1
00:00:07,073 --> 00:00:16,049
[MUSIC] [MUSIC] 

2
00:00:16,182 --> 00:00:19,119
-- OKAY. FANTASTIC. GOOD 

3
00:00:19,119 --> 00:00:21,187
AFTERNOON EVERYONE. THE AUGUST 

4
00:00:21,187 --> 00:00:22,522
12th, 2026, MEETING OF THE 

5
00:00:22,522 --> 00:00:23,056
HOUSING AND CIVIL RIGHTS 

6
00:00:23,056 --> 00:00:26,092
COMMITTEE WILL COME TO ORDER. IT

7
00:00:26,092 --> 00:00:27,694
IS 2:05 P.M. I'M DIONNE FOSTER,

8
00:00:27,694 --> 00:00:28,628
CHAIR OF THE HOUSING AND CIVIL 

9
00:00:28,628 --> 00:00:30,096
RIGHTS COMMITTEE. WILL THE CLERK

10
00:00:30,096 --> 00:00:33,566
PLEASE CALL THE ROLL? 

11
00:00:33,566 --> 00:00:34,334
COUNCILMEMBER RINCK. PRESENT. 

12
00:00:34,334 --> 00:00:35,668
-- VICE CHAIR. LIN. PRESENT 

13
00:00:35,668 --> 00:00:37,003
CHAIR. FOSTER. PRESENT CHAIR. 

14
00:00:37,003 --> 00:00:38,538
THERE ARE THREE MEMBERS PRESENT.

15
00:00:38,538 --> 00:00:41,908
-- THANK YOU. AND LET THE RECORD

16
00:00:41,908 --> 00:00:42,475
REFLECT. COUNCIL PRESIDENT 

17
00:00:42,475 --> 00:00:43,109
HOLLINGSWORTH AND COUNCILMEMBER 

18
00:00:43,109 --> 00:00:45,645
JUAREZ ARE EXCUSED. IF THERE IS 

19
00:00:45,645 --> 00:00:47,547
NO OBJECTION, THE MEETING AGENDA

20
00:00:47,547 --> 00:00:48,882
WILL BE ADOPTED. HEARING NO 

21
00:00:48,882 --> 00:00:50,784
OBJECTION, THE AGENDA IS 

22
00:00:50,784 --> 00:00:52,085
ADOPTED. WE WILL NOW OPEN THE 

23
00:00:52,085 --> 00:00:53,119
HYBRID PUBLIC COMMENT PERIOD. 

24
00:00:53,119 --> 00:00:54,187
PUBLIC COMMENTS SHOULD RELATE TO

25
00:00:54,187 --> 00:00:55,588
ITEMS ON TODAY'S AGENDA OR 

26
00:00:55,588 --> 00:00:57,457
WITHIN THE PURVIEW OF THIS 

27
00:00:57,457 --> 00:00:58,324
COMMITTEE CLERK. HOW MANY 

28
00:00:58,324 --> 00:01:00,493
SPEAKERS ARE SIGNED UP TODAY? 

29
00:01:00,493 --> 00:01:01,094
-- THERE ARE CURRENTLY SEVEN 

30
00:01:01,094 --> 00:01:02,862
IN-PERSON SPEAKERS AND TWO 

31
00:01:02,862 --> 00:01:03,530
ONLINE SPEAKERS. 

32
00:01:03,530 --> 00:01:04,998
-- OKAY, GREAT. EACH SPEAKER 

33
00:01:04,998 --> 00:01:06,066
WILL HAVE TWO MINUTES, AND WE 

34
00:01:06,066 --> 00:01:08,101
WILL START WITH THE IN-PERSON 

35
00:01:08,101 --> 00:01:09,402
SPEAKERS. FIRST. CLERK, CAN YOU 

36
00:01:09,402 --> 00:01:10,036
PLEASE READ THE PUBLIC COMMENT 

37
00:01:10,036 --> 00:01:11,571
INSTRUCTIONS? 

38
00:01:11,571 --> 00:01:14,507
-- PUBLIC COMMENT PERIOD IS UP 

39
00:01:14,507 --> 00:01:15,642
TO 60 MINUTES. SPEAKERS WILL BE 

40
00:01:15,642 --> 00:01:16,776
CALLED IN THE ORDER IN WHICH 

41
00:01:16,776 --> 00:01:18,111
THEY ARE REGISTERED. WE WILL 

42
00:01:18,111 --> 00:01:18,711
BEGIN WITH IN-PERSON SPEAKERS 

43
00:01:18,711 --> 00:01:20,814
AND THEN MOVE TO REMOTE. 

44
00:01:20,814 --> 00:01:22,982
SPEAKERS WILL HEAR A CHIME WHEN 

45
00:01:22,982 --> 00:01:26,152
10 SECONDS OF THEIR TIME IS 

46
00:01:26,152 --> 00:01:26,786
LEFT. SPEAKERS WILL BE MUTE IF 

47
00:01:26,786 --> 00:01:28,655
THEY DO NOT END THEIR COMMENTS 

48
00:01:28,655 --> 00:01:29,222
WITHIN THE ALLOTTED TIME TO 

49
00:01:29,222 --> 00:01:29,823
ALLOW US TO CALL ON THE NEXT 

50
00:01:29,823 --> 00:01:31,424
SPEAKER. THE PUBLIC COMMENT 

51
00:01:31,424 --> 00:01:31,991
PERIOD IS NOW OPEN. WE WILL 

52
00:01:31,991 --> 00:01:34,461
BEGIN WITH THE FIRST SPEAKER ON 

53
00:01:34,461 --> 00:01:36,496
THE LIST. FIRST SPEAKER IS 

54
00:01:36,496 --> 00:01:38,731
HANNAH ZIFF, FOLLOWED BY RYAN 

55
00:01:38,731 --> 00:01:41,768
DONAHUE, AND THEN NATHAN 

56
00:01:41,768 --> 00:01:42,035
ANTONIO. 

57
00:01:42,035 --> 00:01:43,403
-- HI, I'M HANNAH FROM PIONEER 

58
00:01:43,403 --> 00:01:45,972
SQUARE DOWNTOWN HERE. I'VE BEEN

59
00:01:45,972 --> 00:01:48,141
ASKING CITY COUNCIL TO ENSURE 

60
00:01:48,141 --> 00:01:48,741
THE DEVELOPMENT OF THE EMPTY 

61
00:01:48,741 --> 00:01:50,643
LOTS AND OFFICE BUILDINGS AROUND

62
00:01:50,643 --> 00:01:51,377
MY NEIGHBORHOOD. SO I LOVE THE 

63
00:01:51,377 --> 00:01:52,979
WORK THAT THE OFFICE OF HOUSING 

64
00:01:52,979 --> 00:01:53,980
IS DOING, AND I'M LOOKING 

65
00:01:53,980 --> 00:01:55,381
FORWARD TO SEEING MORE OF IT. I 

66
00:01:55,381 --> 00:01:57,383
LOOKED OVER THE PRESENTATION AND

67
00:01:57,383 --> 00:01:59,719
SAW THAT THERE WERE SIGNIFICANT 

68
00:01:59,719 --> 00:02:00,320
BUDGET CUTS FROM THE FEDERAL 

69
00:02:00,320 --> 00:02:01,187
GOVERNMENT, AND I ALSO DIDN'T 

70
00:02:01,187 --> 00:02:02,789
SEE ANY UPCOMING HOUSING 

71
00:02:02,789 --> 00:02:03,356
DEVELOPMENTS AROUND WHERE I 

72
00:02:03,356 --> 00:02:05,558
LIVE. PLEASE CONSIDER FORMS OF 

73
00:02:05,558 --> 00:02:07,327
REVENUE FOR THE CITY AND 

74
00:02:07,327 --> 00:02:08,127
STAKEHOLDERS IN ORDER TO HELP 

75
00:02:08,127 --> 00:02:09,896
FUND OUR DEVELOPMENT GOALS FOR 

76
00:02:09,896 --> 00:02:11,598
HOUSING, ALONG WITH OUR 

77
00:02:11,598 --> 00:02:12,265
INVESTMENT GOALS IN THE GLOBAL 

78
00:02:12,265 --> 00:02:15,502
MARKET. I WAS WONDERING IF YOU 

79
00:02:15,502 --> 00:02:17,203
EVER GET MATCHING DOLLARS OR ANY

80
00:02:17,203 --> 00:02:17,737
OTHER ASSISTANCE FROM THE 

81
00:02:17,737 --> 00:02:19,739
INDUSTRIAL OR TECH SECTORS, WHO 

82
00:02:19,739 --> 00:02:22,275
IS IN CHARGE OF REQUESTING THAT?

83
00:02:22,275 --> 00:02:25,211
WE ARE THE DEMAND AND WE ARE 

84
00:02:25,211 --> 00:02:26,279
ALSO THE SUPPLY OF WORKERS, AND 

85
00:02:26,279 --> 00:02:27,914
WE'RE ALSO INVESTORS. SO I 

86
00:02:27,914 --> 00:02:29,282
THINK THEY'D BE VERY KEEN ABOUT

87
00:02:29,282 --> 00:02:31,684
THAT. WHAT WOULD BE THE COST IF 

88
00:02:31,684 --> 00:02:32,285
THE CITY PURCHASED THE EMPTY 

89
00:02:32,285 --> 00:02:34,120
LOTS ON JACKSON IN LITTLE 

90
00:02:34,120 --> 00:02:35,855
SAIGON, OR THE EMPTY OFFICE 

91
00:02:35,855 --> 00:02:36,890
BUILDING, THE JACK TO BE TURNED 

92
00:02:36,890 --> 00:02:40,627
INTO HOUSING? COULD THIS BE DONE

93
00:02:40,627 --> 00:02:43,463
WITH LOW INTEREST LOANS AND THEN

94
00:02:43,463 --> 00:02:44,063
BE PAID OFF AS THE OFFICE OF 

95
00:02:44,063 --> 00:02:45,098
HOUSING RECOUPS THE COSTS FROM 

96
00:02:45,098 --> 00:02:47,600
THE HOME SALES WOULD. THE 

97
00:02:47,600 --> 00:02:49,836
MUNICIPALITY OF SEATTLE CONSIDER

98
00:02:49,836 --> 00:02:51,871
SELLING GOVERNMENT BONDS FOR THE

99
00:02:51,871 --> 00:02:54,908
OFFICE OF HOUSING? I'M REALLY 

100
00:02:54,908 --> 00:02:56,843
LOOKING FORWARD TO SEEING AN 

101
00:02:56,843 --> 00:02:59,312
ACCELERATION. I THINK THAT THIS 

102
00:02:59,312 --> 00:03:00,580
CITY OF SEATTLE SHOULD BE A 

103
00:03:00,580 --> 00:03:03,016
COMPETITOR IN THIS SECTOR, AND 

104
00:03:03,016 --> 00:03:04,117
THERE'S A HIGH DEMAND. SO THANK

105
00:03:04,117 --> 00:03:07,287
YOU FOR THE WORK YOU'RE DOING. 

106
00:03:07,287 --> 00:03:08,955
-- OUR NEXT SPEAKER WILL BE RYAN

107
00:03:08,955 --> 00:03:10,557
DONAHUE, FOLLOWED BY NATHAN 

108
00:03:10,557 --> 00:03:14,294
ANTONIO. AND THEN I BELIEVE 

109
00:03:14,294 --> 00:03:14,694
CAROLYN MAHONEY. 

110
00:03:14,694 --> 00:03:15,562
-- WONDERFUL. THANK YOU SO MUCH.

111
00:03:15,562 --> 00:03:16,763
IT'S WONDERFUL TO BE HERE. MY 

112
00:03:16,763 --> 00:03:19,566
NAME IS RYAN DONAHUE. I'M THE 

113
00:03:19,566 --> 00:03:20,366
VICE PRESIDENT OF ADVOCACY AT 

114
00:03:20,366 --> 00:03:21,968
HABITAT FOR HUMANITY, SEATTLE 

115
00:03:21,968 --> 00:03:23,236
KING, AND KITTITAS COUNTIES. WE 

116
00:03:23,236 --> 00:03:24,938
ARE ACTUALLY HAVING A PARTY 

117
00:03:24,938 --> 00:03:26,639
RIGHT NOW CELEBRATING OUR 40th 

118
00:03:26,639 --> 00:03:28,641
ANNIVERSARY. AND I LEFT THAT 

119
00:03:28,641 --> 00:03:32,445
STAFF PARTY TO COME HERE TODAY 

120
00:03:32,445 --> 00:03:33,079
TO HOPEFULLY HELP ILLUSTRATE THE

121
00:03:33,079 --> 00:03:33,680
IMPORTANCE OF WHAT I HAVE TO 

122
00:03:33,680 --> 00:03:34,881
SAY, WHICH IS WE REALLY, AS 

123
00:03:34,881 --> 00:03:38,518
HABITAT, WANT TO SEND OUR STRONG

124
00:03:38,518 --> 00:03:41,287
SUPPORT AND THANK THE MAYOR FOR 

125
00:03:41,287 --> 00:03:43,122
AN EXCELLENT SELECTION FOR TO 

126
00:03:43,122 --> 00:03:45,525
RUN THE OFFICE OF HOUSING. WE 

127
00:03:45,525 --> 00:03:48,027
ARE HONORED TO BE. WE ARE AND 

128
00:03:48,027 --> 00:03:50,363
CONTINUE TO BE HONORED TO BE 

129
00:03:50,363 --> 00:03:51,264
ABLE TO WORK WITH MISS LARSON ON

130
00:03:51,264 --> 00:03:52,765
ANY NUMBER OF DIFFERENT THINGS, 

131
00:03:52,765 --> 00:03:54,500
INCLUDING THE SEATTLE HOUSING 

132
00:03:54,500 --> 00:03:56,135
LEVY IN PARTICULAR. WE WERE 

133
00:03:56,135 --> 00:03:57,370
DEFINITELY WORKING VERY CLOSELY 

134
00:03:57,370 --> 00:03:59,138
ON THAT AND CONTINUE TO SEE THE 

135
00:03:59,138 --> 00:04:03,276
OFFICE OF HOUSING AND MISS 

136
00:04:03,276 --> 00:04:03,776
LARSON, PARTICULARLY AS 

137
00:04:03,776 --> 00:04:05,245
INCREDIBLY IMPORTANT PARTNERS IN

138
00:04:05,245 --> 00:04:07,113
THAT WORK. SHE'S BEEN A TRUSTED

139
00:04:07,113 --> 00:04:09,048
COLLABORATOR AND SOMEBODY WHO 

140
00:04:09,048 --> 00:04:11,851
HAS PARTNERED WITH ORGANIZATIONS

141
00:04:11,851 --> 00:04:12,619
ACROSS THE AREA IN TRYING TO BE 

142
00:04:12,619 --> 00:04:13,219
ABLE TO MAKE SEATTLE A PLACE 

143
00:04:13,219 --> 00:04:15,021
WHERE EVERYONE CAN HAS A SAFE, 

144
00:04:15,021 --> 00:04:16,889
DECENT, AND AFFORDABLE PLACE TO 

145
00:04:16,889 --> 00:04:17,557
CALL HOME. AND SHE WILL CONTINUE

146
00:04:17,557 --> 00:04:21,294
TO REPRESENT THE CITY WELL IN 

147
00:04:21,294 --> 00:04:23,896
THAT ROLE. SHE'S INCREDIBLY WELL

148
00:04:23,896 --> 00:04:24,497
SUITED TO LEAD AND INCREDIBLY 

149
00:04:24,497 --> 00:04:25,865
WELL SUITED TO LEAD THE 

150
00:04:25,865 --> 00:04:27,533
DEPARTMENT, PARTICULARLY IN THIS

151
00:04:27,533 --> 00:04:28,835
MOMENT, AND IS HONESTLY THE BEST

152
00:04:28,835 --> 00:04:31,070
PERSON I COULD HAVE THOUGHT OF 

153
00:04:31,070 --> 00:04:32,639
AS A POSSIBILITY TO BE ABLE TO 

154
00:04:32,639 --> 00:04:34,073
LEAD THIS DEPARTMENT. I'M REALLY

155
00:04:34,073 --> 00:04:35,975
HAPPY WITH THIS CHOICE FOR US AT

156
00:04:35,975 --> 00:04:37,343
HABITAT ARE REALLY HAPPY WITH 

157
00:04:37,343 --> 00:04:38,044
THIS CHOICE, AND WE LOOK FORWARD

158
00:04:38,044 --> 00:04:40,146
TO CONTINUING TO BE ABLE TO HAVE

159
00:04:40,146 --> 00:04:42,248
THE OPPORTUNITY TO WORK WITH HER

160
00:04:42,248 --> 00:04:45,518
AND URGE THAT THE COMMITTEE 

161
00:04:45,518 --> 00:04:48,021
SWIFTLY WORK TO RATIFY AND 

162
00:04:48,021 --> 00:04:49,288
CONFIRM HER APPOINTMENT. THANK 

163
00:04:49,288 --> 00:04:51,591
YOU VERY MUCH. THANK 

164
00:04:51,591 --> 00:04:52,925
-- NEXT, WE HAVE NATHAN ANTONIO,

165
00:04:52,925 --> 00:04:58,331
FOLLOWED BY CAROLYN MAHONEY. 

166
00:04:58,331 --> 00:04:59,666
-- HELLO, CHAIR FOSTER. MEMBERS 

167
00:04:59,666 --> 00:05:01,868
OF THE HOUSING, ARTS AND CIVIL 

168
00:05:01,868 --> 00:05:03,369
RIGHTS COMMITTEE. MY NAME IS 

169
00:05:03,369 --> 00:05:05,605
NATHAN ANTONIO. I'M A STAFF 

170
00:05:05,605 --> 00:05:06,806
ANALYST AT THE OFFICE OF 

171
00:05:06,806 --> 00:05:08,474
HOUSING, AND I'M HERE TO READ A

172
00:05:08,474 --> 00:05:10,476
STATEMENT INTO THE RECORD THAT 

173
00:05:10,476 --> 00:05:12,178
HAS BEEN SIGNED BY SOME OTHER 

174
00:05:12,178 --> 00:05:15,682
STAFF AT THE OFFICE ON BEHALF OF

175
00:05:15,682 --> 00:05:16,482
THE PROTECT 17 REPRESENTED STAFF

176
00:05:16,482 --> 00:05:18,117
OF THE OFFICE OF HOUSING. WE 

177
00:05:18,117 --> 00:05:19,152
WOULD LIKE TO THANK YOU FOR THE 

178
00:05:19,152 --> 00:05:20,887
OPPORTUNITY TO COMMENT IN 

179
00:05:20,887 --> 00:05:21,988
SUPPORT OF THE CONFIRMATION OF 

180
00:05:21,988 --> 00:05:23,389
KELLY LARSON AS DIRECTOR OF 

181
00:05:23,389 --> 00:05:24,390
HOUSING. WE WOULD ALSO LIKE TO 

182
00:05:24,390 --> 00:05:26,359
THANK MAYOR WILSON AND HER TEAM 

183
00:05:26,359 --> 00:05:27,527
FOR ACCEPTING A REQUEST TO 

184
00:05:27,527 --> 00:05:28,061
PARTICIPATE IN THE HIRING 

185
00:05:28,061 --> 00:05:30,029
PROCESS. AS STAFF WHO HAVE 

186
00:05:30,029 --> 00:05:31,597
OURSELVES PARTICIPATED DIRECTLY 

187
00:05:31,597 --> 00:05:32,999
IN THAT PROCESS, WE'RE VERY 

188
00:05:32,999 --> 00:05:35,902
GRATEFUL TO HAVE BEEN INVOLVED, 

189
00:05:35,902 --> 00:05:37,637
OFFERING INPUT AT THE OUTSET, 

190
00:05:37,637 --> 00:05:38,271
HAVING A REPRESENTATIVE IN THE 

191
00:05:38,271 --> 00:05:39,472
FIRST INTERVIEW PANEL AND 

192
00:05:39,472 --> 00:05:40,540
GETTING A CHANCE TO MEET WITH 

193
00:05:40,540 --> 00:05:42,308
THE FINALISTS AS A GROUP, GIVEN 

194
00:05:42,308 --> 00:05:43,343
OUR DIRECT INVOLVEMENT IN THE 

195
00:05:43,343 --> 00:05:44,310
DAY TO DAY OPERATIONS OF THE 

196
00:05:44,310 --> 00:05:45,912
OFFICE, OUR LIVED EXPERIENCE 

197
00:05:45,912 --> 00:05:48,281
WITH ITS CULTURE AND FAMILIARITY

198
00:05:48,281 --> 00:05:49,615
WITH THE CHALLENGES OF THE WORK,

199
00:05:49,615 --> 00:05:50,717
WE BELIEVE THAT OUR INPUT AND 

200
00:05:50,717 --> 00:05:51,617
ADVICE HAVE HELPED SHAPE THE 

201
00:05:51,617 --> 00:05:53,486
BEST POSSIBLE OUTCOME, AND WE 

202
00:05:53,486 --> 00:05:54,120
WHOLEHEARTEDLY RECOMMEND KELLY 

203
00:05:54,120 --> 00:05:57,290
TO BE THE DIRECTOR OF HOUSING, 

204
00:05:57,290 --> 00:05:57,924
PARTICULARLY IN THIS CHALLENGING

205
00:05:57,924 --> 00:05:59,592
TIME IN THE AFFORDABLE HOUSING 

206
00:05:59,592 --> 00:06:01,327
SECTOR. KELLY BRINGS THE 

207
00:06:01,327 --> 00:06:01,961
KNOWLEDGE AND EXPERIENCE NEEDED 

208
00:06:01,961 --> 00:06:02,929
TO OVERCOME THOSE CHALLENGES, 

209
00:06:02,929 --> 00:06:04,263
WHILE ALSO DRIVING TO GREATER 

210
00:06:04,263 --> 00:06:06,265
OUTCOMES ACROSS PROGRAMS, 

211
00:06:06,265 --> 00:06:08,601
SERVICES AND OTHER INITIATIVES. 

212
00:06:08,601 --> 00:06:10,136
FURTHER, BECAUSE WE KNOW KELLY 

213
00:06:10,136 --> 00:06:12,305
AND KELLY KNOWS US, WE CAN SAY 

214
00:06:12,305 --> 00:06:12,905
WITH CERTAINTY THAT SHE CARES 

215
00:06:12,905 --> 00:06:14,374
ABOUT STAFF ON A VERY HUMAN 

216
00:06:14,374 --> 00:06:15,742
LEVEL AND WANTS TO PROMOTE AN 

217
00:06:15,742 --> 00:06:18,644
OFFICE CULTURE THAT IS 

218
00:06:18,644 --> 00:06:19,212
INCLUSIVE, CONSTRUCTIVE AND 

219
00:06:19,212 --> 00:06:20,113
INSPIRING. WE HAVE EVERY 

220
00:06:20,113 --> 00:06:21,581
CONFIDENCE IN HER ABILITY TO 

221
00:06:21,581 --> 00:06:23,683
LEAD AND GUIDE US AND OUR WORK 

222
00:06:23,683 --> 00:06:25,818
TO SUCCESS. WE HOPE YOU WILL 

223
00:06:25,818 --> 00:06:27,754
AGREE WITH OUR ASSESSMENT AND 

224
00:06:27,754 --> 00:06:29,255
CONFIRM HER APPOINTMENT, AND I 

225
00:06:29,255 --> 00:06:31,023
WILL JUST READ THE NAMES OF THE 

226
00:06:31,023 --> 00:06:33,659
UNDERSIGNED INDIVIDUALS, OTHER 

227
00:06:33,659 --> 00:06:36,028
STAFF. AMANDA, LICORICE, ANDREA 

228
00:06:36,028 --> 00:06:38,064
MENDOZA, SANCHEZ, CLARISSA 

229
00:06:38,064 --> 00:06:40,666
OCHOA, JAMIE WOOD, JASON 

230
00:06:40,666 --> 00:06:43,302
PHILLIPS JEREMY CARROLL, JESSICA

231
00:06:43,302 --> 00:06:48,274
GOMES, KIM LEE, MATEO. TAVAREZ, 

232
00:06:48,274 --> 00:06:49,475
NATHAN ANTONIO, AND SANDRA LAKE.

