Friends
and
Neighbors,
As
so
many
of
you
know,
King
County
is
facing
a
housing
crisis.
Rents
continue
to
rise
and
home
prices
soar
while
many families
have
been
left
behind
during
the
recent
economic
“recovery.”
In
South
King
County,
almost
23,000
families
are
spending
more
than
50%
of
their
income
on
rent.
That
is
why,
as
Chair
of
the
Budget
Committee,
I
am
excited
to
announce
that
this
morning
I
unveiled
a
plan
to
invest
$87
million
in
new
affordable
housing
projects
located
near
transit
stations.
The
County
Executive‘s
$48
million
plan
is
a
great
start,
but
I
believe
we
can
do
better.
There
are
now
over
4,500
men,
women
and
children
without
shelter
a
19%
increase
from
last
year
we
must
do
better.
Working
with
Councilmember
Balducci
(Bellevue),
I
have
identified
several
different
financing
strategies
so
we
can
build
many
more
units
of
affordable
housing
as
soon
as
possible.
I
look
forward
to
working
with
housing
advocates,
the
County
Executive
and
my
Council
colleagues
to
build
more
affordable
housing
in
King
County
as
quickly
as
possible.
Sincerely,
Dave
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