaced from communities of opportunity, fewer households having access to homeownership, and has put the lowest income households at risk of losing their homes. 71% of the lowest income households – those earning 30% of the median income or below – are spending more than half their income for housing, putting them at severe risk of homelessness.  
 

We, the undersigned, stand with Washington residents in small towns, big cities, rural, and suburban communities who want solutions to the affordable housing crisis. This is the time for bold action. 
 
We call on the Washington Legislature to pass a $600 million funding package to build affordable homes for 17,000 low-income households in Washington. 
 
Invest $200 million in the Housing Trust Fund from the capital budget.  
The Housing Trust Fund invests in affordable homes across Washington, but in recent years it has been considerably underfunded. A $200 million investment in the Housing Trust Fund will enable communities to build safe, healthy, affordable homes that are guaranteed to be affordable for at least 40 years. 
 
Allow local communities to retain a portion of the state’s sales tax. 
Communities need local resources that they can couple with state and federal dollars to build more affordable homes. Allowing local jurisdictions to keep a portion of the tax dollars they already collect and use them to build affordable homes is a smart use of existing resources. Allowing communities to bond against these dollars ensures a significant infusion of housing capital now. 
 
Make the state’s Real Estate Excise Tax work for affordable housing. 
Reforming the Real Estate Excise Tax to decrease the rate on lower valued properties and increase it on higher valued properties would make the tax more progressive and raise additional revenue. This revenue should be invested in the Housing Trust Fund to help solve the affordable housing shortage and create an ongoing, dedicated fund stream.