233
00:06:49,475 --> 00:06:52,078
THANK YOU VERY MUCH. 

234
00:06:52,078 --> 00:06:55,715
-- AND NEXT WE HAVE CAROLYN 

235
00:06:55,715 --> 00:06:56,182
MAHONEY, FOLLOWED BY 

236
00:06:56,182 --> 00:06:58,384
COUNCILMEMBER JAMES LOVELL AND 

237
00:06:58,384 --> 00:06:58,818
THEN DANIEL MALONE. 

238
00:06:58,818 --> 00:07:02,422
-- I'M CAROLYN MALONE, STILL, 

239
00:07:02,422 --> 00:07:05,291
WITH THE ONGOING ISSUES AT 

240
00:07:05,291 --> 00:07:05,825
CHANCERY PLACE, APARTMENT 

241
00:07:05,825 --> 00:07:09,162
SEATTLE HAS AN IMAGE PROBLEM, A 

242
00:07:09,162 --> 00:07:14,000
SERIOUS IMAGE PROBLEM WITH A 

243
00:07:14,000 --> 00:07:14,634
LACK OF TRANSPARENCY AND COMIC 

244
00:07:14,634 --> 00:07:16,569
CON EFFECTIVE COMMUNICATION, 

245
00:07:16,569 --> 00:07:19,238
ESPECIALLY IN MY HOUSING, WHERE 

246
00:07:19,238 --> 00:07:22,975
A QUESTIONABLE CONSTRUCTION IS 

247
00:07:22,975 --> 00:07:24,544
GOING ON AND I'M NOT ALLOWED TO

248
00:07:24,544 --> 00:07:32,018
ASK QUESTIONS EVEN WHEN I GO TO 

249
00:07:32,018 --> 00:07:32,652
THE DEPARTMENT OF CONSTRUCTION 

250
00:07:32,652 --> 00:07:33,553
AND INSPECTION, I'M RETALIATED 

251
00:07:33,553 --> 00:07:36,556
AGAINST. THE BUILDING IS BEING 

252
00:07:36,556 --> 00:07:40,626
GUTTED AT 910 MARION STREET, 13 

253
00:07:40,626 --> 00:07:41,894
STORIES BEING GUTTED WITH PEOPLE

254
00:07:41,894 --> 00:07:47,300
LIVING IN IT AND THE MANAGER, 

255
00:07:47,300 --> 00:07:47,967
ROBERT HADER AND A POLICE. THIS 

256
00:07:47,967 --> 00:07:52,271
ROGUE COP. THE MANAGER REFUSES 

257
00:07:52,271 --> 00:07:55,575
TO GIVE HIS NAME TO ME SO I CAN 

258
00:07:55,575 --> 00:07:59,312
FILE A COMPLAINT AGAINST HIM FOR

259
00:07:59,312 --> 00:08:02,949
ONGOING HARASSMENT IN 2024 AND 

260
00:08:02,949 --> 00:08:05,785
2025, AN INFESTATION OF BEDBUGS 

261
00:08:05,785 --> 00:08:08,654
WERE IN MY APARTMENT FOR 13 

262
00:08:08,654 --> 00:08:11,390
MONTHS. THEN THIS THUG ROGUE 

263
00:08:11,390 --> 00:08:14,627
COP, A COP AFFILIATE, HAD ME 

264
00:08:14,627 --> 00:08:17,363
HAULED INTO COURT IN FEBRUARY OF

265
00:08:17,363 --> 00:08:19,298
THIS YEAR TRYING TO EVICT ME. 

266
00:08:19,298 --> 00:08:21,734
AND THE CASE WAS DISMISSED 

267
00:08:21,734 --> 00:08:24,837
BECAUSE HE DIDN'T PRODUCE. 

268
00:08:24,837 --> 00:08:26,772
WHOEVER'S MAKING MY STOMACH 

269
00:08:26,772 --> 00:08:30,343
QUIVER QUIT. HE DIDN'T PRODUCE 

270
00:08:30,343 --> 00:08:32,511
ANY EVIDENCE, ANY DISCOVERY 

271
00:08:32,511 --> 00:08:35,414
EVIDENCE. THIS IS MY ROLE IN 

272
00:08:35,414 --> 00:08:36,916
FILE CABINET WITH EVIDENCE IN 

273
00:08:36,916 --> 00:08:41,721
IT. RECENTLY, I'VE BEEN SLEEPING

274
00:08:41,721 --> 00:08:44,457
IN A IN A UNIT WITH TOXIN. I 

275
00:08:44,457 --> 00:08:48,628
BELIEVE IT'S SOME KIND OF CEDAR

276
00:08:48,628 --> 00:08:51,330
TREE RESIN THAT CAUSES ME TO 

277
00:08:51,330 --> 00:08:52,665
WAKE UP SICK. YESTERDAY WAS A 

278
00:08:52,665 --> 00:09:00,139
HARD DAY FOR ME. I ASKED CITY 

279
00:09:00,139 --> 00:09:00,773
COUNCIL TO COME IN AND INSPECT 

280
00:09:00,773 --> 00:09:02,275
WITH MY PRESENCE. THE FACT THAT 

281
00:09:02,275 --> 00:09:04,343
NONE WILL COME IN JUST TELLS ME 

282
00:09:04,343 --> 00:09:07,713
THEY KNOW WHAT I SAY IS TRUE. 

283
00:09:07,713 --> 00:09:10,683
THANK YOU. KEEP RETURNING UNTIL 

284
00:09:10,683 --> 00:09:12,285
SOMETHING IS DONE ABOUT THE 

285
00:09:12,285 --> 00:09:12,585
HARASSMENT. 

286
00:09:12,585 --> 00:09:14,353
-- THANK YOU 

287
00:09:14,353 --> 00:09:17,023
-- THANK YOU. NEXT, WE HAVE 

288
00:09:17,023 --> 00:09:19,058
COUNCILMEMBER JAMES, FOLLOWED BY

289
00:09:19,058 --> 00:09:19,692
DANIEL MALONE AND THEN CHRISTINA

290
00:09:19,692 --> 00:09:23,229
GISCOMBE 

291
00:09:23,229 --> 00:09:23,863
-- GOOD AFTERNOON. AS EVERYONE 

292
00:09:23,863 --> 00:09:25,064
KNOWS, MY NAME IS JAMES LOVELL. 

293
00:09:25,064 --> 00:09:25,731
AYE. YES, I'M A COUNCILMEMBER 

294
00:09:25,731 --> 00:09:26,465
IN THE CITY OF SEATAC, BUT I'M 

295
00:09:26,465 --> 00:09:29,268
HERE TODAY IN MY DAY JOB 

296
00:09:29,268 --> 00:09:29,902
REPRESENTING CHIEF SEATTLE CLUB,

297
00:09:29,902 --> 00:09:31,904
WHERE HOUSING AND HOMELESSNESS, 

298
00:09:31,904 --> 00:09:36,208
HOMELESSNESS PROVIDER HERE IN 

299
00:09:36,208 --> 00:09:36,876
SEATTLE. AND I'M HERE TO OFFER 

300
00:09:36,876 --> 00:09:37,810
OUR SUPPORT FOR THE MAYOR'S 

301
00:09:37,810 --> 00:09:40,212
SELECTION OF THE VERY, VERY ABLE

302
00:09:40,212 --> 00:09:41,280
KELLY LARSON TO LEAD THE 

303
00:09:41,280 --> 00:09:42,081
DEPARTMENT OF HOUSING, THE 

304
00:09:42,081 --> 00:09:43,349
OFFICE OF HOUSING. I'M SORRY. 

305
00:09:43,349 --> 00:09:46,185
AND I YOU KNOW, THE WORD ABLE 

306
00:09:46,185 --> 00:09:46,686
CAN SOUND ALMOST LIKE A 

307
00:09:46,686 --> 00:09:47,920
EUPHEMISM FOR SOMEONE WHO'S JUST

308
00:09:47,920 --> 00:09:49,255
BARELY ENOUGH. KELLY IS MORE 

309
00:09:49,255 --> 00:09:50,389
THAN ENOUGH IN EVERY WAY. WE'VE

310
00:09:50,389 --> 00:09:52,959
REALLY ENJOYED WORKING WITH HER.

311
00:09:52,959 --> 00:09:54,160
SHE'S A PERSON OF EXCEPTIONAL 

312
00:09:54,160 --> 00:09:55,394
ABILITY, AND I WROTE DOWN A FEW 

313
00:09:55,394 --> 00:09:56,963
OF THOSE ABILITIES. SHE IS 

314
00:09:56,963 --> 00:09:58,531
KNOWLEDGEABLE. I SERVE ON THE 

315
00:09:58,531 --> 00:10:00,232
HOUSING LEVY OVERSIGHT COMMITTEE

316
00:10:00,232 --> 00:10:00,933
IN THE CITY OF SEATTLE, AND I'VE

317
00:10:00,933 --> 00:10:02,368
GOTTEN TO WORK VERY CLOSELY WITH

318
00:10:02,368 --> 00:10:03,402
KELLY IN THAT TIME AS WELL. IN 

319
00:10:03,402 --> 00:10:06,105
OTHER ROLES AT MY JOB, SHE KNOWS

320
00:10:06,105 --> 00:10:07,406
EACH OF THESE POLICIES INSIDE 

321
00:10:07,406 --> 00:10:09,909
AND OUT. SHE KNOWS WHAT IT MEANS

322
00:10:09,909 --> 00:10:11,243
FOR OPERATORS OF HOUSING TO BE 

323
00:10:11,243 --> 00:10:14,547
IN IN THE ROOM. SHE IS 

324
00:10:14,547 --> 00:10:15,181
APPROACHABLE. SHE IS ONE OF THE 

325
00:10:15,181 --> 00:10:16,282
FRIENDLIEST PEOPLE WE'VE HAD IN

326
00:10:16,282 --> 00:10:19,585
ANY ROLE OF CITY LEADERSHIP 

327
00:10:19,585 --> 00:10:20,186
WITH, WITH AN ADMINISTRATION 

328
00:10:20,186 --> 00:10:20,786
THAT WE JUST HEARD, WE FACED 

329
00:10:20,786 --> 00:10:22,088
SOME HEAVY GRAVITY IN THE 

330
00:10:22,088 --> 00:10:25,591
HOUSING WORLD. KELLY IS 

331
00:10:25,591 --> 00:10:26,492
APPROACHABLE BY RESIDENTS. 

332
00:10:26,492 --> 00:10:27,159
SHE'S APPROACHABLE BY PROVIDERS,

333
00:10:27,159 --> 00:10:27,793
BY POLITICIANS. EVERYWHERE WE 

334
00:10:27,793 --> 00:10:30,529
GO, KELLY IS BEING APPROACHED BY

335
00:10:30,529 --> 00:10:32,198
PEOPLE. SHE IS EQUITABLE. SHE 

336
00:10:32,198 --> 00:10:34,133
CARES ABOUT HOW THE POLICIES 

337
00:10:34,133 --> 00:10:35,701
ACTUALLY IMPACT THOSE WHO NEED 

338
00:10:35,701 --> 00:10:37,403
HOUSING THE MOST. SHE IS CAPABLE

339
00:10:37,403 --> 00:10:40,072
OF BALANCING LEGISLATIVE AND 

340
00:10:40,072 --> 00:10:41,140
OPERATIONAL PRIORITIES. AND 

341
00:10:41,140 --> 00:10:42,508
THOSE ARE REALLY THOSE ARE BIG 

342
00:10:42,508 --> 00:10:44,543
CHALLENGES. WE'VE GOT A VOTER 

343
00:10:44,543 --> 00:10:45,878
APPROVED LEVY. WE'VE GOT 

344
00:10:45,878 --> 00:10:47,546
FUNDING THAT'S BEEN APPROVED BY

345
00:10:47,546 --> 00:10:48,180
CITY COUNCIL, FUNDING THAT'S 

346
00:10:48,180 --> 00:10:49,482
APPROVED BY ALL SORTS OF 

347
00:10:49,482 --> 00:10:51,250
DIFFERENT LAYERS. AND KELLY IS 

348
00:10:51,250 --> 00:10:51,884
ALWAYS CAPABLE OF MANAGING IT. 

349
00:10:51,884 --> 00:10:53,252
SHE IS ACCOUNTABLE. SHE RESPONDS

350
00:10:53,252 --> 00:10:55,888
WHEN WE ASK HER FOR FEEDBACK, 

351
00:10:55,888 --> 00:10:57,456
WHEN SHE ASKS FOR FEEDBACK, SHE 

352
00:10:57,456 --> 00:10:58,457
REACHES OUT EARLY TO LET US 

353
00:10:58,457 --> 00:11:00,226
KNOW, HEY, SOMETHING IS ABOUT TO

354
00:11:00,226 --> 00:11:02,495
COME DOWN THE LINE. HERE'S HOW 

355
00:11:02,495 --> 00:11:03,095
WE CAN PREPARE FOR IT TO MAKE 

356
00:11:03,095 --> 00:11:04,597
SURE THAT PEOPLE STAY HOUSED. 

357
00:11:04,597 --> 00:11:07,066
SHE IS ADAPTABLE AND SHE IS 

358
00:11:07,066 --> 00:11:08,100
CREDIBLE. SHE IS ONE OF THE MOST

359
00:11:08,100 --> 00:11:10,069
ABLE PEOPLE I'VE GOTTEN TO WORK

360
00:11:10,069 --> 00:11:12,938
WITH IN MY CAREER, AND I 

361
00:11:12,938 --> 00:11:15,808
STRONGLY SUPPORT KELLY'S 

362
00:11:15,808 --> 00:11:16,442
NOMINATION FOR DIRECTOR FOR THE 

363
00:11:16,442 --> 00:11:17,543
OFFICE, SOON TO BE DEPARTMENT. 

364
00:11:17,543 --> 00:11:19,478
NO OFFICE OF HOUSING. THANK YOU 

365
00:11:19,478 --> 00:11:22,014
VERY MUCH. 

366
00:11:22,014 --> 00:11:24,417
-- THANK YOU 

367
00:11:24,417 --> 00:11:25,618
-- OUR NEXT SPEAKER IS DANIEL 

368
00:11:25,618 --> 00:11:27,653
MALONE, FOLLOWED BY CHRISTINA. 

369
00:11:27,653 --> 00:11:28,788
AND THEN WE WILL JUMP TO REMOTE 

370
00:11:28,788 --> 00:11:33,192
SPEAKER, STARTING WITH DANIEL 

371
00:11:33,192 --> 00:11:33,392
GRAY. 

372
00:11:33,392 --> 00:11:35,728
-- THANK YOU, CHAIR FOSTER AND 

373
00:11:35,728 --> 00:11:37,329
MEMBERS OF THE COMMITTEE. I ALSO

374
00:11:37,329 --> 00:11:39,832
AM HERE IN SUPPORT OF YOUR 

375
00:11:39,832 --> 00:11:41,267
CONFIRMATION OF THE APPOINTMENT 

376
00:11:41,267 --> 00:11:42,234
OF KELLY LARSON TO LEAD THE 

377
00:11:42,234 --> 00:11:45,371
SEATTLE OFFICE OF HOUSING. THE 

378
00:11:45,371 --> 00:11:47,807
PREVIOUS SPEAKER TOOK ALL THE 

379
00:11:47,807 --> 00:11:50,843
DESCRIPTORS THAT EXIST IN MY 

380
00:11:50,843 --> 00:11:52,845
DICTIONARY. SO THIS MAY BE A 

381
00:11:52,845 --> 00:12:00,186
LITTLE REPETITIVE. YOU KNOW, THE

382
00:12:00,186 --> 00:12:01,954
WORLD OF AFFORDABLE HOUSING 

383
00:12:01,954 --> 00:12:02,388
INVOLVES A BUNCH OF 

384
00:12:02,388 --> 00:12:07,893
IDIOSYNCRATIC PROCESSES AND 

385
00:12:07,893 --> 00:12:11,063
PARTNERSHIPS AND. INDIVIDUALS, 

386
00:12:11,063 --> 00:12:13,165
AND KELLY LARSON IS WELL SUITED 

387
00:12:13,165 --> 00:12:17,703
TO MANAGE ALL THAT COMES WITH 

388
00:12:17,703 --> 00:12:19,371
THAT. THE WORK INVOLVED IN 

389
00:12:19,371 --> 00:12:21,307
DEVELOPING AFFORDABLE HOUSING, 

390
00:12:21,307 --> 00:12:22,641
IN OPERATING AFFORDABLE HOUSING,

391
00:12:22,641 --> 00:12:24,977
AND SETTING POLICY RELATED TO 

392
00:12:24,977 --> 00:12:26,712
AFFORDABLE HOUSING IS ALL 

393
00:12:26,712 --> 00:12:28,047
COMPLICATED, WITH LOTS OF 

394
00:12:28,047 --> 00:12:29,815
DIFFERENT INTERESTS THAT COME TO

395
00:12:29,815 --> 00:12:31,283
THE TABLE. INTERESTED IN TALKING

396
00:12:31,283 --> 00:12:32,918
ABOUT IT AND INFLUENCING THINGS 

397
00:12:32,918 --> 00:12:34,186
IN A CERTAIN DIRECTION. KELLY 

398
00:12:34,186 --> 00:12:38,224
HAS THE RIGHT COMBINATION OF 

399
00:12:38,224 --> 00:12:41,093
EXPERIENCE, KNOWLEDGE, 

400
00:12:41,093 --> 00:12:44,764
AFFABILITY, PARTNERSHIP, 

401
00:12:44,764 --> 00:12:46,632
SENSIBILITY TO BE EFFECTIVE IN 

402
00:12:46,632 --> 00:12:48,234
THIS ROLE. MORE SO THAN ANYONE 

403
00:12:48,234 --> 00:12:52,371
ELSE I COULD IMAGINE. SO I'M SO

404
00:12:52,371 --> 00:12:53,506
GLAD FOR THE APPOINTMENT AND 

405
00:12:53,506 --> 00:12:56,208
HOPE THAT YOU WILL CHOOSE TO 

406
00:12:56,208 --> 00:12:59,411
CONFIRM. THANK YOU. 

407
00:12:59,411 --> 00:12:59,745
-- THANK YOU. 

408
00:12:59,745 --> 00:13:01,080
-- OUR NEXT SPEAKER IS CHRISTINA

409
00:13:01,080 --> 00:13:02,681
GISCOMBE. THEN WE'LL JUMP TO 

410
00:13:02,681 --> 00:13:06,218
REMOTE SPEAKERS WITH DANIELLE 

411
00:13:06,218 --> 00:13:11,791
GRAY. 

412
00:13:11,791 --> 00:13:12,224
-- GOOD AFTERNOON, 

413
00:13:12,224 --> 00:13:13,058
COUNCILMEMBERS, AND THANK YOU 

414
00:13:13,058 --> 00:13:14,160
FOR THE OPPORTUNITY TO SPEAK 

415
00:13:14,160 --> 00:13:16,328
TODAY. I AM ALSO HERE IN SUPPORT

416
00:13:16,328 --> 00:13:19,064
OF CONFIRMING KELLY LARSON FOR 

417
00:13:19,064 --> 00:13:21,000
THE OFFICE OF HOUSING DIRECTOR. 

418
00:13:21,000 --> 00:13:22,468
MY NAME IS CHRISTINA GISCOMBE, 

419
00:13:22,468 --> 00:13:23,402
AND I'M THE DIRECTOR OF 

420
00:13:23,402 --> 00:13:24,270
INTEGRATED HEALTH AT PLYMOUTH 

421
00:13:24,270 --> 00:13:25,771
HOUSING. AND I'M HERE WITH A 

422
00:13:25,771 --> 00:13:26,939
NUMBER OF MY COLLEAGUES, BOTH 

423
00:13:26,939 --> 00:13:29,575
PAST AND PRESENT, TO 

424
00:13:29,575 --> 00:13:31,577
WHOLEHEARTEDLY SUPPORT KELLY. 

425
00:13:31,577 --> 00:13:33,345
I'VE HAD THE PRIVILEGE OF 

426
00:13:33,345 --> 00:13:35,214
KNOWING KELLY PERSONALLY AND 

427
00:13:35,214 --> 00:13:36,115
PROFESSIONALLY, AND I WORKED 

428
00:13:36,115 --> 00:13:36,849
CLOSELY WITH HER FOR MANY YEARS 

429
00:13:36,849 --> 00:13:38,817
AT PLYMOUTH. BECAUSE OF THAT 

430
00:13:38,817 --> 00:13:40,719
EXPERIENCE, I CAN SAY WITH 

431
00:13:40,719 --> 00:13:41,987
CONFIDENCE, AS CAN EVERYBODY 

432
00:13:41,987 --> 00:13:42,688
HERE, THAT SHE IS ONE OF THE 

433
00:13:42,688 --> 00:13:44,823
SMARTEST, MOST THOUGHTFUL AND 

434
00:13:44,823 --> 00:13:46,625
MOST COMPASSIONATE PEOPLE THAT 

435
00:13:46,625 --> 00:13:48,127
WE KNOW. BUT SHE'S ALSO SOMEONE

436
00:13:48,127 --> 00:13:50,362
THAT WE TRUST. ONE OF THE 

437
00:13:50,362 --> 00:13:52,231
REASONS THAT I BELIEVE KELLY IS 

438
00:13:52,231 --> 00:13:53,866
UNIQUELY SUITED FOR THIS ROLE IS

439
00:13:53,866 --> 00:13:57,136
HER UNDERSTANDING OF PERMANENT 

440
00:13:57,136 --> 00:13:57,703
SUPPORTIVE HOUSING AND THE 

441
00:13:57,703 --> 00:13:59,638
PEOPLE WHO CALL IT HOME. FOR 

442
00:13:59,638 --> 00:14:00,206
THOSE WHO HAVE EXPERIENCED 

443
00:14:00,206 --> 00:14:02,308
CHRONIC HOMELESSNESS, BEHAVIORAL

444
00:14:02,308 --> 00:14:03,709
HEALTH CHALLENGES, TRAUMA, AND 

445
00:14:03,709 --> 00:14:04,910
COMPLEX MEDICAL NEEDS, HOUSING 

446
00:14:04,910 --> 00:14:07,613
IS HEALTH CARE, STABLE HOUSING 

447
00:14:07,613 --> 00:14:09,215
CREATES THE FOUNDATION FOR 

448
00:14:09,215 --> 00:14:10,716
HEALTH RECOVERY, CONNECTION, 

449
00:14:10,716 --> 00:14:13,118
SAFETY AND COMMUNITY. AND KELLY 

450
00:14:13,118 --> 00:14:14,386
KNOWS THIS DEEPLY AND BELIEVES 

451
00:14:14,386 --> 00:14:16,522
IN THAT. KELLY ALSO KNOWS THAT 

452
00:14:16,522 --> 00:14:19,124
MAKING HOUSING SUCCESSFUL 

453
00:14:19,124 --> 00:14:19,758
REQUIRES INVESTMENT BEYOND THE 

454
00:14:19,758 --> 00:14:20,526
PHYSICAL BUILDINGS, IT REQUIRES 

455
00:14:20,526 --> 00:14:22,995
STRONG SERVICES SUPPORTED 

456
00:14:22,995 --> 00:14:24,630
WORKFORCE, SUSTAINABLE 

457
00:14:24,630 --> 00:14:26,932
PARTNERSHIPS, AND A CITY THAT 

458
00:14:26,932 --> 00:14:27,566
UNDERSTANDS THE REALITIES THAT 

459
00:14:27,566 --> 00:14:28,901
WE NAVIGATE EVERY DAY AS 

460
00:14:28,901 --> 00:14:31,470
PROVIDERS AND AS RESIDENTS. 

461
00:14:31,470 --> 00:14:33,172
SEATTLE NEEDS THAT PERSPECTIVE 

462
00:14:33,172 --> 00:14:33,806
AND ITS HOUSING LEADERSHIP, AND 

463
00:14:33,806 --> 00:14:35,741
WE KNOW THE KIND OF LEADER KELLY

464
00:14:35,741 --> 00:14:36,542
WILL BE BECAUSE WE'VE SEEN IT 

465
00:14:36,542 --> 00:14:38,911
FIRSTHAND. SHE LISTENS. SHE ASKS

466
00:14:38,911 --> 00:14:41,480
DIFFICULT QUESTIONS, AND SHE 

467
00:14:41,480 --> 00:14:42,114
BRINGS PEOPLE TOGETHER, LEARNS 

468
00:14:42,114 --> 00:14:42,781
FROM THOSE CLOSEST TO THE WORK, 

469
00:14:42,781 --> 00:14:44,750
AND MAKES THOUGHTFUL DECISIONS. 

470
00:14:44,750 --> 00:14:47,886
I'M GENUINELY EXCITED ABOUT 

471
00:14:47,886 --> 00:14:48,454
WHAT KELLY CAN ACCOMPLISH 

472
00:14:48,454 --> 00:14:48,988
ACCOMPLISH WHEN GIVEN THE 

473
00:14:48,988 --> 00:14:50,789
OPPORTUNITY TO BRING HER 

474
00:14:50,789 --> 00:14:51,323
INTELLIGENCE, COMPASSION, 

475
00:14:51,323 --> 00:14:52,358
CREATIVITY, AND INTEGRITY TO THE

476
00:14:52,358 --> 00:14:53,993
CHALLENGES OUR CITY IS FACING. 

477
00:14:53,993 --> 00:14:57,129
THANK YOU 

478
00:14:57,129 --> 00:14:59,465
-- THANK YOU. WE'LL MOVE TO 

479
00:14:59,465 --> 00:15:01,500
REMOTE SPEAKERS. FIRST, WE HAVE 

480
00:15:01,500 --> 00:15:05,170
DANIELLE GRAY, FOLLOWED BY 

481
00:15:05,170 --> 00:15:08,774
NATALIE QUICK, PLEASE PRESS STAR

482
00:15:08,774 --> 00:15:10,376
SIX. WHEN YOU HEAR THE PROMPT 

483
00:15:10,376 --> 00:15:18,851
THAT YOU HAVE BEEN UNMUTED. 

484
00:15:18,851 --> 00:15:19,885
-- I WOULD LIKE TO ASK FOR AN 

485
00:15:19,885 --> 00:15:22,554
AUDIT OF THE OFFICE OF HOUSING, 

486
00:15:22,554 --> 00:15:24,723
SPECIFICALLY RENT INCREASES 

487
00:15:24,723 --> 00:15:27,226
ABOVE LAND USE COVENANTS, 

488
00:15:27,226 --> 00:15:27,860
FINANCIAL REPRESENTATIONS MADE 

489
00:15:27,860 --> 00:15:28,894
BY HOUSING PROVIDERS, AND THE 

490
00:15:28,894 --> 00:15:31,430
DUE DILIGENCE PERFORMED BEFORE 

491
00:15:31,430 --> 00:15:33,065
MILLIONS OF DOLLARS IN PUBLIC 

492
00:15:33,065 --> 00:15:35,634
AWARDS ARE APPROVED. O STAFF 

493
00:15:35,634 --> 00:15:37,937
ADVISES PROJECTS ON RAISING 

494
00:15:37,937 --> 00:15:40,372
RENTS ABOVE LOW LAND USE 

495
00:15:40,372 --> 00:15:43,909
COVENANTS THAT IS IN THE RECORD 

496
00:15:43,909 --> 00:15:46,879
FINANCIAL RECORDS, TAX FILINGS, 

497
00:15:46,879 --> 00:15:48,714
LOANS, PUBLIC AWARDS AND RELATED

498
00:15:48,714 --> 00:15:51,517
PARTIES. TRANSACTIONS CONTAIN 

499
00:15:51,517 --> 00:15:52,785
SUBSTANTIAL INCONSISTENCIES IN 

500
00:15:52,785 --> 00:15:53,519
THE RECORDS I HAVE REVIEWED. I 

501
00:15:53,519 --> 00:15:55,754
HAVE FOUND NO FINANCIAL 

502
00:15:55,754 --> 00:15:59,325
JUSTIFICATION FOR ALLOWING RENT 

503
00:15:59,325 --> 00:15:59,958
TO EXCEED COVENANTS. WHAT DUE 

504
00:15:59,958 --> 00:16:02,161
DILIGENCE IS O ACTUALLY 

505
00:16:02,161 --> 00:16:02,728
PERFORMING BEFORE AWARDING 

506
00:16:02,728 --> 00:16:04,797
HUNDREDS OF MILLIONS OF TAXPAYER

507
00:16:04,797 --> 00:16:09,768
DOLLARS DOLLARS? O H ADMINISTERS

508
00:16:09,768 --> 00:16:12,671
$350 MILLION ANNUALLY SEATTLE 

509
00:16:12,671 --> 00:16:15,975
TAXPAYERS ALSO SPEND 

510
00:16:15,975 --> 00:16:19,144
APPROXIMATELY $126 MILLION TO 

511
00:16:19,144 --> 00:16:19,912
KCRHA. THE SEATTLE HOUSING 

512
00:16:19,912 --> 00:16:21,780
AUTHORITY, WHICH IS AN O 

513
00:16:21,780 --> 00:16:24,183
PORTFOLIO, AWARDS MORE THAN $430

514
00:16:24,183 --> 00:16:27,052
MILLION A YEAR, INCLUDING OVER 

515
00:16:27,052 --> 00:16:28,320
200 MILLION IN FEDERAL MONEY. 

516
00:16:28,320 --> 00:16:31,557
THIS IS AN ENORMOUS TAX FUNDED 

517
00:16:31,557 --> 00:16:32,825
HOUSING SYSTEM, MUCH OF WHICH 

518
00:16:32,825 --> 00:16:36,428
ULTIMATELY FLOWS TO PRIVATE 

519
00:16:36,428 --> 00:16:38,030
HOUSING PROVIDERS. RECORDS ALSO 

520
00:16:38,030 --> 00:16:39,999
SHOW A DISTURBING PATTERN OF O. 

521
00:16:39,999 --> 00:16:41,700
S TREATMENT OF THE LEGALLY 

522
00:16:41,700 --> 00:16:45,170
DEFINED LOW INCOME TENANTS. THE 

523
00:16:45,170 --> 00:16:46,638
SYSTEM EXISTS TO SERVE, 

524
00:16:46,638 --> 00:16:48,974
INCLUDING EFFORTS TO SILENCE 

525
00:16:48,974 --> 00:16:51,343
TENANTS WHEN THEY ORGANIZE. 

526
00:16:51,343 --> 00:16:54,113
MEANWHILE, OFFICIALS ARE 

527
00:16:54,113 --> 00:16:57,750
APPROVING PROJECT CASH OUTS. HIS

528
00:16:57,750 --> 00:16:59,585
WORDS NOT MINE OR WHAT THE 

529
00:16:59,585 --> 00:17:00,719
COUNCIL CALLS DEBT RESTRUCTURING

530
00:17:00,719 --> 00:17:03,322
AND O. H. S OWN RECORDS DESCRIBE

531
00:17:03,322 --> 00:17:05,924
THE CONSEQUENCES OF CAUSING A 

532
00:17:05,924 --> 00:17:08,027
MAJOR HEADACHE BEFORE APPROVING 

533
00:17:08,027 --> 00:17:10,562
ANOTHER CASH OUT RENT INCREASE, 

534
00:17:10,562 --> 00:17:13,532
OR MULTI-MILLION DOLLAR AWARD 

535
00:17:13,532 --> 00:17:19,872
AUDIT. O H 

536
00:17:19,872 --> 00:17:21,373
-- THANK YOU. AND OUR FINAL 

537
00:17:21,373 --> 00:17:31,550
SPEAKER WILL BE NATALIE QUICK. 

538
00:17:31,784 --> 00:17:32,985
-- GOOD AFTERNOON, 

539
00:17:32,985 --> 00:17:34,686
COUNCILMEMBERS. CAN YOU HEAR ME?

540
00:17:34,686 --> 00:17:36,789
-- WE CAN HEAR YOU. 

541
00:17:36,789 --> 00:17:38,457
-- GREAT. GOOD AFTERNOON, 

542
00:17:38,457 --> 00:17:39,691
COUNCILMEMBERS. MY NAME IS 

543
00:17:39,691 --> 00:17:41,193
NATALIE QUICK AND I'M A 

544
00:17:41,193 --> 00:17:42,528
CO-FOUNDER OF THE SEATTLE 

545
00:17:42,528 --> 00:17:44,063
HOUSING ROUNDTABLE AND HERE 

546
00:17:44,063 --> 00:17:47,132
TODAY TO SPEAK TO THE MHA 2025 

547
00:17:47,132 --> 00:17:51,069
REPORT. ASPECT OF THE OFFICE OF 

548
00:17:51,069 --> 00:17:51,703
HOUSING PRESENTATION TODAY. AS 

549
00:17:51,703 --> 00:17:54,440
YOU KNOW, NEW MULTIFAMILY PERMIT

550
00:17:54,440 --> 00:17:56,075
APPLICATIONS ARE DOWN MORE THAN 

551
00:17:56,075 --> 00:17:57,910
90% AS OF THE CITY OF SEATTLE'S

552
00:17:57,910 --> 00:18:00,646
Q2 HOUSING DASHBOARD REPORT THIS

553
00:18:00,646 --> 00:18:04,283
YEAR. AND THAT'S DOWN 90% AGAIN,

554
00:18:04,283 --> 00:18:06,018
FROM THE BUILDING BOOM HEIGHT IN

555
00:18:06,018 --> 00:18:07,820
2020. WE AGREE THAT MHA HAS BEEN

556
00:18:07,820 --> 00:18:09,588
AND CONTINUES TO BE AN IMPORTANT

557
00:18:09,588 --> 00:18:11,423
ASPECT OF THE OVERALL FUNDING 

558
00:18:11,423 --> 00:18:13,025
FOR O. BUT WITH THAT IN MIND, 

559
00:18:13,025 --> 00:18:15,060
REVENUE FROM MHA IS NOW ONLY 6% 

560
00:18:15,060 --> 00:18:16,829
OF THAT BUDGET, DOWN FROM A 

561
00:18:16,829 --> 00:18:22,468
HEIGHT OF 57% IN 2021. WITHIN 

562
00:18:22,468 --> 00:18:24,369
THE 2025 REPORT, MHA BROUGHT IN 

563
00:18:24,369 --> 00:18:26,371
$47 MILLION. WE WANTED TO MAKE 

564
00:18:26,371 --> 00:18:27,806
PUT A LITTLE CONTEXT TO THAT 

565
00:18:27,806 --> 00:18:31,176
NUMBER. SO THERE IS ONE SENIOR 

566
00:18:31,176 --> 00:18:34,113
MULTI, ONE SENIOR, ONE 

567
00:18:34,113 --> 00:18:34,713
MULTIFAMILY TOWER THAT IS TWO 

568
00:18:34,713 --> 00:18:35,848
SENIOR HOUSING BUILDINGS. THAT 

569
00:18:35,848 --> 00:18:38,584
WAS A $10 MILLION FEE, SOMEWHAT 

570
00:18:38,584 --> 00:18:39,318
OF AN ANOMALY. AND THE REST OF 

571
00:18:39,318 --> 00:18:43,222
THAT MONEY IS EITHER FROM 

572
00:18:43,222 --> 00:18:43,856
TOWNHOMES, WHICH WAS ABOUT 20 

573
00:18:43,856 --> 00:18:45,290
MILLION, AND THEN ABOUT THREE 

574
00:18:45,290 --> 00:18:46,725
OTHER PROJECTS. SO WE JUST 

575
00:18:46,725 --> 00:18:47,960
WANTED TO MAKE SURE THERE WAS 

576
00:18:47,960 --> 00:18:50,529
CONTEXT AROUND THAT KIND OF 

577
00:18:50,529 --> 00:18:52,231
ANOMALY IN FUNDING, WHICH 

578
00:18:52,231 --> 00:18:53,232
HISTORICALLY, OVER THE PAST 

579
00:18:53,232 --> 00:18:55,701
COUPLE YEARS HAS BEEN AROUND 20 

580
00:18:55,701 --> 00:18:58,370
TO $22 MILLION. THANK YOU. 

581
00:18:58,370 --> 00:18:59,438
-- THANK YOU. AND THERE ARE NO 

582
00:18:59,438 --> 00:19:05,077
ADDITIONAL REGISTERED SPEAKERS. 

583
00:19:05,077 --> 00:19:06,111
-- FANTASTIC. THANK YOU SO MUCH.

584
00:19:06,111 --> 00:19:07,312
AND AS ALWAYS, THANK YOU TO ALL 

585
00:19:07,312 --> 00:19:10,182
OF OUR FOLKS WHO CALL IN DURING 

586
00:19:10,182 --> 00:19:10,983
PUBLIC COMMENT. WITH THAT, WE 

587
00:19:10,983 --> 00:19:12,551
WILL NOW MOVE ON TO OUR FIRST 

588
00:19:12,551 --> 00:19:14,219
ITEM OF BUSINESS. WILL THE CLERK

589
00:19:14,219 --> 00:19:15,587
PLEASE READ ITEM ONE INTO THE 

590
00:19:15,587 --> 00:19:15,821
RECORD. 

591
00:19:15,821 --> 00:19:19,124
-- AGENDA? ITEM ONE. APPOINTMENT

592
00:19:19,124 --> 00:19:20,359
03569. APPOINTMENT OF KELLY 

593
00:19:20,359 --> 00:19:21,426
LARSON AS DIRECTOR OF THE OFFICE

594
00:19:21,426 --> 00:19:23,662
OF HOUSING FOR BRIEFING AND 

595
00:19:23,662 --> 00:19:25,430
DISCUSSION. 

596
00:19:25,430 --> 00:19:26,331
-- THANK YOU, AND I AM INVITING 

597
00:19:26,331 --> 00:19:28,066
UP TO THE TABLE AND WELCOMING TO

598
00:19:28,066 --> 00:19:30,035
THE TABLE ACTING DIRECTOR KELLY 

599
00:19:30,035 --> 00:19:32,504
LARSON OF THE OFFICE OF HOUSING 

600
00:19:32,504 --> 00:19:34,072
AND NICOLE BALLESTEROS FROM THE 

601
00:19:34,072 --> 00:19:36,174
MAYOR'S OFFICE. AND BEFORE YOU 

602
00:19:36,174 --> 00:19:36,875
BEGIN JUST TO SET THE STAGE A 

603
00:19:36,875 --> 00:19:39,211
LITTLE BIT, WE'RE NOT VOTING ON

604
00:19:39,211 --> 00:19:41,013
ACTING DIRECTOR LARSON'S 

605
00:19:41,013 --> 00:19:42,214
APPOINTMENT TODAY, BUT I AM 

606
00:19:42,214 --> 00:19:43,482
REALLY PLEASED TO BE CONSIDERING

607
00:19:43,482 --> 00:19:45,284
ACTING DIRECTOR LARSON FOR THIS 

608
00:19:45,284 --> 00:19:46,485
ROLE. COLLEAGUES, THE 

609
00:19:46,485 --> 00:19:48,720
APPOINTMENT PACKET HAS BEEN 

610
00:19:48,720 --> 00:19:49,354
CIRCULATED WITH COUNCILMEMBERS 

611
00:19:49,354 --> 00:19:51,423
AND IS INCLUDED IN THE AGENDA 

612
00:19:51,423 --> 00:19:52,824
PACKET FOR TODAY'S MEETING. 

613
00:19:52,824 --> 00:19:55,661
TODAY IS A CHANCE TO HEAR FROM 

614
00:19:55,661 --> 00:19:56,295
ACTING DIRECTOR LARSON AND FOR 

615
00:19:56,295 --> 00:19:57,696
COMMITTEE MEMBERS TO ASK ANY 

616
00:19:57,696 --> 00:19:59,631
QUESTIONS THAT WE MAY HAVE. OUR 

617
00:19:59,631 --> 00:20:01,500
OFFICE ALSO SENT OUT A LIST OF 

618
00:20:01,500 --> 00:20:04,136
WRITTEN QUESTIONS TO ACTING 

619
00:20:04,136 --> 00:20:04,770
DIRECTOR LARSON, WITH A REQUEST 

620
00:20:04,770 --> 00:20:07,205
TO RESPOND TO THOSE QUESTIONS IN

621
00:20:07,205 --> 00:20:08,440
WRITING BY AUGUST 31st, AND I 

622
00:20:08,440 --> 00:20:09,942
PLAN TO HOLD A VOTE ON HER 

623
00:20:09,942 --> 00:20:11,243
APPOINTMENT IN OUR NEXT 

624
00:20:11,243 --> 00:20:12,444
COMMITTEE MEETING AFTER RECESS, 

625
00:20:12,444 --> 00:20:15,247
WHICH IS GOING TO BE SEPTEMBER 

626
00:20:15,247 --> 00:20:16,915
9th. AS WE ALREADY HEARD TODAY, 

627
00:20:16,915 --> 00:20:18,917
THIS APPOINTMENT COMES AT AN 

628
00:20:18,917 --> 00:20:19,518
INCREDIBLY IMPORTANT TIME FOR 

629
00:20:19,518 --> 00:20:20,485
HOUSING IN THE OFFICE OF HOUSING

630
00:20:20,485 --> 00:20:23,555
HERE IN SEATTLE. WE KNOW THAT 

631
00:20:23,555 --> 00:20:24,990
FAMILIES ARE STRUGGLING WITH 

632
00:20:24,990 --> 00:20:25,991
RISING PRICES, AND THERE ARE A 

633
00:20:25,991 --> 00:20:28,293
NUMBER OF CHALLENGES FACING OUR 

634
00:20:28,293 --> 00:20:29,161
AFFORDABLE HOUSING COMMUNITY, 

635
00:20:29,161 --> 00:20:31,029
INCLUDING THE NEED TO DO DEBT 

636
00:20:31,029 --> 00:20:32,831
RESTRUCTURING, IMPACT FROM 

637
00:20:32,831 --> 00:20:33,699
FEDERAL FUNDING LOSS AND OUR 

638
00:20:33,699 --> 00:20:35,534
ONGOING WORK TO STEM THE TIDE OF

639
00:20:35,534 --> 00:20:36,168
DISPLACEMENT FOR OUR COMMUNITIES

640
00:20:36,168 --> 00:20:39,171
HERE IN SEATTLE. I'M REALLY 

641
00:20:39,171 --> 00:20:40,239
PROUD THAT SEATTLE HAS LED THE 

642
00:20:40,239 --> 00:20:42,474
NATION IN RECENT RECENT YEARS ON

643
00:20:42,474 --> 00:20:43,108
BUILDING NEW AFFORDABLE UNITS, 

644
00:20:43,108 --> 00:20:45,877
AND WE KNOW THAT HAS TO CONTINUE

645
00:20:45,877 --> 00:20:47,479
TO INNOVATE AND ENSURE THAT WE 

646
00:20:47,479 --> 00:20:50,582
ARE MAKING INVESTMENTS THAT BOTH

647
00:20:50,582 --> 00:20:51,183
STRATEGICALLY AND EFFICIENTLY 

648
00:20:51,183 --> 00:20:53,385
EXPAND AND MAINTAIN OUR HOUSING 

649
00:20:53,385 --> 00:20:55,153
SUPPLY HERE IN SEATTLE. I WON'T

650
00:20:55,153 --> 00:20:56,288
SAY TOO MUCH ABOUT KELLY BECAUSE

651
00:20:56,288 --> 00:20:58,423
SHE'S HERE, BUT KELLY BRINGS 20

652
00:20:58,423 --> 00:21:00,359
YEARS OF EXPERIENCE WITHIN THE 

653
00:21:00,359 --> 00:21:01,360
AFFORDABLE HOUSING SECTOR AND 

654
00:21:01,360 --> 00:21:03,762
HAS SERVED AS O. S POLICY AND 

655
00:21:03,762 --> 00:21:04,930
PLANNING DIRECTOR FOR THE LAST 

656
00:21:04,930 --> 00:21:06,398
FIVE YEARS. SHE HAS A DEEP 

657
00:21:06,398 --> 00:21:08,433
UNDERSTANDING OF BOTH THE 

658
00:21:08,433 --> 00:21:08,967
CHALLENGES FACING HOUSING 

659
00:21:08,967 --> 00:21:10,602
PROVIDERS AND KNOWS THE HISTORY 

660
00:21:10,602 --> 00:21:11,770
OF THE PROGRAMS THAT HAVE WORKED

661
00:21:11,770 --> 00:21:13,438
WELL AND WHAT HASN'T HERE IN 

662
00:21:13,438 --> 00:21:15,507
SEATTLE. KELLY, I'M EXCITED TO 

663
00:21:15,507 --> 00:21:16,275
WELL, I'M EXCITED TO HEAR MORE 

664
00:21:16,275 --> 00:21:18,477
ABOUT YOU, BUT I'LL TURN IT 

665
00:21:18,477 --> 00:21:19,611
OVER TO NICOLE FROM THE MAYOR'S

666
00:21:19,611 --> 00:21:22,514
OFFICE FIRST. WELCOME. 

667
00:21:22,514 --> 00:21:23,915
-- HI. THANK YOU, COUNCILMEMBER 

668
00:21:23,915 --> 00:21:25,050
FOSTER. I'M SO EXCITED TO BE 

669
00:21:25,050 --> 00:21:28,854
HERE TO SUPPORT KELLY LARSON. 

670
00:21:28,854 --> 00:21:29,288
AND GOOD AFTERNOON, 

671
00:21:29,288 --> 00:21:33,058
COUNCILMEMBERS. THANK YOU FOR 

672
00:21:33,058 --> 00:21:34,226
THIS TIME. SO KELLY IS MAYOR 

673
00:21:34,226 --> 00:21:35,527
WILSON'S APPOINTEE FOR DIRECTOR

674
00:21:35,527 --> 00:21:37,596
OF THE SEATTLE OFFICE OF HOUSING

675
00:21:37,596 --> 00:21:40,098
FOR THIS HEARING TODAY. SHE LED 

676
00:21:40,098 --> 00:21:42,300
AN INTERNATIONAL MAYOR. WILSON 

677
00:21:42,300 --> 00:21:44,569
LED AN INTERNATIONAL AND 

678
00:21:44,569 --> 00:21:45,304
INTENSIVE PROCESS TO FILL THIS 

679
00:21:45,304 --> 00:21:49,107
ROLE. THIS WAS A COMPETITIVE, 

680
00:21:49,107 --> 00:21:49,841
LONG PROCESS. THANK YOU, 

681
00:21:49,841 --> 00:21:50,676
COUNCILMEMBER FOSTER, FOR BEING 

682
00:21:50,676 --> 00:21:52,210
PART OF IT. AND TO MANY OF THE 

683
00:21:52,210 --> 00:21:53,745
COMMUNITY MEMBERS AND THE STAFF 

684
00:21:53,745 --> 00:21:55,480
FOR PARTICIPATING IN THIS 

685
00:21:55,480 --> 00:21:59,117
PROCESS, THE SEARCH FOCUSED ON 

686
00:21:59,117 --> 00:22:00,452
FINDING A LEADER WHO COULD CARRY

687
00:22:00,452 --> 00:22:02,754
FORWARD THE MAYOR'S HOUSING, 

688
00:22:02,754 --> 00:22:04,890
VISION, VISION, CREATE 

689
00:22:04,890 --> 00:22:05,524
STABILIZATION FOR THE SECTOR AND

690
00:22:05,524 --> 00:22:08,226
FOR THE STAFF, AND THROUGHOUT 

691
00:22:08,226 --> 00:22:09,995
THE PROCESS, THE MAYOR'S OFFICE

692
00:22:09,995 --> 00:22:12,831
ENGAGED KEY AFFORDABLE HOUSING 

693
00:22:12,831 --> 00:22:13,265
PARTNERS, COMMUNITY 

694
00:22:13,265 --> 00:22:14,666
ORGANIZATIONS AND THE STAFF AT 

695
00:22:14,666 --> 00:22:17,502
THE OFFICE OF HOUSING. FROM THAT

696
00:22:17,502 --> 00:22:19,604
INPUT, ONE CLEAR CANDIDATE ROSE 

697
00:22:19,604 --> 00:22:23,575
TO THE TOP. KELLY LARSON I'M 

698
00:22:23,575 --> 00:22:24,676
REPEATING SOME THINGS THAT HAVE 

699
00:22:24,676 --> 00:22:27,446
BEEN SAID, BUT KELLY BRINGS 20 

700
00:22:27,446 --> 00:22:31,016
YEARS OF EXPERIENCE IN THE 

701
00:22:31,016 --> 00:22:32,017
AFFORDABLE HOUSING SECTOR AND 

702
00:22:32,017 --> 00:22:33,618
FOR THE PAST FIVE YEARS HAS 

703
00:22:33,618 --> 00:22:35,687
SERVED AS THE OFFICE OF HOUSING 

704
00:22:35,687 --> 00:22:37,422
POLICY AND PLANNING DIRECTOR IN 

705
00:22:37,422 --> 00:22:39,458
THAT ROLE, SHE LED THE 

706
00:22:39,458 --> 00:22:40,826
REAUTHORIZATION OF THE SEATTLE 

707
00:22:40,826 --> 00:22:41,960
HOUSING LEVY, ONE OF THE LARGEST

708
00:22:41,960 --> 00:22:46,031
OF ITS KIND IN THE NATION. SHE 

709
00:22:46,031 --> 00:22:46,631
CREATED NEW FUNDING PROGRAMS 

710
00:22:46,631 --> 00:22:48,333
THROUGH JUMPSTART TO SUPPORT 

711
00:22:48,333 --> 00:22:50,035
PERMANENT SUPPORTIVE HOUSING AND

712
00:22:50,035 --> 00:22:52,337
AFFORDABLE HOUSING. SHE ALSO LED

713
00:22:52,337 --> 00:22:55,640
THE MULTIFAMILY TAX EXEMPTION 

714
00:22:55,640 --> 00:22:57,509
REAUTHORIZATION WORK TO 

715
00:22:57,509 --> 00:22:58,076
STRENGTHEN HOUSING OPERATOR 

716
00:22:58,076 --> 00:23:00,378
STABILITY AND HELP THE CITY 

717
00:23:00,378 --> 00:23:00,946
RESPOND TO FEDERAL FUNDING 

718
00:23:00,946 --> 00:23:04,316
THREATS MAYOR WILSON SEES KELLY 

719
00:23:04,316 --> 00:23:06,551
EXACTLY AS THE KIND OF 

720
00:23:06,551 --> 00:23:08,687
THOUGHTFUL, VALUES BASED AND 

721
00:23:08,687 --> 00:23:09,287
DECISIVE LEADERSHIP OUR CITY 

722
00:23:09,287 --> 00:23:11,423
NEEDS. SHE HAS THE EXPERIENCE 

723
00:23:11,423 --> 00:23:13,325
AND JUDGMENT TO ADVANCE THE 

724
00:23:13,325 --> 00:23:14,493
HOUSING AGENDA THAT WE NEED AT 

725
00:23:14,493 --> 00:23:16,595
THIS TIME, AND KEEP THIS 

726
00:23:16,595 --> 00:23:18,730
CRITICAL WORK MOVING FORWARD. WE

727
00:23:18,730 --> 00:23:19,931
ARE CONFIDENT THAT SHE WILL 

728
00:23:19,931 --> 00:23:22,367
SERVE SEATTLE WELL, AND WE 

729
00:23:22,367 --> 00:23:23,568
RESPECTFULLY ASK FOR YOUR 

730
00:23:23,568 --> 00:23:26,071
SUPPORT IN CONFIRMING HER 

731
00:23:26,071 --> 00:23:28,073
APPOINTMENT. THANK YOU. KELLY IS

732
00:23:28,073 --> 00:23:30,442
HERE TODAY AND LOOKS FORWARD TO 

733
00:23:30,442 --> 00:23:37,949
ANSWERING YOUR QUESTIONS 

734
00:23:37,949 --> 00:23:38,283
-- MY TURN. 

735
00:23:38,283 --> 00:23:39,618
-- THANK YOU FOR THAT, NICOLE. I

736
00:23:39,618 --> 00:23:40,419
APPRECIATE THAT, AND I WANT TO 

737
00:23:40,419 --> 00:23:42,053
HAND IT OVER TO KELLY TO SHARE A

738
00:23:42,053 --> 00:23:43,288
LITTLE BIT. AND THEN, 

739
00:23:43,288 --> 00:23:44,723
COLLEAGUES, I'LL BE TURNING TO 

740
00:23:44,723 --> 00:23:48,093
YOU FOR QUESTIONS. 

741
00:23:48,093 --> 00:23:49,027
-- CHAIR FOSTER COUNCILMEMBER 

742
00:23:49,027 --> 00:23:51,196
RINCK AND VICE CHAIR LYNN, I'M 

743
00:23:51,196 --> 00:23:52,998
HONORED TO BE CONSIDERED AS THE 

744
00:23:52,998 --> 00:23:54,766
NEXT DIRECTOR OF THE OFFICE OF 

745
00:23:54,766 --> 00:23:56,434
HOUSING. I WANT TO THANK THIS 

746
00:23:56,434 --> 00:23:57,235
INCREDIBLE COMMUNITY WHO SHOWED 

747
00:23:57,235 --> 00:23:58,737
UP HERE TODAY. THESE ARE ALL 

748
00:23:58,737 --> 00:23:59,371
PEOPLE WHO DO CRITICAL WORK IN 

749
00:23:59,371 --> 00:24:02,240
OUR CITY, WHO HAVE TAUGHT ME SO 

750
00:24:02,240 --> 00:24:04,142
MUCH OVER THE YEARS, SHAPED THE 

751
00:24:04,142 --> 00:24:06,077
PERSON THAT I AM AND WHO 

752
00:24:06,077 --> 00:24:08,246
COLLECTIVELY SUPPORT OUR SHARED 

753
00:24:08,246 --> 00:24:10,415
CAUSE OF HOUSING JUSTICE. NO 

754
00:24:10,415 --> 00:24:11,950
PERSON CAN DO THIS WORK ALONE. 

755
00:24:11,950 --> 00:24:14,052
WE DEVELOP BETTER IDEAS AND 

756
00:24:14,052 --> 00:24:14,686
ACHIEVE STRONGER OUTCOMES WHEN 

757
00:24:14,686 --> 00:24:17,255
WE WORK IN PARTNERSHIP AND 

758
00:24:17,255 --> 00:24:20,525
COALITION WITH OTHERS. IN THIS 

759
00:24:20,525 --> 00:24:21,126
ROLE, THAT MEANS THE ENTIRE 

760
00:24:21,126 --> 00:24:21,927
STAFF TEAM AT THE OFFICE OF 

761
00:24:21,927 --> 00:24:26,498
HOUSING, GOVERNMENT PARTNERS, 

762
00:24:26,498 --> 00:24:27,132
ELECTED OFFICIALS AND INVESTORS,

763
00:24:27,132 --> 00:24:28,066
ALL THE DIFFERENT WORKERS, 

764
00:24:28,066 --> 00:24:29,968
COMMUNITY PARTNERS AND 

765
00:24:29,968 --> 00:24:30,502
ORGANIZATIONS THAT BUILD, 

766
00:24:30,502 --> 00:24:32,704
PRESERVE AND OPERATE AFFORDABLE 

767
00:24:32,704 --> 00:24:34,072
HOMES, AND THE RESIDENTS WHO 

768
00:24:34,072 --> 00:24:36,308
LIVE IN THESE HOMES, THEY 

769
00:24:36,308 --> 00:24:37,676
PROVIDE SOME OF OUR MOST 

770
00:24:37,676 --> 00:24:41,713
IMPORTANT FEEDBACK. I'VE BEEN 

771
00:24:41,713 --> 00:24:42,514
PRIVILEGED TO WORK IN THIS FIELD

772
00:24:42,514 --> 00:24:45,050
FOR NEARLY 20 YEARS, REPEATING 

773
00:24:45,050 --> 00:24:47,152
THAT NUMBER AGAIN AND AGAIN IS A

774
00:24:47,152 --> 00:24:48,520
LITTLE CHALLENGING. I STARTED AT

775
00:24:48,520 --> 00:24:50,155
KING COUNTY, WORKING ON THE 

776
00:24:50,155 --> 00:24:51,623
FIRST VETERANS AND HUMAN 

777
00:24:51,623 --> 00:24:53,491
SERVICES LEVY. I SPENT SOME 

778
00:24:53,491 --> 00:24:54,125
GREAT YEARS AT PLYMOUTH HOUSING 

779
00:24:54,125 --> 00:24:55,493
WITH MANY OF THESE FOLKS, AND 

780
00:24:55,493 --> 00:24:59,331
HAVE BEEN AT, OH, JOINED HERE TO

781
00:24:59,331 --> 00:25:00,131
WORK ON THE REVERED SEATTLE 

782
00:25:00,131 --> 00:25:02,067
HOUSING LEVY, WHICH IS OUR 

783
00:25:02,067 --> 00:25:02,767
CITY'S FOUNDATIONAL REVENUE TOOL

784
00:25:02,767 --> 00:25:06,037
FOR HOUSING. THE MOST IMPORTANT 

785
00:25:06,037 --> 00:25:07,973
WORK WE DO AT O IS TO INVEST IN 

786
00:25:07,973 --> 00:25:09,674
PERMANENTLY AFFORDABLE HOMES FOR

787
00:25:09,674 --> 00:25:11,476
THOSE MOST IN NEED, HOUSING THAT

788
00:25:11,476 --> 00:25:13,111
IS PROTECTED FROM PROFIT 

789
00:25:13,111 --> 00:25:15,247
MOTIVES, ESPECIALLY IN THIS TIME

790
00:25:15,247 --> 00:25:16,381
WE ARE IN. WE MUST FIND THE 

791
00:25:16,381 --> 00:25:18,250
RIGHT BALANCE FOR OUR 

792
00:25:18,250 --> 00:25:20,218
INVESTMENTS, PRESERVING THE 

793
00:25:20,218 --> 00:25:22,220
HOMES WE HAVE AND BUILDING NEW 

794
00:25:22,220 --> 00:25:25,924
HOMES, SUPPORTING HOUSING 

795
00:25:25,924 --> 00:25:28,727
OPERATIONS AND NEW DEVELOPMENT. 

796
00:25:28,727 --> 00:25:30,662
INVESTING IN RENTAL HOUSING AND 

797
00:25:30,662 --> 00:25:32,998
HOMEOWNERSHIP OPPORTUNITIES AT 

798
00:25:32,998 --> 00:25:35,500
ITS BEST, AFFORDABLE HOUSING 

799
00:25:35,500 --> 00:25:36,134
PROVIDES STABILITY FOR FAMILIES 

800
00:25:36,134 --> 00:25:38,670
AND INDIVIDUALS TO THRIVE. 

801
00:25:38,670 --> 00:25:41,506
AFFORDABLE HOMES PROVIDE 

802
00:25:41,506 --> 00:25:42,173
CONSISTENT SHELTER FOR PEOPLE TO

803
00:25:42,173 --> 00:25:44,709
WEATHER THE MANY STORMS THAT 

804
00:25:44,709 --> 00:25:48,113
LIFE BRINGS. AFFORDABLE HOUSING 

805
00:25:48,113 --> 00:25:49,381
AND HOMELESSNESS. THANK YOU FOR 

806
00:25:49,381 --> 00:25:49,881
CONSIDERING ME FOR THIS 

807
00:25:49,881 --> 00:25:51,750
IMPORTANT ROLE. 

808
00:25:51,750 --> 00:25:54,553
-- THANK YOU SO MUCH FOR THAT. 

809
00:25:54,553 --> 00:25:55,587
AND YEAH, I THINK WE'LL JUST 

810
00:25:55,587 --> 00:25:56,755
MAKE A GAME OUT OF SAYING 20 

811
00:25:56,755 --> 00:26:00,091
YEARS NOW. SO I'LL I'LL INVITE

812
00:26:00,091 --> 00:26:01,726
MY COLLEAGUES TO PARTICIPATE IN 

813
00:26:01,726 --> 00:26:03,428
THAT. I WILL FIRST TURN TO 

814
00:26:03,428 --> 00:26:04,396
COLLEAGUES TO SEE WHAT QUESTIONS

815
00:26:04,396 --> 00:26:08,400
YOU HAVE FOR ACTING DIRECTOR 

816
00:26:08,400 --> 00:26:14,773
LARSON. 

817
00:26:14,773 --> 00:26:15,140
-- RAISE YOUR. 

818
00:26:15,140 --> 00:26:22,647
-- HAND MANUALLY 

819
00:26:22,881 --> 00:26:29,421
-- I'LL START, IF THAT'S OKAY.

820
00:26:29,421 --> 00:26:30,088
CHAIR. DON'T REALLY HAVE A LOT 

821
00:26:30,088 --> 00:26:33,224
OF QUESTIONS SINCE WE HAD THE 

822
00:26:33,224 --> 00:26:38,730
ABILITY TO TO WORK TOGETHER FOR 

823
00:26:38,730 --> 00:26:39,331
MANY YEARS. SUPER EXCITED FOR 

824
00:26:39,331 --> 00:26:42,767
TODAY AND FOR THE WORK TO COME 

825
00:26:42,767 --> 00:26:48,673
YOU KNOW, ONE OF MY CONCERNS IS 

826
00:26:48,673 --> 00:26:49,274
WHO IS GOING TO REPLACE, YOU 

827
00:26:49,274 --> 00:26:51,109
KNOW, YOUR OLD ROLE AS POLICY 

828
00:26:51,109 --> 00:26:52,177
DIRECTOR BECAUSE YOU DID SUCH A 

829
00:26:52,177 --> 00:26:54,779
GOOD JOB. AND THOSE ARE TOUGH 

830
00:26:54,779 --> 00:26:57,649
SHOES TO FILL. I DON'T EXPECT A

831
00:26:57,649 --> 00:27:01,119
RESPONSE, BUT LOOK FORWARD TO 

832
00:27:01,119 --> 00:27:03,989
WHOEVER STEPS INTO THAT ROLE AS 

833
00:27:03,989 --> 00:27:07,425
WELL. OBVIOUSLY BIG CHALLENGES 

834
00:27:07,425 --> 00:27:15,533
AHEAD OF US. SO NOT AS WE WERE 

835
00:27:15,533 --> 00:27:16,167
JOKING EARLIER, A LITTLE BIT OF 

836
00:27:16,167 --> 00:27:16,801
A CONGRATULATIONS, A LITTLE BIT 

837
00:27:16,801 --> 00:27:17,435
OF CONDOLENCES. THIS IS GOING TO

838
00:27:17,435 --> 00:27:20,472
BE HARD. AND BUT AS I SAID 

839
00:27:20,472 --> 00:27:23,341
EARLIER, I CAN'T IMAGINE ANYONE

840
00:27:23,341 --> 00:27:25,644
ELSE BETTER SUITED TO TAKE ON 

841
00:27:25,644 --> 00:27:30,582
THIS REALLY DIFFICULT ROLE. AND 

842
00:27:30,582 --> 00:27:31,916
YOU KNOW, MOST OF ALL, I THINK I

843
00:27:31,916 --> 00:27:39,824
JUST VALUE YOUR YOU KNOW, BOTH 

844
00:27:39,824 --> 00:27:41,459
YOUR VALUES AND YOUR TRUSTED 

845
00:27:41,459 --> 00:27:44,329
LEADERSHIP, BUT ALSO JUST YOUR 

846
00:27:44,329 --> 00:27:44,829
THOUGHTFULNESS AND YOUR 

847
00:27:44,829 --> 00:27:45,964
STRATEGIC THINKING. YOU KNOW, 

848
00:27:45,964 --> 00:27:49,467
THESE ARE REALLY COMPLEX 

849
00:27:49,467 --> 00:27:53,938
PROBLEMS. AND, YOU KNOW, I JUST 

850
00:27:53,938 --> 00:27:54,572
APPRECIATE HOW YOU APPROACH THE 

851
00:27:54,572 --> 00:27:59,411
WORK AND WORK IN PARTNERSHIP. 

852
00:27:59,411 --> 00:28:02,781
AND THAT'S JUST GOING TO BE SO,

853
00:28:02,781 --> 00:28:05,283
SO CRITICAL RIGHT NOW, WHETHER 

854
00:28:05,283 --> 00:28:06,885
IT'S PARTNERSHIP WITH OUR 

855
00:28:06,885 --> 00:28:07,519
HOUSING PROVIDERS, PARTNERSHIP 

856
00:28:07,519 --> 00:28:10,488
WITH US ON COUNCIL AND 

857
00:28:10,488 --> 00:28:12,557
PARTNERSHIP ACROSS, YOU KNOW, 

858
00:28:12,557 --> 00:28:13,892
WITH OUR COUNTY PARTNERS, STATE 

859
00:28:13,892 --> 00:28:15,627
PARTNERS, YOU KNOW, SO MANY 

860
00:28:15,627 --> 00:28:16,261
DIFFERENT PARTNERSHIPS THAT WE 

861
00:28:16,261 --> 00:28:19,497
NEED TO WORK TOGETHER. SO AGAIN,

862
00:28:19,497 --> 00:28:20,265
DON'T REALLY HAVE ANY 

863
00:28:20,265 --> 00:28:22,167
QUESTIONS, BUT JUST WANTED TO 

864
00:28:22,167 --> 00:28:26,571
SAY, SO EXCITED TO, TO HAVE YOU 

865
00:28:26,571 --> 00:28:28,506
HERE AT THE TABLE AND LOOK 

866
00:28:28,506 --> 00:28:30,508
FORWARD TO WORKING WITH YOU. 

867
00:28:30,508 --> 00:28:31,409
-- THANK YOU SO MUCH, VICE CHAIR

868
00:28:31,409 --> 00:28:33,945
LYNN. I APPRECIATE THAT. 

869
00:28:33,945 --> 00:28:35,447
COUNCILMEMBER RINCK YOU'RE 

870
00:28:35,447 --> 00:28:35,747
RECOGNIZED. 

871
00:28:35,747 --> 00:28:37,849
-- THANK YOU, CHAIR FOSTER. I 

872
00:28:37,849 --> 00:28:39,651
THINK ONE OF THE BENEFICIAL 

873
00:28:39,651 --> 00:28:40,251
THINGS ABOUT YOUR APPOINTMENT 

874
00:28:40,251 --> 00:28:41,086
COMING BEFORE US IS JUST THE 

875
00:28:41,086 --> 00:28:43,054
MATTER THAT WE'VE I KNOW MY 

876
00:28:43,054 --> 00:28:44,322
OFFICE HAS HAD THE PLEASURE OF 

877
00:28:44,322 --> 00:28:45,790
WORKING ALONGSIDE YOU FOR THE 

878
00:28:45,790 --> 00:28:46,791
PAST YEAR, SO WE'VE GOTTEN TO 

879
00:28:46,791 --> 00:28:48,326
KNOW YOUR WORK STYLE, HOW YOU 

880
00:28:48,326 --> 00:28:49,027
MOVE THROUGH THE WORK. AND IT'S

881
00:28:49,027 --> 00:28:49,994
CLEAR THAT MANY FOLKS WHO HAVE 

882
00:28:49,994 --> 00:28:53,264
BEEN INVOLVED IN THE WORK OF 

883
00:28:53,264 --> 00:28:53,898
BRINGING ONLINE AFFORDABLE HOMES

884
00:28:53,898 --> 00:28:55,667
FOR OUR COMMUNITY, TRUST IN YOU.

885
00:28:55,667 --> 00:28:58,236
AND SO I THINK JUST TO BUILD ON 

886
00:28:58,236 --> 00:28:59,070
SOME OF THE POINTS THAT VICE 

887
00:28:59,070 --> 00:28:59,838
CHAIR LYNN RAISED, YOU KNOW, 

888
00:28:59,838 --> 00:29:02,640
THERE ARE REAL CHALLENGES FACING

889
00:29:02,640 --> 00:29:03,675
THE AFFORDABLE HOUSING SECTOR. 

890
00:29:03,675 --> 00:29:05,443
WE'VE TALKED ABOUT THEM AND 

891
00:29:05,443 --> 00:29:07,078
UNPACKED THEM IN THIS COMMITTEE 

892
00:29:07,078 --> 00:29:13,418
OVER THE PAST YEAR. AND I THINK 

893
00:29:13,418 --> 00:29:14,018
JUST HOLISTICALLY WONDERING, 

894
00:29:14,018 --> 00:29:15,954
UNDER YOUR DIRECTION, OVER THE 

895
00:29:15,954 --> 00:29:16,721
OFFICE OF HOUSING, WHAT ARE SOME

896
00:29:16,721 --> 00:29:18,957
OF THE IMMEDIATE SHORT TERM 

897
00:29:18,957 --> 00:29:19,591
CHANGES YOU'RE ANTICIPATING? 

898
00:29:19,591 --> 00:29:21,626
MEDIUM TERM AND LONG TERM, IN 

899
00:29:21,626 --> 00:29:23,094
TERMS OF ADDRESSING SOME OF THE 

900
00:29:23,094 --> 00:29:30,602
CHALLENGES FACING THE INDUSTRY 

901
00:29:30,602 --> 00:29:32,637
-- THAT'S A GREAT QUESTION. WE 

902
00:29:32,637 --> 00:29:37,675
ARE LOOKING SO OUR LARGEST 

903
00:29:37,675 --> 00:29:39,778
FUNDING OPPORTUNITY IS CURRENTLY

904
00:29:39,778 --> 00:29:41,946
ACTIVE. THAT IS OUR RENTAL 

905
00:29:41,946 --> 00:29:44,249
HOUSING NOFA. WE'VE RELEASED 

906
00:29:44,249 --> 00:29:46,451
$110 MILLION FOR PRESERVATION 

907
00:29:46,451 --> 00:29:48,453
AND NEW PRODUCTION OF AFFORDABLE

908
00:29:48,453 --> 00:29:50,889
HOMES. IT WILL BE OUR OFFICE'S 

909
00:29:50,889 --> 00:29:52,423
PRIORITY TO ENSURE THAT THOSE 

910
00:29:52,423 --> 00:29:57,529
INVESTMENTS ARE LANDING AS 

911
00:29:57,529 --> 00:29:58,129
STRATEGICALLY AS POSSIBLE IN 

912
00:29:58,129 --> 00:29:58,730
COMMUNITIES WHERE AFFORDABLE 

913
00:29:58,730 --> 00:30:01,032
HOMES ARE MOST NEEDED, AND WITH 

914
00:30:01,032 --> 00:30:04,235
TYPOLOGIES, BEDROOM SIZES FOR 

915
00:30:04,235 --> 00:30:05,270
FAMILIES AND OTHERS WHO NEED 

916
00:30:05,270 --> 00:30:09,307
THEM, AND AT RENT LEVELS THAT 

917
00:30:09,307 --> 00:30:10,642
ARE COMPETITIVE IN THE MARKETS 

918
00:30:10,642 --> 00:30:12,143
THAT THEY ARE LOCATED IN. SO OUR

919
00:30:12,143 --> 00:30:14,646
TEAM WILL BE WORKING REALLY 

920
00:30:14,646 --> 00:30:17,115
COLLABORATIVELY ACROSS ALL OF 

921
00:30:17,115 --> 00:30:18,249
OUR DIVISIONS TO LOOK CLOSELY AT

922
00:30:18,249 --> 00:30:19,751
ALL THE APPLICATIONS THAT ARE 

923
00:30:19,751 --> 00:30:21,953
COMING THROUGH AND MAKE REALLY 

924
00:30:21,953 --> 00:30:23,388
STRATEGIC DECISIONS THIS YEAR 

925
00:30:23,388 --> 00:30:26,090
WITH OUR INVESTMENTS. THAT'S A 

926
00:30:26,090 --> 00:30:27,559
REAL NEAR-TERM CHOICE THAT WE 

927
00:30:27,559 --> 00:30:29,494
HAVE. WE ALSO HAVE OUR 

928
00:30:29,494 --> 00:30:30,862
HOMEOWNERSHIP NOFAS IN ACTION, 

929
00:30:30,862 --> 00:30:33,231
AND THERE ARE SOME DECISIONS 

930
00:30:33,231 --> 00:30:38,670
BEING MADE THERE. AND WE HAVE 

931
00:30:38,670 --> 00:30:39,304
OTHER INVESTMENTS ON THE HORIZON

932
00:30:39,304 --> 00:30:42,540
FOR DEBT RESTRUCTURING, DEBT BUY

933
00:30:42,540 --> 00:30:44,742
DOWN COMING LATER IN THE FALL. 

934
00:30:44,742 --> 00:30:49,113
WE DO BELIEVE THAT JUST IN 

935
00:30:49,113 --> 00:30:49,681
TALKING WITH OUR COMMUNITY 

936
00:30:49,681 --> 00:30:50,315
PARTNERS AND OUR STAFF WHO ARE 

937
00:30:50,315 --> 00:30:52,417
WELL INFORMED ON THESE ISSUES, 

938
00:30:52,417 --> 00:30:54,652
THAT WE WILL LIKELY BE IN THIS 

939
00:30:54,652 --> 00:30:58,056
POSITION OF INVESTING IN 

940
00:30:58,056 --> 00:30:58,523
PRESERVATION AND DEBT 

941
00:30:58,523 --> 00:30:59,390
RESTRUCTURING TYPES OF 

942
00:30:59,390 --> 00:31:00,892
INVESTMENTS AT A HIGHER LEVEL 

943
00:31:00,892 --> 00:31:04,929
THAN WE EVER HAVE FOR THE NEAR 

944
00:31:04,929 --> 00:31:05,597
TERM. CAN'T REALLY PREDICT WHAT

945
00:31:05,597 --> 00:31:08,266
THAT LOOKS LIKE AS IT IS. BUDGET

946
00:31:08,266 --> 00:31:09,667
CONTINGENT REALLY DEPENDS ON THE

947
00:31:09,667 --> 00:31:11,769
FUNDING SOURCES WE HAVE 

948
00:31:11,769 --> 00:31:13,438
AVAILABLE AND AT WHAT LEVELS. 

949
00:31:13,438 --> 00:31:15,974
BUT CERTAINLY FOR THIS YEAR, 

950
00:31:15,974 --> 00:31:17,442
WE'RE CONTINUING THE TREND THAT

951
00:31:17,442 --> 00:31:18,943
WE WERE ON LAST YEAR. AND THEN 

952
00:31:18,943 --> 00:31:21,246
WE'LL HAVE TO SEE FOR 2027 

953
00:31:21,246 --> 00:31:25,416
DEPENDS ON ON BUDGET LONG TERM, 

954
00:31:25,416 --> 00:31:27,652
MAYBE ANOTHER SHORT TERM WE'D 

955
00:31:27,652 --> 00:31:31,556
LIKE TO GET TO A CONVERSATION 

956
00:31:31,556 --> 00:31:32,056
ABOUT HOW WE REOPEN THE 

957
00:31:32,056 --> 00:31:33,458
PERMANENT SUPPORTIVE HOUSING 

958
00:31:33,458 --> 00:31:34,592
PIPELINE. CURRENTLY, WE'RE NOT 

959
00:31:34,592 --> 00:31:36,694
FUNDING NEW SUPPORTIVE HOUSING. 

960
00:31:36,694 --> 00:31:38,363
IT'S VERY DIFFICULT FOR OUR 

961
00:31:38,363 --> 00:31:40,431
CITY TO ADDRESS HOMELESSNESS IF 

962
00:31:40,431 --> 00:31:45,103
WE'RE NOT GROWING OUR SUPPLY OF

963
00:31:45,103 --> 00:31:45,737
SUPPORTIVE HOUSING. WE ALSO NEED

964
00:31:45,737 --> 00:31:47,739
MANY OTHER PARTNERS AT THE TABLE

965
00:31:47,739 --> 00:31:51,809
IN ORDER TO HAVE SUCCESS WITH 

966
00:31:51,809 --> 00:31:54,178
OUR SUPPORTIVE HOUSING PROJECTS 

967
00:31:54,178 --> 00:31:55,747
CAPITAL LESS SO LONG TERM 

968
00:31:55,747 --> 00:31:57,248
OPERATING, MAINTENANCE AND 

969
00:31:57,248 --> 00:31:59,651
SERVICES EXPENSES ARE THE MOST 

970
00:31:59,651 --> 00:32:00,184
IMPORTANT PART THAT THOSE 

971
00:32:00,184 --> 00:32:02,120
PROJECTS COST A DECENT AMOUNT OF

972
00:32:02,120 --> 00:32:04,055
MONEY TO OPERATE AS IS, AS IS 

973
00:32:04,055 --> 00:32:06,257
WELL JUSTIFIED, AND WE NEED 

974
00:32:06,257 --> 00:32:07,725
OTHER PARTNERS AT THE TABLE TO 

975
00:32:07,725 --> 00:32:09,994
MAKE THAT HAPPEN. SO WE'LL BE 

976
00:32:09,994 --> 00:32:11,796
INTERESTED IN LAUNCHING THOSE 

977
00:32:11,796 --> 00:32:12,897
CONVERSATIONS IN THE NEXT 

978
00:32:12,897 --> 00:32:17,368
SEVERAL MONTHS TO TALK ABOUT HOW

979
00:32:17,368 --> 00:32:18,036
WE GET THERE. FINALLY, I MEAN, I

980
00:32:18,036 --> 00:32:20,772
GUESS I'LL JUST BRIEFLY RESPOND

981
00:32:20,772 --> 00:32:21,306
TO COUNCILMEMBER LYNN'S 

982
00:32:21,306 --> 00:32:24,876
QUESTION, TOO, BECAUSE WE HUMAN 

983
00:32:24,876 --> 00:32:27,278
RESOURCES ITEMS HAVE BEEN A HIGH

984
00:32:27,278 --> 00:32:28,379
PRIORITY FOR ME JUST IN THE 

985
00:32:28,379 --> 00:32:31,749
FIRST COUPLE OF WEEKS OF BEING 

986
00:32:31,749 --> 00:32:33,284
IN THIS ROLE. AND SO WE ARE 

987
00:32:33,284 --> 00:32:36,454
MOVING AS QUICKLY AS WE CAN. AND

988
00:32:36,454 --> 00:32:38,389
I'M ALSO VERY INTERESTED IN 

989
00:32:38,389 --> 00:32:39,490
ENSURING THAT THE PERSON WHO 

990
00:32:39,490 --> 00:32:42,160
STEPS INTO THE POLICY DIRECTOR 

991
00:32:42,160 --> 00:32:43,661
ROLE IS ABLE TO LEAD US WELL 

992
00:32:43,661 --> 00:32:45,496
THROUGH THESE CHALLENGING TIMES.

993
00:32:45,496 --> 00:32:46,164
I LOOK FORWARD TO THAT PROCESS 

994
00:32:46,164 --> 00:32:50,601
AND WE'LL GET THAT GOING AS 

995
00:32:50,601 --> 00:32:50,902
SOON. 

996
00:32:50,902 --> 00:32:52,403
-- THANK YOU SO MUCH FOR 

997
00:32:52,403 --> 00:32:53,938
UNPACKING A LITTLE BIT WHAT'S ON

998
00:32:53,938 --> 00:32:56,040
THE HORIZON. AND I WANT TO JUST 

999
00:32:56,040 --> 00:32:57,809
NOTE HOW MUCH I APPRECIATE THE 

1000
00:32:57,809 --> 00:32:59,344
INTENTION ON BEING STRATEGIC 

1001
00:32:59,344 --> 00:33:00,845
WITH THE INVESTMENTS WE HAVE IN 

1002
00:33:00,845 --> 00:33:04,115
THE OFFICE OF HOUSING. ALSO, IN 

1003
00:33:04,115 --> 00:33:04,682
FULL RECOGNITION THAT THE 

1004
00:33:04,682 --> 00:33:05,383
LANDSCAPE WE'RE WORKING IN 

1005
00:33:05,383 --> 00:33:07,752
BETWEEN A REALLY CHALLENGING 

1006
00:33:07,752 --> 00:33:09,721
ECONOMY, RISING CONSTRUCTION 

1007
00:33:09,721 --> 00:33:11,422
COSTS AND A QUICKLY CHANGING 

1008
00:33:11,422 --> 00:33:12,056
FEDERAL FUNDING LANDSCAPE MAKES 

1009
00:33:12,056 --> 00:33:14,625
IT REALLY CHALLENGING TO BE 

1010
00:33:14,625 --> 00:33:16,094
STRATEGIC WITH ALL OF THOSE 

1011
00:33:16,094 --> 00:33:18,162
VARIABLES IN PLAY. AND SO I 

1012
00:33:18,162 --> 00:33:19,864
APPRECIATE THE FOCUS ON THAT AND

1013
00:33:19,864 --> 00:33:22,567
FULL RECOGNITION THAT THESE ARE 

1014
00:33:22,567 --> 00:33:23,134
UNPRECEDENTED TIMES. AND I 

1015
00:33:23,134 --> 00:33:25,169
DON'T KNOW HOW MANY TIMES I CAN

1016
00:33:25,169 --> 00:33:25,837
SAY THAT OR HOW MANY TIMES I'VE

1017
00:33:25,837 --> 00:33:27,805
SAID THAT IN THE PAST YEAR. I 

1018
00:33:27,805 --> 00:33:29,173
THINK TO THAT POINT, AND YOU 

1019
00:33:29,173 --> 00:33:30,074
TOUCHED ON THIS WITH JUST A 

1020
00:33:30,074 --> 00:33:31,676
MATTER OF LIKE PRESERVATION AND 

1021
00:33:31,676 --> 00:33:34,045
DEBT RESTRUCTURING. I THINK 

1022
00:33:34,045 --> 00:33:35,079
THERE'S THE MATTER OF HOW THE 

1023
00:33:35,079 --> 00:33:36,414
OFFICE OF HOUSING WILL BE 

1024
00:33:36,414 --> 00:33:37,515
BALANCING THE NEED FOR HOUSING 

1025
00:33:37,515 --> 00:33:38,082
PRODUCTION AND KNOWING THE 

1026
00:33:38,082 --> 00:33:39,584
GROWING NEED ON OPERATIONS AND 

1027
00:33:39,584 --> 00:33:40,852
MAINTENANCE. SO I'M WONDERING 

1028
00:33:40,852 --> 00:33:41,586
FOR YOU, WHAT ARE SOME OF THE 

1029
00:33:41,586 --> 00:33:43,955
KEY METRICS OF HOW WE'RE GOING 

1030
00:33:43,955 --> 00:33:45,823
TO BE EVALUATING THE BALANCE OF 

1031
00:33:45,823 --> 00:33:48,459
THOSE TWO? 

1032
00:33:48,459 --> 00:33:50,161
-- THE OFFICE OF HOUSING HAS 

1033
00:33:50,161 --> 00:33:51,262
BEEN GROUNDED AND GUIDED BY THE 

1034
00:33:51,262 --> 00:33:53,498
SEATTLE HOUSING LEVY GOALS FOR 

1035
00:33:53,498 --> 00:33:55,199
40 YEARS, AND THAT THOSE GOALS, 

1036
00:33:55,199 --> 00:33:57,035
WHICH ARE APPROVED BY THE 

1037
00:33:57,035 --> 00:33:58,903
VOTERS, ARE VERY IMPORTANT TO 

1038
00:33:58,903 --> 00:34:00,905
OUR TEAM. AND WE'LL TALK ABOUT 

1039
00:34:00,905 --> 00:34:03,608
THIS A LITTLE BIT LATER IN THE 

1040
00:34:03,608 --> 00:34:07,712
NEXT PRESENTATION. BUT THE 

1041
00:34:07,712 --> 00:34:09,447
ACHIEVING THE GOALS OF THE 

1042
00:34:09,447 --> 00:34:13,050
HOUSING LEVY, WHICH PRIMARILY 

1043
00:34:13,050 --> 00:34:13,918
FOCUSES ON PRODUCTION OF RENTAL 

1044
00:34:13,918 --> 00:34:16,254
HOUSING AND PRODUCTION OF 

1045
00:34:16,254 --> 00:34:17,688
HOMEOWNERSHIP, HOUSING, THAT'S 

1046
00:34:17,688 --> 00:34:19,056
OUR NORTH STAR. IT HAS BEEN FOR 

1047
00:34:19,056 --> 00:34:23,561
A LONG TIME. WE BELIEVE WE CAN 

1048
00:34:23,561 --> 00:34:24,529
DO BOTH. THE ACHIEVEMENT OF THE 

1049
00:34:24,529 --> 00:34:27,598
SEATTLE HOUSING LEVY GOALS AND 

1050
00:34:27,598 --> 00:34:28,800
THE PRESERVATION AND SUPPORT OF 

1051
00:34:28,800 --> 00:34:31,369
OPERATIONS OF OUR PORTFOLIO. 

1052
00:34:31,369 --> 00:34:35,072
AGAIN, IT DOES DEPEND ON WHAT 

1053
00:34:35,072 --> 00:34:35,706
THE FUTURE HOLDS FOR THE OFFICE 

1054
00:34:35,706 --> 00:34:37,275
OF HOUSING BUDGET, BUT WE HAVE 

1055
00:34:37,275 --> 00:34:39,944
FOUND WAYS TO BE CREATIVE WITH 

1056
00:34:39,944 --> 00:34:41,646
THE RESOURCES THAT WE HAVE, AND 

1057
00:34:41,646 --> 00:34:45,216
I THINK IT WILL BE LIKELY A 

1058
00:34:45,216 --> 00:34:48,519
SIMILAR CATEGORICAL SPLIT 

1059
00:34:48,519 --> 00:34:50,354
BETWEEN NEW PRODUCTION 

1060
00:34:50,354 --> 00:34:53,458
PRESERVATION, DEBT RESTRUCTURING

1061
00:34:53,458 --> 00:34:55,493
AND HOUSING OPERATIONS NEXT 

1062
00:34:55,493 --> 00:34:56,828
YEAR. THIS YEAR AND LAST YEAR, 

1063
00:34:56,828 --> 00:34:58,229
IT WILL LIKELY LOOK VERY 

1064
00:34:58,229 --> 00:35:00,565
SIMILAR. IT DEPENDS ON THE 

1065
00:35:00,565 --> 00:35:05,036
COMPETITION. THE BENEFIT OF THE 

1066
00:35:05,036 --> 00:35:06,103
OPEN PROCUREMENT THAT THE OFFICE

1067
00:35:06,103 --> 00:35:07,238
RUNS IS THAT YOU HAVE A LOT OF 

1068
00:35:07,238 --> 00:35:08,206
PROJECTS COME THROUGH. WE HAVE 

1069
00:35:08,206 --> 00:35:10,641
AN OPPORTUNITY TO MEET AND HEAR 

1070
00:35:10,641 --> 00:35:14,545
FROM A LOT OF DIFFERENT 

1071
00:35:14,545 --> 00:35:15,079
APPLICANTS, AND SOMETIMES 

1072
00:35:15,079 --> 00:35:16,881
THERE'S PROJECTS THAT WE'RE NOT

1073
00:35:16,881 --> 00:35:17,849
AWARE OF THAT COME THROUGH AND 

1074
00:35:17,849 --> 00:35:19,417
THEY END UP, YOU KNOW, WINNING, 

1075
00:35:19,417 --> 00:35:21,886
WINNING THROUGH FAIR 

1076
00:35:21,886 --> 00:35:22,987
COMPETITION. SO IT WILL BE 

1077
00:35:22,987 --> 00:35:23,888
IMPORTANT TO SEE WHAT THOSE 

1078
00:35:23,888 --> 00:35:26,858
PROJECTS LOOK LIKE. IT'S ALL 

1079
00:35:26,858 --> 00:35:28,326
DEPENDENT ON DEVELOPER AND 

1080
00:35:28,326 --> 00:35:30,027
OPERATOR CAPACITY TO BRING 

1081
00:35:30,027 --> 00:35:30,561
FORWARD APPLICATIONS FOR 

1082
00:35:30,561 --> 00:35:31,829
PRESERVATION PROJECTS, WHICH ARE

1083
00:35:31,829 --> 00:35:35,032
NOT SIMPLE. IN ADDITION TO NEW 

1084
00:35:35,032 --> 00:35:36,300
PRODUCTION, IN ADDITION TO 

1085
00:35:36,300 --> 00:35:38,936
RUNNING THEIR THEIR HOUSING 

1086
00:35:38,936 --> 00:35:40,471
ORGANIZATIONS EVERY DAY, IT'S, 

1087
00:35:40,471 --> 00:35:42,106
IT'S A LOT THAT WE ASK OF 

1088
00:35:42,106 --> 00:35:43,307
ORGANIZATIONS. SO IT DEPENDS ON 

1089
00:35:43,307 --> 00:35:45,510
WHAT COMES IN, WHAT WE ARE 

1090
00:35:45,510 --> 00:35:48,179
PROACTIVELY SEEKING, WHICH IS 

1091
00:35:48,179 --> 00:35:49,747
RELIANT ON ALL OF THE DATA AND 

1092
00:35:49,747 --> 00:35:50,381
ANALYSIS AND THE EXPERTISE THAT 

1093
00:35:50,381 --> 00:35:53,150
OUR STAFF TEAMS HOLD EACH DAY. 

1094
00:35:53,150 --> 00:35:54,352
SO WE'RE GOING TO BE INTERESTED

1095
00:35:54,352 --> 00:35:56,254
TO SEE HOW THIS PLAYS OUT THIS 

1096
00:35:56,254 --> 00:35:58,523
YEAR. AND AGAIN, REALLY FOCUSING

1097
00:35:58,523 --> 00:36:00,157
THE TEAM ON BEING A STRATEGIC AS

1098
00:36:00,157 --> 00:36:02,960
POSSIBLE AND MAKING THESE 

1099
00:36:02,960 --> 00:36:03,261
DECISIONS. 

1100
00:36:03,261 --> 00:36:04,061
-- THANK YOU FOR THAT. AND 

1101
00:36:04,061 --> 00:36:05,730
CHAIR, IF I MAY, I HAVE ONE 

1102
00:36:05,730 --> 00:36:07,832
FINAL QUESTION JUST FOR TODAY. 

1103
00:36:07,832 --> 00:36:09,500
THANK YOU. BUILDING ON ON THAT 

1104
00:36:09,500 --> 00:36:10,668
POINT, YOU KNOW, WE GO THROUGH A

1105
00:36:10,668 --> 00:36:12,603
NUMBER OF COMPETITIVE FUNDING 

1106
00:36:12,603 --> 00:36:15,373
CYCLES, AND I AM ALWAYS THINKING

1107
00:36:15,373 --> 00:36:16,974
ABOUT THE ORGANIZATIONS THAT ARE

1108
00:36:16,974 --> 00:36:17,508
EMBARKING ON THEIR FIRST 

1109
00:36:17,508 --> 00:36:18,743
PROJECT. SO WE'RE TALKING ABOUT

1110
00:36:18,743 --> 00:36:20,711
OUR COMMUNITY LED AFFORDABLE 

1111
00:36:20,711 --> 00:36:22,747
HOUSING PROJECTS, OFTEN BEING 

1112
00:36:22,747 --> 00:36:26,184
PUT FORWARD BY COMMUNITY BASED 

1113
00:36:26,184 --> 00:36:28,319
ORGANIZATIONS THAT SUPPORT A 

1114
00:36:28,319 --> 00:36:28,853
NUMBER OF OF MARGINALIZED 

1115
00:36:28,853 --> 00:36:31,789
COMMUNITIES ACROSS THE CITY. AND

1116
00:36:31,789 --> 00:36:32,957
SO FOR THE OFFICE OF HOUSING, 

1117
00:36:32,957 --> 00:36:35,226
HOW ARE YOU ALL THINKING ABOUT 

1118
00:36:35,226 --> 00:36:37,728
AND PARTICULARLY UNDER YOUR 

1119
00:36:37,728 --> 00:36:39,964
LEADERSHIP, WHAT KIND OF 

1120
00:36:39,964 --> 00:36:41,098
SUPPORTS OR REFORMS FOR HOW 

1121
00:36:41,098 --> 00:36:42,567
OFFICE OF HOUSING WILL BE 

1122
00:36:42,567 --> 00:36:43,167
ASSISTING THOSE ORGANIZATIONS 

1123
00:36:43,167 --> 00:36:46,137
THAT MIGHT BE EMBARKING IN THEIR

1124
00:36:46,137 --> 00:36:46,771
FIRST PROJECTS AND WANTING TO BE

1125
00:36:46,771 --> 00:36:49,707
COMPETITIVE IN FUTURE FUNDING 

1126
00:36:49,707 --> 00:36:55,713
CYCLES? 

1127
00:36:55,713 --> 00:36:56,480
-- THIS IS REALLY IMPORTANT TO 

1128
00:36:56,480 --> 00:36:57,215
ME AND TO MANY AT THE OFFICE OF 

1129
00:36:57,215 --> 00:37:02,053
HOUSING. THIS IS EQUITY IN 

1130
00:37:02,053 --> 00:37:02,620
ACTION THROUGH OUR HOUSING 

1131
00:37:02,620 --> 00:37:05,623
DOLLARS AND EQUITY PLAYS OUT IN 

1132
00:37:05,623 --> 00:37:06,857
THE OFFICE OF HOUSING WORK AND 

1133
00:37:06,857 --> 00:37:10,795
IN OUR COMMUNITY. PARTNERS WORK 

1134
00:37:10,795 --> 00:37:11,629
AT EVERY LEVEL OF THE DAY, EVERY

1135
00:37:11,629 --> 00:37:14,865
LEVEL OF STAFFING. IT PLAYS OUT 

1136
00:37:14,865 --> 00:37:18,936
IN TERMS OF WHERE OUR FUNDING 

1137
00:37:18,936 --> 00:37:20,838
LANDS, WHICH COMMUNITIES HAVE 

1138
00:37:20,838 --> 00:37:22,039
ACCESS TO OUR FUNDING, WHICH 

1139
00:37:22,039 --> 00:37:24,942
COMMUNITIES HAVE ACCESS TO OUR 

1140
00:37:24,942 --> 00:37:27,979
HOUSING, WHAT DO OUR STAFF NEED 

1141
00:37:27,979 --> 00:37:30,715
TO BE SUCCESSFUL, BOTH AT THE 

1142
00:37:30,715 --> 00:37:34,118
OFFICE BUT ALSO THROUGHOUT THE 

1143
00:37:34,118 --> 00:37:36,253
AFFORDABLE HOUSING SECTOR? WE 

1144
00:37:36,253 --> 00:37:39,090
HAVE A NUMBER OF COMMUNITY BASED

1145
00:37:39,090 --> 00:37:42,026
PROJECTS THAT HAVE BEEN HAVE 

1146
00:37:42,026 --> 00:37:43,127
APPLIED FOR FUNDING FROM THE 

1147
00:37:43,127 --> 00:37:44,996
OFFICE OF HOUSING AND ARE 

1148
00:37:44,996 --> 00:37:45,763
SEEKING PARTNERSHIPS, ARE 

1149
00:37:45,763 --> 00:37:47,965
SEEKING ADDITIONAL INVESTMENT. 

1150
00:37:47,965 --> 00:37:49,500
AND THE WAY THAT THIS HAS WORKED

1151
00:37:49,500 --> 00:37:52,470
FOR A LONG TIME, AND IT'S NOT 

1152
00:37:52,470 --> 00:37:56,574
PERFECT, BUT PROJECTS START AT A

1153
00:37:56,574 --> 00:37:59,477
VERY SIMPLE STAGE. YOU JUST HAVE

1154
00:37:59,477 --> 00:38:01,312
TO HAVE AN IDEA, A SMART PERSON 

1155
00:38:01,312 --> 00:38:01,912
AND A PERSON WHO CARES ABOUT 

1156
00:38:01,912 --> 00:38:04,048
THEIR COMMUNITY HAS AN IDEA TO 

1157
00:38:04,048 --> 00:38:06,217
GET FROM THAT IDEA TO BUILDING 

1158
00:38:06,217 --> 00:38:08,753
AND OPERATING. HOUSING IS 

1159
00:38:08,753 --> 00:38:10,421
SOMETIMES DIFFICULT AND A LONG 

1160
00:38:10,421 --> 00:38:13,557
HAUL, AND IT REQUIRES YOU TO 

1161
00:38:13,557 --> 00:38:17,328
TAKE ON ENORMOUS RISK AND BUILD 

1162
00:38:17,328 --> 00:38:17,962
UP AN ORGANIZATIONAL CAPACITY. 

1163
00:38:17,962 --> 00:38:20,498
AND DO A LOT OF WORK TO GET 

1164
00:38:20,498 --> 00:38:22,967
THERE. AND WE'VE SUPPORTED AND 

1165
00:38:22,967 --> 00:38:24,835
SEEN AMAZING WORK FROM A LOT OF 

1166
00:38:24,835 --> 00:38:26,103
COMMUNITY BASED ORGANIZATIONS IN

1167
00:38:26,103 --> 00:38:27,271
SEATTLE WHO'VE ACHIEVED A 

1168
00:38:27,271 --> 00:38:29,974
NUMBER OF THINGS AND HAVE BUILT 

1169
00:38:29,974 --> 00:38:30,908
INCREDIBLE HOUSING PROJECTS 

1170
00:38:30,908 --> 00:38:33,077
ACROSS THE CITY AND GREAT 

1171
00:38:33,077 --> 00:38:34,645
ORGANIZATIONS. AND WE NEED TO 

1172
00:38:34,645 --> 00:38:36,914
CONTINUE TO DO THAT WITH GROUPS.

1173
00:38:36,914 --> 00:38:40,685
IT IS A CHALLENGING TIME. IT'S 

1174
00:38:40,685 --> 00:38:41,318
JUST SIMILAR TO THE CHALLENGES 

1175
00:38:41,318 --> 00:38:43,988
THAT WE FACE. WE ARE SEEING MORE

1176
00:38:43,988 --> 00:38:46,891
AND MORE INVESTOR RISK 

1177
00:38:46,891 --> 00:38:48,326
INTOLERANCE IN SEATTLE. WE'RE 

1178
00:38:48,326 --> 00:38:50,461
STARTING TO SEE HIGHER 

1179
00:38:50,461 --> 00:38:51,028
REQUIREMENTS PLACED ON OUR 

1180
00:38:51,028 --> 00:38:52,430
PROJECTS, PARTICULARLY IN 

1181
00:38:52,430 --> 00:38:54,498
CERTAIN NEIGHBORHOODS AND FOR 

1182
00:38:54,498 --> 00:38:54,932
PARTICULAR TYPES OF 

1183
00:38:54,932 --> 00:38:57,435
ORGANIZATIONS. AND THESE ARE 

1184
00:38:57,435 --> 00:38:58,769
MAJOR INVESTORS AND PROJECTS 

1185
00:38:58,769 --> 00:39:01,439
THAT WE NEED TO MAKE PROJECTS A 

1186
00:39:01,439 --> 00:39:03,607
REALITY AND THAT WE DON'T 

1187
00:39:03,607 --> 00:39:06,544
CONTROL. BUT WHAT WE CAN DO IS 

1188
00:39:06,544 --> 00:39:08,079
WORK WITH THESE GROUPS AS MUCH 

1189
00:39:08,079 --> 00:39:10,147
AS WE POSSIBLY CAN TO SUPPORT 

1190
00:39:10,147 --> 00:39:12,616
KEY PARTNERSHIPS AND SUPPORT 

1191
00:39:12,616 --> 00:39:13,851
FAIR PARTNERSHIPS, AND TO BRING 

1192
00:39:13,851 --> 00:39:16,620
THE OFFICE OF HOUSING RESOURCES 

1193
00:39:16,620 --> 00:39:17,621
TO SUPPORT THEM AS WELL. WHEN 

1194
00:39:17,621 --> 00:39:19,824
WE'RE NEEDED TO MAKE SURE THAT 

1195
00:39:19,824 --> 00:39:20,991
THESE PROJECTS COME THROUGH. 

1196
00:39:20,991 --> 00:39:22,259
SOMETIMES THAT MEANS COMING IN 

1197
00:39:22,259 --> 00:39:23,761
AT A HIGHER PER UNIT COST, 

1198
00:39:23,761 --> 00:39:26,430
BECAUSE WE WANT TO SUPPORT THIS 

1199
00:39:26,430 --> 00:39:28,299
PROJECT AND BECAUSE IT MATTERS, 

1200
00:39:28,299 --> 00:39:29,700
AND SOMETIMES IT MEANS OTHER 

1201
00:39:29,700 --> 00:39:32,002
TYPES OF SUPPORT, TECHNICAL 

1202
00:39:32,002 --> 00:39:32,636
ASSISTANCE, WORK WITH INVESTORS,

1203
00:39:32,636 --> 00:39:34,572
WORK WITH OTHER PUBLIC FUNDERS. 

1204
00:39:34,572 --> 00:39:36,540
SO WE'RE HERE FOR THAT. WE KNOW

1205
00:39:36,540 --> 00:39:37,975
THAT THERE ARE A COUPLE OF 

1206
00:39:37,975 --> 00:39:40,544
PROJECTS IN THE PIPELINE RIGHT 

1207
00:39:40,544 --> 00:39:42,380
NOW LINING UP FOR INVESTMENT. 

1208
00:39:42,380 --> 00:39:44,548
AND OUR TEAM IS HAVING ACTIVE 

1209
00:39:44,548 --> 00:39:45,082
CONVERSATIONS ABOUT THOSE 

1210
00:39:45,082 --> 00:39:47,451
PROJECTS. SO WE'LL BE EXCITED TO

1211
00:39:47,451 --> 00:39:48,085
SEE WHAT RECEIVES FUNDING THIS 

1212
00:39:48,085 --> 00:39:49,353
YEAR. 

1213
00:39:49,353 --> 00:39:50,621
-- THANK YOU SO MUCH FOR THAT 

1214
00:39:50,621 --> 00:39:52,890
RESPONSE, AND THANK YOU FOR 

1215
00:39:52,890 --> 00:39:54,492
ANSWERING MY QUESTIONS AND FOR 

1216
00:39:54,492 --> 00:39:55,059
BEING BEFORE THE COMMITTEE 

1217
00:39:55,059 --> 00:39:55,659
TODAY. AND THANK YOU TO THE 

1218
00:39:55,659 --> 00:39:57,228
MAYOR'S OFFICE FOR BRINGING 

1219
00:39:57,228 --> 00:39:58,763
FORWARD THIS APPOINTMENT. THANK 

1220
00:39:58,763 --> 00:40:00,965
YOU. THANK YOU, CHAIR. 

1221
00:40:00,965 --> 00:40:01,732
-- THANK YOU. EXCUSE ME. THANK 

1222
00:40:01,732 --> 00:40:04,935
YOU SO MUCH. COUNCILMEMBER RINCK

1223
00:40:04,935 --> 00:40:06,170
AND I WILL TURN TO MY QUESTIONS 

1224
00:40:06,170 --> 00:40:06,771
AND I'LL BUILD ACTUALLY A 

1225
00:40:06,771 --> 00:40:09,340
LITTLE BIT OFF OF THAT 

1226
00:40:09,340 --> 00:40:11,008
CONVERSATION THAT YOU STARTED. 

1227
00:40:11,008 --> 00:40:11,876
COUNCILMEMBER RINCK. YOU KNOW, 

1228
00:40:11,876 --> 00:40:13,811
ONE OF THE THINGS THAT I HEAR 

1229
00:40:13,811 --> 00:40:14,912
SOMETIMES FROM OUR PROVIDERS, 

1230
00:40:14,912 --> 00:40:16,781
AND I KNOW THAT YOU HAVE THIS 

1231
00:40:16,781 --> 00:40:17,882
EXPERIENCE AND WE SEE THIS AS 

1232
00:40:17,882 --> 00:40:19,383
FOLKS WHO ARE COMING THROUGH OUR

1233
00:40:19,383 --> 00:40:22,119
FUNDING ROUNDS. AND BECAUSE OF 

1234
00:40:22,119 --> 00:40:23,454
THE GAPS IN FINANCING, THEY ARE 

1235
00:40:23,454 --> 00:40:24,588
SOMETIMES COMING THROUGH THE 

1236
00:40:24,588 --> 00:40:26,857
OFFICE OF HOUSING FUNDING 

1237
00:40:26,857 --> 00:40:30,494
ROUNDS. MAYBE IT'S TWO, THREE, 

1238
00:40:30,494 --> 00:40:31,595
SEVERAL TIMES IN ORDER TO 

1239
00:40:31,595 --> 00:40:33,964
COMPLETE THEIR FUNDING STACK FOR

1240
00:40:33,964 --> 00:40:35,466
THEIR PROJECTS. AND WE KNOW THAT

1241
00:40:35,466 --> 00:40:36,700
THE STATE ALSO HAS A ROLE. AND 

1242
00:40:36,700 --> 00:40:38,702
OBVIOUSLY, WE HAVE GREAT 

1243
00:40:38,702 --> 00:40:41,205
PARTNERSHIP AND THE STATE 

1244
00:40:41,205 --> 00:40:41,639
FUNDING COMING INTO 

1245
00:40:41,639 --> 00:40:42,406
ORGANIZATIONS IS ALSO PART OF 

1246
00:40:42,406 --> 00:40:43,974
HOW MANY OF OUR PARTNERS ARE 

1247
00:40:43,974 --> 00:40:47,344
GETTING FUNDED. SO WITH THAT AS 

1248
00:40:47,344 --> 00:40:49,513
PREAMBLE, I'M CURIOUS TO HEAR 

1249
00:40:49,513 --> 00:40:52,283
IF THERE ARE STRATEGIES OR 

1250
00:40:52,283 --> 00:40:52,983
INNOVATIONS THAT YOU'RE THINKING

1251
00:40:52,983 --> 00:40:54,919
ABOUT AS YOU STEP INTO THIS ROLE

1252
00:40:54,919 --> 00:40:57,755
FOR HOW WE APPROACH THAT PROCESS

1253
00:40:57,755 --> 00:40:59,590
SO THAT WE CAN PERHAPS MAKE IT 

1254
00:40:59,590 --> 00:41:00,624
MORE EFFICIENT FOR PARTNERS, OR 

1255
00:41:00,624 --> 00:41:02,226
CUT DOWN ON THE AMOUNT OF TIME 

1256
00:41:02,226 --> 00:41:04,028
THAT PEOPLE ARE WAITING TO 

1257
00:41:04,028 --> 00:41:07,364
COMPLETE THOSE STACKS. 

1258
00:41:07,364 --> 00:41:08,933
-- YES. AND I'VE, I'VE HAD SOME

1259
00:41:08,933 --> 00:41:11,101
REALLY INTERESTING CONVERSATIONS

1260
00:41:11,101 --> 00:41:12,803
IN THE LAST COUPLE OF WEEKS WITH

1261
00:41:12,803 --> 00:41:14,371
SOME KEY LEADERS IN THE 

1262
00:41:14,371 --> 00:41:15,206
COMMUNITY, SMART FOLKS WHO'VE 

1263
00:41:15,206 --> 00:41:17,875
BEEN DOING THIS A LONG TIME. 

1264
00:41:17,875 --> 00:41:19,243
GOOD IDEAS, YOUR OFFICE AS WELL 

1265
00:41:19,243 --> 00:41:21,879
HAVE BROUGHT FORWARD SOME REALLY

1266
00:41:21,879 --> 00:41:24,181
INTERESTING STEPS. I THINK THAT 

1267
00:41:24,181 --> 00:41:24,748
ESSENTIALLY WHAT FOLKS HAVE 

1268
00:41:24,748 --> 00:41:26,417
ASKED FOR, AND WE'VE BEEN 

1269
00:41:26,417 --> 00:41:27,618
REQUESTED TO DO THIS FOR AT 

1270
00:41:27,618 --> 00:41:28,352
LEAST A YEAR, MAYBE TWO YEARS, 

1271
00:41:28,352 --> 00:41:32,857
IS TO GET TO A MORE ADVANCED 

1272
00:41:32,857 --> 00:41:34,058
LEVEL OF PLANNING FOR PIPELINE 

1273
00:41:34,058 --> 00:41:37,194
SO THAT THERE'S MORE CERTAINTY 

1274
00:41:37,194 --> 00:41:38,662
FOR DEVELOPERS OUT THERE, AND 

1275
00:41:38,662 --> 00:41:41,065
THAT THEY ARE PROPERLY 

1276
00:41:41,065 --> 00:41:41,565
ALLOCATING RESOURCES TO 

1277
00:41:41,565 --> 00:41:45,769
REDEVELOPMENT AND PERMITTING AND

1278
00:41:45,769 --> 00:41:46,337
DESIGN IN TIME FOR SEATTLE 

1279
00:41:46,337 --> 00:41:47,304
RESOURCES TO COME THROUGH FOR 

1280
00:41:47,304 --> 00:41:48,105
THEIR PROJECT AND OTHER 

1281
00:41:48,105 --> 00:41:49,874
RESOURCES TO COME THROUGH. IT'S

1282
00:41:49,874 --> 00:41:53,043
A VERY REASONABLE ASK IN ORDER 

1283
00:41:53,043 --> 00:41:56,447
TO ACHIEVE IT, I BELIEVE WE NEED

1284
00:41:56,447 --> 00:42:01,619
TO HAVE STRONG PREDICTABILITY OF

1285
00:42:01,619 --> 00:42:03,587
OUR FUNDING SOURCES AND. STRONG 

1286
00:42:03,587 --> 00:42:06,423
MANAGEMENT OF OUR SHORT TERM 

1287
00:42:06,423 --> 00:42:08,025
LOAN PROGRAM. SO WE ARE 

1288
00:42:08,025 --> 00:42:09,260
INTERESTED IN GETTING THERE. THE

1289
00:42:09,260 --> 00:42:11,328
TEAM IS WORKING REALLY 

1290
00:42:11,328 --> 00:42:14,231
STRATEGICALLY RIGHT NOW ON 

1291
00:42:14,231 --> 00:42:17,268
ANALYZING OUR SHORT TERM LOAN 

1292
00:42:17,268 --> 00:42:18,869
OBLIGATIONS AND LOOKING AHEAD AT

1293
00:42:18,869 --> 00:42:20,638
WHAT WE CAN POSSIBLY DO WITHIN 

1294
00:42:20,638 --> 00:42:22,072
OUR CURRENT MEANS, WITHIN OUR 

1295
00:42:22,072 --> 00:42:24,308
CURRENT BUDGET, TO BE CREATIVE 

1296
00:42:24,308 --> 00:42:26,310
AND BE ABLE TO OFFER MORE 

1297
00:42:26,310 --> 00:42:29,947
CERTAINTY TO DEVELOPERS AS THEY 

1298
00:42:29,947 --> 00:42:31,448
PLAN INTO THE FUTURE. WE 

1299
00:42:31,448 --> 00:42:33,417
DEFINITELY WANT. IT'S ALWAYS A 

1300
00:42:33,417 --> 00:42:35,319
BALANCE. YOU WANT TO MAKE SURE 

1301
00:42:35,319 --> 00:42:36,687
THE PIPELINE IS STILL ROBUST AND

1302
00:42:36,687 --> 00:42:37,321
THAT PROJECTS ARE MOVING FORWARD

1303
00:42:37,321 --> 00:42:38,722
AND READY TO GO. YOU WANT TO 

1304
00:42:38,722 --> 00:42:40,858
HAVE HIGH COMPETITION COMING 

1305
00:42:40,858 --> 00:42:42,693
THROUGH, AND IT MAKES A LOT OF 

1306
00:42:42,693 --> 00:42:43,527
SENSE TO ALSO PROVIDE MORE 

1307
00:42:43,527 --> 00:42:46,430
CERTAINTY TO THESE DEVELOPERS SO

1308
00:42:46,430 --> 00:42:47,331
THAT THEY UNDERSTAND WHERE SORT 

1309
00:42:47,331 --> 00:42:48,365
OF WHERE THEY ARE IN THE LINE 

1310
00:42:48,365 --> 00:42:51,635
PROVIDING TEARING OR SOME SORT 

1311
00:42:51,635 --> 00:42:52,636
OF BETTER UNDERSTANDING OF HOW 

1312
00:42:52,636 --> 00:42:55,372
MUCH TIME THEY NEED TO WAIT 

1313
00:42:55,372 --> 00:42:55,973
BEFORE THERE WILL BE FUNDING 

1314
00:42:55,973 --> 00:42:57,141
AVAILABLE. SO THE TEAM'S LOOKING

1315
00:42:57,141 --> 00:43:00,377
AT A FEW CONCEPTS. THERE ARE A 

1316
00:43:00,377 --> 00:43:02,613
FEW IDEAS IN PLAY, AND WE'LL BE

1317
00:43:02,613 --> 00:43:03,814
INTERESTED TO SEE HOW THAT PLAYS

1318
00:43:03,814 --> 00:43:06,183
OUT. I THINK I JUST WAS TALKING 

1319
00:43:06,183 --> 00:43:08,152
WITH SOME FOLKS ABOUT THIS TODAY

1320
00:43:08,152 --> 00:43:09,787
AND I SAID, LET'S, LET'S 

1321
00:43:09,787 --> 00:43:11,722
RECONVENE LATER IN THE YEAR WHEN

1322
00:43:11,722 --> 00:43:12,456
WE KIND OF UNDERSTAND WHAT 2027 

1323
00:43:12,456 --> 00:43:13,791
LOOKS LIKE, BUT WE'RE INTERESTED

1324
00:43:13,791 --> 00:43:16,527
IN PURSUING SOME OF THESE IDEAS.

1325
00:43:16,527 --> 00:43:17,695
-- THANK YOU FOR THAT, AND I 

1326
00:43:17,695 --> 00:43:18,529
APPRECIATE YOUR OPENNESS AND NOT

1327
00:43:18,529 --> 00:43:20,297
JUST OPENNESS, BUT THE 

1328
00:43:20,297 --> 00:43:23,701
COMMITMENT TO CONTINUING TO MAKE

1329
00:43:23,701 --> 00:43:25,035
OUR PROCESSES WORK BETTER TO 

1330
00:43:25,035 --> 00:43:25,636
PARTNERS AND BEING RESPONSIVE 

1331
00:43:25,636 --> 00:43:27,204
THERE, EVEN WITHIN THE THE 

1332
00:43:27,204 --> 00:43:28,172
CONFINES THAT WE ALL ARE 

1333
00:43:28,172 --> 00:43:29,073
OPERATING IN. SO THANK YOU FOR 

1334
00:43:29,073 --> 00:43:32,176
THAT. AND I TURN TO SORT OF A 

1335
00:43:32,176 --> 00:43:33,577
RELATED QUESTION. I KNOW 

1336
00:43:33,577 --> 00:43:35,379
SOMETHING THAT I CARE ABOUT A 

1337
00:43:35,379 --> 00:43:35,980
LOT AND THAT I KNOW YOU CARE 

1338
00:43:35,980 --> 00:43:36,747
ABOUT, AND IT ALWAYS STANDS OUT 

1339
00:43:36,747 --> 00:43:37,881
WHENEVER I'M TALKING WITH YOU, 

1340
00:43:37,881 --> 00:43:40,417
IS THE FOCUS ON THE PEOPLE WHO 

1341
00:43:40,417 --> 00:43:41,752
WE ARE SERVING. AND I THINK 

1342
00:43:41,752 --> 00:43:43,487
THAT'S SOMETHING THAT SOUNDS 

1343
00:43:43,487 --> 00:43:45,789
REALLY OBVIOUS, RIGHT? BUT CAN 

1344
00:43:45,789 --> 00:43:47,091
SOMETIMES GET LOST WHEN WE'RE 

1345
00:43:47,091 --> 00:43:49,626
TALKING ABOUT UNITS AND 

1346
00:43:49,626 --> 00:43:50,427
PRODUCTION GOALS IN THOSE 

1347
00:43:50,427 --> 00:43:52,029
PIECES. AND THAT IS SOMETHING I 

1348
00:43:52,029 --> 00:43:53,597
JUST REALLY APPRECIATE ABOUT 

1349
00:43:53,597 --> 00:43:56,233
YOU. AND ONE OF THE THINGS THAT 

1350
00:43:56,233 --> 00:43:57,034
I SEE AS A CHALLENGE IN OUR 

1351
00:43:57,034 --> 00:43:58,335
CITY, SORT OF ACROSS THE BOARD, 

1352
00:43:58,335 --> 00:44:01,639
IS THAT ACCESSIBILITY OF 

1353
00:44:01,639 --> 00:44:04,508
AFFORDABLE HOUSING AND WHERE 

1354
00:44:04,508 --> 00:44:06,477
WE'RE ABLE TO LOCATE AND BUILD 

1355
00:44:06,477 --> 00:44:07,911
AFFORDABLE HOUSING. AND I'M 

1356
00:44:07,911 --> 00:44:09,580
CURIOUS IF THERE ARE THOUGHTS 

1357
00:44:09,580 --> 00:44:11,749
THAT YOU HAVE ON THE ROLE FOR 

1358
00:44:11,749 --> 00:44:13,917
OFFICE OF HOUSING WHEN IT COMES 

1359
00:44:13,917 --> 00:44:16,020
TO SUPPORTING AND CONTINUING TO 

1360
00:44:16,020 --> 00:44:18,422
GROW OUR INVESTMENTS IN 

1361
00:44:18,422 --> 00:44:20,324
AFFORDABLE HOUSING IN DIVERSE 

1362
00:44:20,324 --> 00:44:22,126
GEOGRAPHIES AROUND THE CITY, 

1363
00:44:22,126 --> 00:44:24,194
BECAUSE I THINK THAT'S REALLY 

1364
00:44:24,194 --> 00:44:24,828
KEY TO HAVING THE CROSS-CLASS, 

1365
00:44:24,828 --> 00:44:29,900
MULTIRACIAL CITY THAT WE WANT TO

1366
00:44:29,900 --> 00:44:30,567
BE. 

1367
00:44:30,567 --> 00:44:31,235
-- CHAIR FOSTER HAVE YOU BEEN A 

1368
00:44:31,235 --> 00:44:33,570
SPY IN MY OFFICE TODAY? THERE 

1369
00:44:33,570 --> 00:44:34,304
HAVE BEEN SO MANY CONVERSATIONS 

1370
00:44:34,304 --> 00:44:36,707
THAT ARE VERY LINED UP WITH YOUR

1371
00:44:36,707 --> 00:44:38,008
QUESTIONS. WE WERE JUST TALKING 

1372
00:44:38,008 --> 00:44:38,642
ABOUT GEOGRAPHY EARLIER TODAY, 

1373
00:44:38,642 --> 00:44:41,979
TOO. THIS IS VERY MUCH ON OUR 

1374
00:44:41,979 --> 00:44:44,148
MIND. WE'VE BEEN WE HAVE 

1375
00:44:44,148 --> 00:44:44,748
CONSULTANT WORK UNDERWAY WITH 

1376
00:44:44,748 --> 00:44:46,116
THE UW HOUSING FUTURES CENTER, 

1377
00:44:46,116 --> 00:44:47,518
WHERE WE'RE EXAMINING. WE'VE 

1378
00:44:47,518 --> 00:44:49,820
HAD A LONG STANDING SITING 

1379
00:44:49,820 --> 00:44:52,956
POLICY THAT HELPS TO DETERMINE 

1380
00:44:52,956 --> 00:44:53,824
WHERE AFFORDABLE HOUSING LANDS 

1381
00:44:53,824 --> 00:44:56,527
THROUGHOUT THE CITY. WE'RE IN 

1382
00:44:56,527 --> 00:44:59,963
THE MIDST OF REALLY REEXAMINING 

1383
00:44:59,963 --> 00:45:01,832
THIS AND WHAT OUR PRIORITIES ARE

1384
00:45:01,832 --> 00:45:05,436
IN TERMS OF GEOGRAPHY AND 

1385
00:45:05,436 --> 00:45:06,103
PLACEMENT OF INVESTMENTS. WE'VE

1386
00:45:06,103 --> 00:45:08,038
STARTED TO MAKE SOME CHANGE IN 

1387
00:45:08,038 --> 00:45:10,708
THIS REGARD WITH MORE PUBLIC 

1388
00:45:10,708 --> 00:45:13,677
SITE UTILIZATION, AND WE 

1389
00:45:13,677 --> 00:45:15,979
ACTUALLY PURCHASED A SITE IN 

1390
00:45:15,979 --> 00:45:18,615
SOUTH PARK TO ACTIVELY SITE SOME

1391
00:45:18,615 --> 00:45:22,519
AFFORDABLE HOUSING IN A PART OF 

1392
00:45:22,519 --> 00:45:23,153
THE CITY WHERE WE DID NOT HAVE 

1393
00:45:23,153 --> 00:45:26,023
ANY INVESTMENTS. WE HAVE FORT 

1394
00:45:26,023 --> 00:45:26,657
LAWTON ON THE HORIZON, WHICH IS 

1395
00:45:26,657 --> 00:45:27,291
ANOTHER PLACE WHERE WE HAVE NOT 

1396
00:45:27,291 --> 00:45:28,826
HAD ANY INVESTMENT. OTHER AREAS 

1397
00:45:28,826 --> 00:45:29,960
OF OPPORTUNITY, THOUGH, ACROSS 

1398
00:45:29,960 --> 00:45:30,928
THE CITY. THE TEAM IS REALLY 

1399
00:45:30,928 --> 00:45:34,098
INTERESTED IN LOOKING AT HOW WE 

1400
00:45:34,098 --> 00:45:37,568
BACK A CHANGE LIKE THAT WITH 

1401
00:45:37,568 --> 00:45:40,471
DATA AND EVIDENCE, AND THEN MOVE

1402
00:45:40,471 --> 00:45:42,005
TOWARD IMPLEMENTING THAT AT THE 

1403
00:45:42,005 --> 00:45:43,974
RIGHT PACE. THIS GOES BACK TO 

1404
00:45:43,974 --> 00:45:46,243
SOME OF THAT PIPELINE PLANNING 

1405
00:45:46,243 --> 00:45:47,811
CONVERSATION. MANY OF OUR 

1406
00:45:47,811 --> 00:45:49,980
PROVIDERS HAVE PIPELINES AND 

1407
00:45:49,980 --> 00:45:52,116
SITES LINED UP THAT THEY'VE 

1408
00:45:52,116 --> 00:45:53,884
INVESTED RESOURCES IN. AND AS WE

1409
00:45:53,884 --> 00:45:55,853
STARTED TO TALK ABOUT THIS 

1410
00:45:55,853 --> 00:45:57,888
CHANGE OF GEOGRAPHY AND 

1411
00:45:57,888 --> 00:46:00,858
PRIORITIZATION, THERE ARE 

1412
00:46:00,858 --> 00:46:02,259
CONCERNS BECAUSE A LOT OF THE 

1413
00:46:02,259 --> 00:46:04,061
TIMES SITES ARE PURCHASED IN 

1414
00:46:04,061 --> 00:46:06,930
AREAS WHERE LAND IS LEAST 

1415
00:46:06,930 --> 00:46:08,899
COSTLY. THAT DOESN'T ALWAYS 

1416
00:46:08,899 --> 00:46:10,100
OVERLAY WITH AREAS OF 

1417
00:46:10,100 --> 00:46:13,604
OPPORTUNITY. SO WE HAVE TO 

1418
00:46:13,604 --> 00:46:15,305
BALANCE AND MAKE SURE THAT WE'RE

1419
00:46:15,305 --> 00:46:15,839
WORKING CLOSELY WITH OUR 

1420
00:46:15,839 --> 00:46:16,640
INVESTORS AROUND THE SITES THAT 

1421
00:46:16,640 --> 00:46:20,477
THEY HAVE AND THE SITES AND 

1422
00:46:20,477 --> 00:46:21,111
LOCATIONS THAT WE WANT TO SEE 

1423
00:46:21,111 --> 00:46:22,880
MORE AFFORDABLE HOMES. SO MORE 

1424
00:46:22,880 --> 00:46:24,014
TO COME THERE. BUT THERE'S A LOT

1425
00:46:24,014 --> 00:46:27,651
OF WORK UNDERWAY, AND WE HAVE 

1426
00:46:27,651 --> 00:46:28,719
SOME PRELIMINARY INFORMATION WE 

1427
00:46:28,719 --> 00:46:31,421
CAN SHARE WITH, WITH YOU ALL 

1428
00:46:31,421 --> 00:46:33,056
ABOUT WHAT UW AND OUR TEAM HAS 

1429
00:46:33,056 --> 00:46:36,093
FOUND. AND THERE'S MORE WORK 

1430
00:46:36,093 --> 00:46:36,326
COMING. 

1431
00:46:36,326 --> 00:46:38,028
-- THANK YOU FOR THAT. AND I 

1432
00:46:38,028 --> 00:46:39,596
LOOK FORWARD TO GETTING THAT 

1433
00:46:39,596 --> 00:46:41,265
HEARING, THAT PRELIMINARY 

1434
00:46:41,265 --> 00:46:43,066
INFORMATION. AND I'M EXCITED TO

1435
00:46:43,066 --> 00:46:44,568
HEAR THE ALIGNMENT. EVEN JUST 

1436
00:46:44,568 --> 00:46:47,004
DAY OF OF THESE CONVERSATIONS. 

1437
00:46:47,004 --> 00:46:49,206
AND THEN I WANT TO TURN TO 

1438
00:46:49,206 --> 00:46:51,041
ANOTHER PART OF THE ROLE LEADING

1439
00:46:51,041 --> 00:46:51,942
THE OFFICE OF HOUSING, WHICH, 

1440
00:46:51,942 --> 00:46:53,877
YOU KNOW, I THINK ABOUT OUR 

1441
00:46:53,877 --> 00:46:55,379
AFFORDABLE HOUSING PROVIDERS AND

1442
00:46:55,379 --> 00:46:56,880
WE OFTEN GO STRAIGHT TO THE 

1443
00:46:56,880 --> 00:46:59,316
OFFICE OF HOUSING, BUT OBVIOUSLY

1444
00:46:59,316 --> 00:47:00,684
OUR AFFORDABLE HOUSING COMMUNITY

1445
00:47:00,684 --> 00:47:01,318
INTERSECTS WITH MANY DIFFERENT 

1446
00:47:01,318 --> 00:47:02,452
PARTS OF CITY GOVERNMENT, 

1447
00:47:02,452 --> 00:47:07,257
WHETHER THAT IS SDOT, WHETHER 

1448
00:47:07,257 --> 00:47:09,126
THAT IS THE PUBLIC UTILITIES, 

1449
00:47:09,126 --> 00:47:10,627
CITY LIGHT. THERE'S JUST SO 

1450
00:47:10,627 --> 00:47:12,296
MANY ROLES THAT OUR LOCAL 

1451
00:47:12,296 --> 00:47:14,398
GOVERNMENT PLAYS WHEN IT COMES 

1452
00:47:14,398 --> 00:47:15,732
TO SUPPORTING THE PRODUCTION OF 

1453
00:47:15,732 --> 00:47:16,300
HOUSING AND SUPPORTING THE 

1454
00:47:16,300 --> 00:47:18,068
PRODUCTION OF AFFORDABLE 

1455
00:47:18,068 --> 00:47:18,702
HOUSING. SO I WONDER IF YOU CAN 

1456
00:47:18,702 --> 00:47:19,670
SPEAK TO THE WAY THAT YOU SEE 

1457
00:47:19,670 --> 00:47:22,039
YOUR ROLE AS OFFICE OF HOUSING 

1458
00:47:22,039 --> 00:47:24,241
DIRECTOR TO COLLABORATE WITH 

1459
00:47:24,241 --> 00:47:25,375
OTHER CITY DEPARTMENTS IN ORDER 

1460
00:47:25,375 --> 00:47:26,210
TO HELP MAKE SURE THAT WE ARE 

1461
00:47:26,210 --> 00:47:32,015
BRINGING AFFORDABLE HOUSING 

1462
00:47:32,015 --> 00:47:32,249
ONLINE. 

1463
00:47:32,249 --> 00:47:35,786
-- THIS IS VERY IMPORTANT AND IT

1464
00:47:35,786 --> 00:47:37,821
IS VERY EASY TO POINT OUT ALL OF

1465
00:47:37,821 --> 00:47:40,591
THE AREAS OF MISMATCH AND 

1466
00:47:40,591 --> 00:47:42,326
MISALIGNMENT. AND IT'S NOT 

1467
00:47:42,326 --> 00:47:43,860
SIMPLE TO IDENTIFY SOLUTIONS. 

1468
00:47:43,860 --> 00:47:46,363
HOWEVER, I HAVE BUILT STRONG 

1469
00:47:46,363 --> 00:47:48,365
RELATIONSHIPS WITH MANY 

1470
00:47:48,365 --> 00:47:50,534
DEPARTMENTS IN MY TIME AT THE 

1471
00:47:50,534 --> 00:47:52,636
OFFICE OF HOUSING. I WORK 

1472
00:47:52,636 --> 00:47:55,339
CLOSELY WITH A NUMBER OF THE 

1473
00:47:55,339 --> 00:47:56,840
DIRECTORS AND SENIOR STAFF AT 

1474
00:47:56,840 --> 00:47:58,408
SOME OF THESE KEY DEPARTMENTS, 

1475
00:47:58,408 --> 00:48:00,878
AND THERE'S A LOT OF 

1476
00:48:00,878 --> 00:48:03,413
WILLINGNESS AND INTEREST IN MORE

1477
00:48:03,413 --> 00:48:03,981
COLLABORATION AND THINKING 

1478
00:48:03,981 --> 00:48:07,184
THROUGH HOW WE WORK BETTER TO 

1479
00:48:07,184 --> 00:48:07,818
SUPPORT OUR PROJECTS. THERE'S 

1480
00:48:07,818 --> 00:48:09,486
WORK UNDERWAY THAT WE ARE 

1481
00:48:09,486 --> 00:48:10,887
COLLABORATING ON WITH THE 

1482
00:48:10,887 --> 00:48:12,522
MAYOR'S OFFICE AND OTHER CITY 

1483
00:48:12,522 --> 00:48:14,791
DEPARTMENTS TO TRY AND IMPROVE 

1484
00:48:14,791 --> 00:48:16,193
THESE PROCESSES, BUT WE DO SEE 

1485
00:48:16,193 --> 00:48:19,529
THIS PLAY OUT MORE REGULARLY 

1486
00:48:19,529 --> 00:48:23,033
THAN IT THAN IT SHOULD. AND I'M

1487
00:48:23,033 --> 00:48:23,834
JUST THINKING OF SOME OF THE 

1488
00:48:23,834 --> 00:48:24,935
FOLKS WHO HAVE SPOKEN HERE TODAY

1489
00:48:24,935 --> 00:48:25,936
AND SOME OF THE STORIES THEY 

1490
00:48:25,936 --> 00:48:29,973
BROUGHT FORWARD TO US ON THEIR 

1491
00:48:29,973 --> 00:48:30,607
DEVELOPMENTS AND HOW DIFFICULT 

1492
00:48:30,607 --> 00:48:33,610
IT CAN BE TO MOVE A PROJECT 

1493
00:48:33,610 --> 00:48:34,144
THROUGH CERTAIN TYPES OF 

1494
00:48:34,144 --> 00:48:35,479
PERMITTING AND REVIEW IN THE 

1495
00:48:35,479 --> 00:48:38,615
CITY, AND HOW COSTLY IT CAN BE. 

1496
00:48:38,615 --> 00:48:40,284
AND OFTENTIMES THE COST WILL 

1497
00:48:40,284 --> 00:48:42,386
FALL TO THE OFFICE OF HOUSING TO

1498
00:48:42,386 --> 00:48:44,321
-- COVER, SO IT'S IN OUR BEST 

1499
00:48:44,321 --> 00:48:45,622
INTEREST IN ORDER TO TRY TO 

1500
00:48:45,622 --> 00:48:47,524
ACHIEVE COST SAVINGS AND STRETCH

1501
00:48:47,524 --> 00:48:48,659
OUR PRECIOUS HOUSING DOLLARS AS 

1502
00:48:48,659 --> 00:48:50,560
FAR AS POSSIBLE TO IMPROVE THIS 

1503
00:48:50,560 --> 00:48:51,695
COORDINATION. SO WE'LL 

1504
00:48:51,695 --> 00:48:52,596
DEFINITELY BE WORKING ON THIS. 

1505
00:48:52,596 --> 00:48:53,297
IT'S A HIGH PRIORITY FOR THE 

1506
00:48:53,297 --> 00:48:55,032
TEAM. 

1507
00:48:55,032 --> 00:48:55,866
-- THANK YOU FOR THAT. I REALLY 

1508
00:48:55,866 --> 00:48:57,000
APPRECIATE THAT. AND I SEE THE 

1509
00:48:57,000 --> 00:48:58,302
SAME CHALLENGE THAT YOU SEE 

1510
00:48:58,302 --> 00:48:59,870
THERE IN TERMS OF THE COST 

1511
00:48:59,870 --> 00:49:01,738
IMPACT TO AFFORDABLE HOUSING 

1512
00:49:01,738 --> 00:49:02,372
PROVIDERS AT A TIME WHEN WE WANT

1513
00:49:02,372 --> 00:49:03,173
TO MAKE SURE THAT WE'RE MAKING 

1514
00:49:03,173 --> 00:49:04,174
IT EASIER AND THAT WE'RE BEING 

1515
00:49:04,174 --> 00:49:05,709
SUPPORTIVE OF PEOPLE TO BRING 

1516
00:49:05,709 --> 00:49:07,577
THAT HOUSING ONLINE. SO I'M 

1517
00:49:07,577 --> 00:49:08,478
GOING TO ASK YOU A FINAL 

1518
00:49:08,478 --> 00:49:09,279
QUESTION, AND THEN I'LL GO BACK

1519
00:49:09,279 --> 00:49:12,449
TO COLLEAGUES TO SEE IF THERE'S

1520
00:49:12,449 --> 00:49:13,083
ANY FINAL COMMENTS OR QUESTIONS 

1521
00:49:13,083 --> 00:49:15,419
FROM FOLKS. BUT JUST GOING NOW, 

1522
00:49:15,419 --> 00:49:17,087
JUST TO THE PERSONAL SIDE, WHAT 

1523
00:49:17,087 --> 00:49:20,257
DOES IT MEAN TO YOU TO STEP INTO

1524
00:49:20,257 --> 00:49:21,958
THE ROLE OF LEADERSHIP AND OH, 

1525
00:49:21,958 --> 00:49:26,396
DIRECTOR, AT THIS MOMENT? 

1526
00:49:26,396 --> 00:49:27,631
-- I JUST KEEP COMING BACK TO I 

1527
00:49:27,631 --> 00:49:30,667
CAN'T I CAN'T BELIEVE I'M 

1528
00:49:30,667 --> 00:49:32,436
HERE. THIS IS THIS WASN'T ON MY

1529
00:49:32,436 --> 00:49:36,006
BINGO CARD. I AM SO HONORED AND 

1530
00:49:36,006 --> 00:49:38,775
PRIVILEGED TO BE ABLE TO HAVE 

1531
00:49:38,775 --> 00:49:41,611
HAD SUCH DIFFERENT JOBS AND WORK

1532
00:49:41,611 --> 00:49:44,781
WITH SO MANY DIFFERENT AMAZING 

1533
00:49:44,781 --> 00:49:46,283
PEOPLE IN THE COURSE OF MY 

1534
00:49:46,283 --> 00:49:47,985
CAREER AND LEARN FROM SO MANY 

1535
00:49:47,985 --> 00:49:50,821
DIFFERENT FOLKS. BEING AT THE 

1536
00:49:50,821 --> 00:49:53,890
OFFICE OF HOUSING HAS BEEN SO 

1537
00:49:53,890 --> 00:49:55,525
GREAT. IT'S BEEN A REAL STRETCH

1538
00:49:55,525 --> 00:49:57,861
FOR ME. WHEN I FIRST CAME TO THE

1539
00:49:57,861 --> 00:50:00,464
OFFICE, I HAD TO LEARN A LOT AND

1540
00:50:00,464 --> 00:50:01,631
THAT WAS ROUGH, BUT ALSO KIND OF

1541
00:50:01,631 --> 00:50:04,368
FUN. AND I'VE CONTINUED TO LEARN

1542
00:50:04,368 --> 00:50:05,736
FROM MY COLLEAGUES AT THE OFFICE

1543
00:50:05,736 --> 00:50:07,304
OF HOUSING AND THE AREAS OF WORK

1544
00:50:07,304 --> 00:50:09,272
THAT WERE NOT SUPER FAMILIAR TO 

1545
00:50:09,272 --> 00:50:11,241
ME, AND I KNOW I HAVE MORE TO 

1546
00:50:11,241 --> 00:50:12,576
LEARN. SO I'M LOOKING FORWARD 

1547
00:50:12,576 --> 00:50:14,077
TO THAT. I'M LOOKING FORWARD TO

1548
00:50:14,077 --> 00:50:15,712
CONTINUING TO WORK WITH ALL THE 

1549
00:50:15,712 --> 00:50:17,347
STAFF TEAMS AT THE OFFICE IN 

1550
00:50:17,347 --> 00:50:19,816
DIFFERENT WAYS THAN I HAVE IN 

1551
00:50:19,816 --> 00:50:22,018
THE PAST, AND TO DO THE BEST I 

1552
00:50:22,018 --> 00:50:23,253
CAN TO SUPPORT OUR STAFF, TEAMS 

1553
00:50:23,253 --> 00:50:25,856
AND OUR PROVIDERS THROUGH 

1554
00:50:25,856 --> 00:50:27,758
WHATEVER CHALLENGES WE HAVE 

1555
00:50:27,758 --> 00:50:29,693
AHEAD. I DO HAVE A LOT OF 

1556
00:50:29,693 --> 00:50:31,661
EXPERIENCE IN IN THIS REALM. 

1557
00:50:31,661 --> 00:50:36,166
THINKING TO DANIEL'S COMMENT 

1558
00:50:36,166 --> 00:50:38,935
ABOUT IDIOSYNCRATIC, ALL THE 

1559
00:50:38,935 --> 00:50:39,970
FUNDING SYSTEMS AND STRUCTURES 

1560
00:50:39,970 --> 00:50:41,671
AND RULES AND REGULATIONS THAT 

1561
00:50:41,671 --> 00:50:42,672
WE OPERATE WITHIN. AND, AND I 

1562
00:50:42,672 --> 00:50:43,407
KNOW THERE'S FOLKS BEHIND ME 

1563
00:50:43,407 --> 00:50:45,809
WHO HAVE SO MUCH EXPERTISE IN 

1564
00:50:45,809 --> 00:50:46,676
ALL OF THESE DIFFERENT RULE SETS

1565
00:50:46,676 --> 00:50:49,479
THAT WE HAVE TO FIND A WAY 

1566
00:50:49,479 --> 00:50:51,181
THROUGH. I'M LOOKING FORWARD TO

1567
00:50:51,181 --> 00:50:53,350
CONTINUING TO FIND CREATIVE WAYS

1568
00:50:53,350 --> 00:50:55,819
TO WORK WITH WITHIN OUR CITY 

1569
00:50:55,819 --> 00:50:56,453
DEPARTMENTS, JUST AS WE TALKED 

1570
00:50:56,453 --> 00:50:57,687
ABOUT WITH OTHER FUNDING 

1571
00:50:57,687 --> 00:50:59,423
PARTNERS, TO TRY AND IMPROVE OUR

1572
00:50:59,423 --> 00:51:01,725
COORDINATION, COLLABORATION, AND

1573
00:51:01,725 --> 00:51:03,527
DO BETTER WITH WHAT WE HAVE. 

1574
00:51:03,527 --> 00:51:05,595
AND, YOU KNOW, TRY TO IMPROVE 

1575
00:51:05,595 --> 00:51:06,696
TRANSPARENCY. WE'VE MADE GREAT 

1576
00:51:06,696 --> 00:51:07,697
STRIDES IN THE LAST COUPLE OF 

1577
00:51:07,697 --> 00:51:09,032
YEARS. WE HAVE REALLY CHANGED 

1578
00:51:09,032 --> 00:51:11,635
THE WAY THAT WE REPORT ON OUR 

1579
00:51:11,635 --> 00:51:12,869
INVESTMENTS. WE HAVE THIS NEW 

1580
00:51:12,869 --> 00:51:15,072
GREAT DASHBOARD. WE HAVE A GREAT

1581
00:51:15,072 --> 00:51:15,806
MAP OF ALL OF OUR INVESTMENTS. 

1582
00:51:15,806 --> 00:51:18,175
WE'LL KEEP LOOKING AT WAYS THAT

1583
00:51:18,175 --> 00:51:19,409
WE CAN TELL THE STORY OF THE 

1584
00:51:19,409 --> 00:51:21,111
OFFICE OF HOUSING AND ALL OF THE

1585
00:51:21,111 --> 00:51:23,814
WORK OF OUR GREAT PARTNERS TO 

1586
00:51:23,814 --> 00:51:26,083
THE PUBLIC AND TO OUR ELECTED 

1587
00:51:26,083 --> 00:51:26,950
OFFICIALS 

1588
00:51:26,950 --> 00:51:27,984
-- THANK YOU SO MUCH FOR THAT. I

1589
00:51:27,984 --> 00:51:30,787
APPRECIATE THAT, AND, 

1590
00:51:30,787 --> 00:51:32,889
COLLEAGUES, I WILL TURN TO YOU 

1591
00:51:32,889 --> 00:51:33,490
TO SEE IF THERE ARE ANY FINAL 

1592
00:51:33,490 --> 00:51:34,057
COMMENTS OR QUESTIONS, AND 

1593
00:51:34,057 --> 00:51:35,525
OTHERWISE, WE WILL BE MOVING ON 

1594
00:51:35,525 --> 00:51:39,563
TO OUR NEXT ITEM OF BUSINESS. 

1595
00:51:39,563 --> 00:51:40,497
ALL RIGHT. THANK YOU SO MUCH, 

1596
00:51:40,497 --> 00:51:41,565
ACTING DIRECTOR LARSON. WE LOOK 

1597
00:51:41,565 --> 00:51:42,232
FORWARD TO. WELL, YOU'RE GOING 

1598
00:51:42,232 --> 00:51:44,401
TO BE AT THE TABLE AGAIN IN FIVE

1599
00:51:44,401 --> 00:51:45,001
MINUTES OR, YOU KNOW, FOR THE 

1600
00:51:45,001 --> 00:51:46,503
NEXT PRESENTATION. BUT WE LOOK 

1601
00:51:46,503 --> 00:51:47,838
FORWARD TO HAVING YOU BACK IN 

1602
00:51:47,838 --> 00:51:49,806
SEPTEMBER TO VOTE ON YOUR 

1603
00:51:49,806 --> 00:51:50,807
CONFIRMATION. THANK YOU. AND 

1604
00:51:50,807 --> 00:51:52,175
THANK YOU. I WAS GOING TO SAY 

1605
00:51:52,175 --> 00:51:52,542
NICOLE. THANKS, 

1606
00:51:52,542 --> 00:51:52,876
-- [LAUGHTER] 

1607
00:51:52,876 --> 00:51:58,348
-- NICOLE ALL RIGHT. WE WILL NOW

1608
00:51:58,348 --> 00:52:00,016
MOVE ON TO OUR NEXT ITEM OF 

1609
00:52:00,016 --> 00:52:01,418
BUSINESS. WILL THE CLERK PLEASE 

1610
00:52:01,418 --> 00:52:04,488
READ ITEM TWO INTO THE RECORD. 

1611
00:52:04,488 --> 00:52:07,057
-- AGENDA ITEM TWO OFFICE OF 

1612
00:52:07,057 --> 00:52:07,691
HOUSING PRESENTATION ON ANNUAL 

1613
00:52:07,691 --> 00:52:10,026
REPORTS FOR BRIEFING AND 

1614
00:52:10,026 --> 00:52:10,327
DISCUSSION. 

1615
00:52:10,327 --> 00:52:10,961
-- ALL RIGHT. FANTASTIC. SO WE 

1616
00:52:10,961 --> 00:52:14,598
ARE GOING TO WELCOME OUR 

1617
00:52:14,598 --> 00:52:16,233
CONTINUED PRESENTER, ACTING 

1618
00:52:16,233 --> 00:52:18,201
DIRECTOR KELLY LARSON. AND THEN 

1619
00:52:18,201 --> 00:52:18,935
WE ARE GOING TO HAVE SOME STAFF 

1620
00:52:18,935 --> 00:52:21,037
FROM THE OFFICE OF HOUSING JOIN 

1621
00:52:21,037 --> 00:52:22,606
US AT THE TABLE. AND AS WE'RE 

1622
00:52:22,606 --> 00:52:23,473
GETTING THEM SET UP, I WILL JUST

1623
00:52:23,473 --> 00:52:27,310
SHARE A LITTLE BIT OF PREAMBLE 

1624
00:52:27,310 --> 00:52:27,944
AND CONTEXT FOR FOR FOLKS HERE. 

1625
00:52:27,944 --> 00:52:29,079
SO THE OFFICE OF HOUSING, AS WE 

1626
00:52:29,079 --> 00:52:30,947
KNOW, PRESENTS OR COMPLETES 

1627
00:52:30,947 --> 00:52:32,949
ANNUAL REPORTS AND PRESENTS 

1628
00:52:32,949 --> 00:52:33,717
THOSE TO COUNCIL. WE KNOW THAT 

1629
00:52:33,717 --> 00:52:35,619
RIGHT NOW OUR HOUSING PROVIDERS 

1630
00:52:35,619 --> 00:52:37,254
ARE FACING MANY CHALLENGES IN 

1631
00:52:37,254 --> 00:52:40,023
THE CITY. AND TODAY WE HAVE AN 

1632
00:52:40,023 --> 00:52:42,359
OPPORTUNITY TO HEAR FROM O 

1633
00:52:42,359 --> 00:52:44,127
PROGRESS ON OUR HOUSING LEVY, 

1634
00:52:44,127 --> 00:52:45,896
PROGRESS ON OUR INVESTMENTS AND 

1635
00:52:45,896 --> 00:52:47,397
OUR WORK TO CONTINUE MAKING 

1636
00:52:47,397 --> 00:52:48,031
SEATTLE A MORE AFFORDABLE PLACE 

1637
00:52:48,031 --> 00:52:49,666
TO LIVE THROUGH THE INVESTMENTS 

1638
00:52:49,666 --> 00:52:52,402
AT THE OFFICE OF HOUSING. SO 

1639
00:52:52,402 --> 00:52:57,207
EVERY YEAR, O O PRESENTS ON OUR 

1640
00:52:57,207 --> 00:52:58,675
ANNUAL INVESTMENTS IN HOUSING 

1641
00:52:58,675 --> 00:53:00,810
LEVY, THE MANDATORY HOUSING 

1642
00:53:00,810 --> 00:53:01,444
AFFORDABILITY, RELIGIOUS LANDS 

1643
00:53:01,444 --> 00:53:06,917
AND MFT O WILL BE PRESENTING AND

1644
00:53:06,917 --> 00:53:07,517
COMPLETING THE MFT REPORT IN 

1645
00:53:07,517 --> 00:53:08,018
SEPTEMBER, SO TODAY'S 

1646
00:53:08,018 --> 00:53:09,920
PRESENTATION WILL COVER THE 

1647
00:53:09,920 --> 00:53:11,821
OTHER THREE REPORTS AS WELL AS 

1648
00:53:11,821 --> 00:53:14,324
INSIGHTS FROM STATEMENTS OF 

1649
00:53:14,324 --> 00:53:15,892
LEGISLATIVE INTENT THAT O WAS 

1650
00:53:15,892 --> 00:53:17,861
HAD DUE TO COUNCIL EARLIER THIS 

1651
00:53:17,861 --> 00:53:19,262
YEAR. SO COLLEAGUES, I WILL HAVE

1652
00:53:19,262 --> 00:53:22,732
THE THE TEAM AT O INTRODUCE 

1653
00:53:22,732 --> 00:53:23,600
THEMSELVES AND PRESENT. AND THEN

1654
00:53:23,600 --> 00:53:25,402
I ASK THAT YOU HOLD YOUR 

1655
00:53:25,402 --> 00:53:26,937
QUESTIONS UNTIL THE END SO THAT 

1656
00:53:26,937 --> 00:53:29,039
WE CAN HAVE A ROBUST 

1657
00:53:29,039 --> 00:53:31,675
CONVERSATION AFTER WE RECEIVE 

1658
00:53:31,675 --> 00:53:32,542
ALL OF THE INFORMATION FROM THE 

1659
00:53:32,542 --> 00:53:35,211
OFFICE. I KNOW I AM LOOKING 

1660
00:53:35,211 --> 00:53:35,745
FORWARD TO DISCUSSING THE 

1661
00:53:35,745 --> 00:53:36,479
PROGRESS THAT WE HAVE ON OUR 

1662
00:53:36,479 --> 00:53:39,015
HOUSING LEVY. IN PARTICULAR, 

1663
00:53:39,015 --> 00:53:41,384
GIVEN THAT WE'VE SEEN SUCH AN 

1664
00:53:41,384 --> 00:53:43,153
INCREASED NEED IN OUR COMMUNITY 

1665
00:53:43,153 --> 00:53:44,354
AND ALSO LEARNING MORE ABOUT 

1666
00:53:44,354 --> 00:53:45,021
SOME OF THE PIVOTS THAT THE 

1667
00:53:45,021 --> 00:53:46,890
OFFICE OF HOUSING IS MAKING TO 

1668
00:53:46,890 --> 00:53:48,625
ENSURE THAT WE ARE INCENTIVIZING

1669
00:53:48,625 --> 00:53:50,594
THE RIGHT KINDS OF UNITS TO COME

1670
00:53:50,594 --> 00:53:51,461
ONLINE. SO I THINK IT'S GOING TO

1671
00:53:51,461 --> 00:53:53,663
BE A FANTASTIC CONVERSATION WITH

1672
00:53:53,663 --> 00:53:55,565
THAT. I WILL PASS IT OVER TO THE

1673
00:53:55,565 --> 00:53:57,367
OFFICE OF HOUSING AND ASK THAT 

1674
00:53:57,367 --> 00:53:59,402
OUR PRESENTERS PLEASE UNMUTE AND

1675
00:53:59,402 --> 00:54:01,471
INTRODUCE YOURSELVES AND BEGIN 

1676
00:54:01,471 --> 00:54:01,771
WHEN READY. 

1677
00:54:01,771 --> 00:54:03,206
-- I HAVE BEEN THOROUGHLY 

1678
00:54:03,206 --> 00:54:04,274
INTRODUCED, AND I WILL HAND IT 

1679
00:54:04,274 --> 00:54:07,544
OVER TO NATHAN. PLEASE. 

1680
00:54:07,544 --> 00:54:09,412
-- HELLO, I'M NATHAN ANTONIO, 

1681
00:54:09,412 --> 00:54:12,148
I'M A POLICY PLANNING AND DATA 

1682
00:54:12,148 --> 00:54:15,619
ANALYST IN THE OFFICE OF 

1683
00:54:15,619 --> 00:54:15,885
HOUSING. 

1684
00:54:15,885 --> 00:54:16,586
-- HI. GOOD AFTERNOON. AMANDA 

1685
00:54:16,586 --> 00:54:18,588
LICORICE. I'M A HOMEOWNERSHIP 

1686
00:54:18,588 --> 00:54:22,158
SPECIALIST AT THE OFFICE OF 

1687
00:54:22,158 --> 00:54:22,425
HOUSING. 

1688
00:54:22,425 --> 00:54:24,461
-- HEY THERE, MARIA DEWEES, 

1689
00:54:24,461 --> 00:54:25,528
STRATEGIC ADVISOR WITH THE 

1690
00:54:25,528 --> 00:54:27,731
POLICY AND PLANNING TEAM 

1691
00:54:27,731 --> 00:54:29,966
-- GREAT. WE HAVE SUCH A GOOD 

1692
00:54:29,966 --> 00:54:31,101
CREW WHO'S HERE AND MANY OTHERS

1693
00:54:31,101 --> 00:54:32,902
WHO PERFORM ALL THE IMPORTANT 

1694
00:54:32,902 --> 00:54:36,339
WORK AND CONTRIBUTE TO THESE 

1695
00:54:36,339 --> 00:54:36,973
REPORTS AND PRESENTATIONS. MANY 

1696
00:54:36,973 --> 00:54:38,475
THANKS TO OUR O TEAM FOR BEING 

1697
00:54:38,475 --> 00:54:39,275
HERE AND FOR THOSE WHO ARE 

1698
00:54:39,275 --> 00:54:42,512
STANDING US UP TO GET HERE. I'LL

1699
00:54:42,512 --> 00:54:43,747
START WITH AN OVERVIEW OF O 

1700
00:54:43,747 --> 00:54:45,582
ANNUAL REPORTS AND CONTEXT FOR 

1701
00:54:45,582 --> 00:54:47,717
WHAT WE FACED IN 2025. THEN 

1702
00:54:47,717 --> 00:54:49,252
NATHAN WILL PROVIDE A 

1703
00:54:49,252 --> 00:54:51,921
COMPREHENSIVE VIEW OF O 

1704
00:54:51,921 --> 00:54:52,522
INVESTMENTS AS HE COVERS THE 

1705
00:54:52,522 --> 00:54:55,158
2025 ANNUAL INVESTMENTS AND 

1706
00:54:55,158 --> 00:54:57,160
HOUSING LEVY REPORT. WE'LL ALSO

1707
00:54:57,160 --> 00:54:59,696
DISCUSS THE 2025 ANNUAL REPORT, 

1708
00:54:59,696 --> 00:55:01,331
AND AMANDA WILL HIGHLIGHT MH 

1709
00:55:01,331 --> 00:55:02,966
ACHIEVEMENTS FOR HOME OWNERSHIP.

1710
00:55:02,966 --> 00:55:07,304
FINALLY, WE'LL SHARE HOW O HAS 

1711
00:55:07,304 --> 00:55:07,837
IMPLEMENTED SOME CREATIVE 

1712
00:55:07,837 --> 00:55:08,438
SOLUTIONS IN THIS CHALLENGING 

1713
00:55:08,438 --> 00:55:10,340
ECONOMIC AND BUDGET LANDSCAPE 

1714
00:55:10,340 --> 00:55:11,875
AND THROUGHOUT THE PRESENTATION 

1715
00:55:11,875 --> 00:55:12,475
WILL INCORPORATE SOME OF THE 

1716
00:55:12,475 --> 00:55:13,943
INFORMATION FROM THE TWO 

1717
00:55:13,943 --> 00:55:15,879
STATEMENTS OF LEGISLATIVE INTENT

1718
00:55:15,879 --> 00:55:19,082
THAT WE RESPONDED TO THIS YEAR. 

1719
00:55:19,082 --> 00:55:22,519
AS. LIOHOO3SA, WHICH REQUESTED 

1720
00:55:22,519 --> 00:55:26,056
UPDATES TO THE SEATTLE HOUSING 

1721
00:55:26,056 --> 00:55:27,757
INVESTMENT PLAN AND SLI OHOO4SB,

1722
00:55:27,757 --> 00:55:30,093
WHICH REPORTED ON OPERATIONS 

1723
00:55:30,093 --> 00:55:32,395
STABILIZATION FUNDING. SO WE'LL

1724
00:55:32,395 --> 00:55:34,197
START WITH AN OVERVIEW OF 2025. 

1725
00:55:34,197 --> 00:55:37,667
WE PROVIDE FOUR ANNUAL REPORTS, 

1726
00:55:37,667 --> 00:55:38,702
THE ANNUAL INVESTMENTS AND 

1727
00:55:38,702 --> 00:55:41,037
HOUSING LEVY REPORT, MANDATORY 

1728
00:55:41,037 --> 00:55:42,338
HOUSING AFFORDABILITY, RELIGIOUS

1729
00:55:42,338 --> 00:55:42,872
LANDS AND MULTIFAMILY TAX 

1730
00:55:42,872 --> 00:55:48,478
EXEMPTION REPORTS ARE TYPICALLY 

1731
00:55:48,478 --> 00:55:49,112
DUE IN JUNE AND REPORT ON THE 

1732
00:55:49,112 --> 00:55:50,080
PRIOR CALENDAR YEAR. THIS YEAR 

1733
00:55:50,080 --> 00:55:52,382
ALREADY NOTED, MFTE WILL COME IN

1734
00:55:52,382 --> 00:55:53,450
SEPTEMBER. TODAY WE'LL BE 

1735
00:55:53,450 --> 00:55:56,152
SPEAKING TO OUR ANNUAL 

1736
00:55:56,152 --> 00:55:56,753
INVESTMENTS AND HOUSING LEVY 

1737
00:55:56,753 --> 00:55:58,855
REPORT AND THE MH REPORT. THE 

1738
00:55:58,855 --> 00:56:00,023
RELIGIOUS LANDS REPORT IS 

1739
00:56:00,023 --> 00:56:00,924
AVAILABLE ON THE WEBSITE FOR 

1740
00:56:00,924 --> 00:56:03,093
THOSE WHO ARE INTERESTED, ALL 

1741
00:56:03,093 --> 00:56:03,960
THE PROJECTS THAT ACCESS THAT 

1742
00:56:03,960 --> 00:56:06,796
DENSITY BONUS ARE ALSO REPORTED 

1743
00:56:06,796 --> 00:56:07,397
IN OUR ANNUAL INVESTMENTS AND 

1744
00:56:07,397 --> 00:56:09,265
HOUSING LEVY REPORT. SINCE THESE

1745
00:56:09,265 --> 00:56:09,833
PROJECTS ON RELIGIOUS LANDS 

1746
00:56:09,833 --> 00:56:15,138
REQUIRE FUNDS THE INVESTMENTS IN

1747
00:56:15,138 --> 00:56:16,940
HOUSING LEVY REPORT IS A 

1748
00:56:16,940 --> 00:56:18,808
COMPREHENSIVE VIEW OVER THE 

1749
00:56:18,808 --> 00:56:19,809
COURSE OF THE YEAR OF WHAT O. H 

1750
00:56:19,809 --> 00:56:22,645
HAS BEEN DOING. IT INCORPORATES 

1751
00:56:22,645 --> 00:56:24,414
ALL OUR MAJOR PROGRAMS RENTAL 

1752
00:56:24,414 --> 00:56:26,182
HOUSING, OPERATING, MAINTENANCE 

1753
00:56:26,182 --> 00:56:28,251
AND SERVICES, HOMEOWNERSHIP, 

1754
00:56:28,251 --> 00:56:29,719
HOMELESSNESS, PREVENTION AND 

1755
00:56:29,719 --> 00:56:31,755
HOUSING STABILITY SERVICES, AND 

1756
00:56:31,755 --> 00:56:33,456
HOME REPAIR AND WEATHERIZATION. 

1757
00:56:33,456 --> 00:56:35,091
IT REPORTS ON HOW FUNDING FROM 

1758
00:56:35,091 --> 00:56:37,293
THE SEATTLE HOUSING LEVY 

1759
00:56:37,293 --> 00:56:37,927
JUMPSTART PAYROLL EXPENSE, TAX 

1760
00:56:37,927 --> 00:56:41,898
M, AYE AND OTHER PUBLIC FUNDING 

1761
00:56:41,898 --> 00:56:43,032
HAS BEEN SPENT. HISTORICALLY, O.

1762
00:56:43,032 --> 00:56:45,235
H HAS ALWAYS ACHIEVED ITS 

1763
00:56:45,235 --> 00:56:47,904
HOUSING LEVY GOALS. ACHIEVING 

1764
00:56:47,904 --> 00:56:49,639
THESE GOALS IS VERY, VERY 

1765
00:56:49,639 --> 00:56:50,907
IMPORTANT AND CONTINUES TO 

1766
00:56:50,907 --> 00:56:55,178
SERVE. BE A. BE OUR NORTH STAR. 

1767
00:56:55,178 --> 00:56:59,048
HERE YOU CAN SEE THE TWO PRIMARY

1768
00:56:59,048 --> 00:56:59,682
FUNDING SOURCES FOR THE OFFICE 

1769
00:56:59,682 --> 00:57:03,520
OF HOUSING SPANNING THE PERIOD 

1770
00:57:03,520 --> 00:57:04,821
2024 TO 2030. THE LEFT BAR SHOWS

1771
00:57:04,821 --> 00:57:06,489
THE SPEND PLAN FOR THE SEATTLE 

1772
00:57:06,489 --> 00:57:08,992
HOUSING LEVY WITH $138 MILLION 

1773
00:57:08,992 --> 00:57:11,227
BUDGET. RENTAL PRODUCTION IS THE

1774
00:57:11,227 --> 00:57:13,763
LARGEST CATEGORY, AND I WILL 

1775
00:57:13,763 --> 00:57:15,865
NOTE THAT IS RENTAL PRODUCTION. 

1776
00:57:15,865 --> 00:57:16,366
BOTH NEW PRODUCTION AND 

1777
00:57:16,366 --> 00:57:19,903
PRESERVATION SO THAT COMPRISES 

1778
00:57:19,903 --> 00:57:23,573
78% OF LEVY FUNDS. OMS FOLLOWS 

1779
00:57:23,573 --> 00:57:25,475
AT 13%, HOME OWNERSHIP AT 6%, 

1780
00:57:25,475 --> 00:57:28,044
AND HOMELESSNESS PREVENTION AT 

1781
00:57:28,044 --> 00:57:29,445
3%. THE RIGHT BAR SHOWS JUMP 

1782
00:57:29,445 --> 00:57:33,416
START PAYROLL EXPENSE TAX, WITH 

1783
00:57:33,416 --> 00:57:35,051
$142 MILLION ANNUAL BUDGET 

1784
00:57:35,051 --> 00:57:39,489
RENTAL PRODUCTION AND O. M S ARE

1785
00:57:39,489 --> 00:57:41,458
BOTH AT 46%. SO YOU SEE A 

1786
00:57:41,458 --> 00:57:42,091
DIFFERENT TYPE OF SPLIT IN THIS 

1787
00:57:42,091 --> 00:57:44,294
FUND SOURCE. HOMEOWNERSHIP IS AT

1788
00:57:44,294 --> 00:57:48,164
6%, AND HOMELESSNESS PREVENTION 

1789
00:57:48,164 --> 00:57:50,033
2%. FOR OTHER FUND SOURCES. OUR 

1790
00:57:50,033 --> 00:57:52,402
2026 PROJECTION FOR MH IS 20 

1791
00:57:52,402 --> 00:57:54,904
MILLION, AND ALL OTHER SOURCES 

1792
00:57:54,904 --> 00:57:57,941
IS 43 MILLION. THIS BUCKET OF 

1793
00:57:57,941 --> 00:58:00,243
OTHER SOURCES INCLUDES A VARIETY

1794
00:58:00,243 --> 00:58:03,379
OF SOURCES, INCLUDING STATE 

1795
00:58:03,379 --> 00:58:04,247
WEATHERIZATION GRANTS, INTEREST,

1796
00:58:04,247 --> 00:58:06,282
EARNINGS, FEDERAL HOME FUNDS, 

1797
00:58:06,282 --> 00:58:09,352
PROGRAM INCOME, LOCAL OPTION, 

1798
00:58:09,352 --> 00:58:12,589
AND MORE. THE SEATTLE HOUSING 

1799
00:58:12,589 --> 00:58:13,489
LEVY REMAINS FOUNDATIONAL TO HHS

1800
00:58:13,489 --> 00:58:15,525
BUDGET, AND JUMPSTART HAS BECOME

1801
00:58:15,525 --> 00:58:17,527
A MAJOR FUND SOURCE FOR O THAT 

1802
00:58:17,527 --> 00:58:19,529
IS INCREASINGLY NEEDED FOR OMS 

1803
00:58:19,529 --> 00:58:21,898
AND CREATIVE CAPITAL AND 

1804
00:58:21,898 --> 00:58:27,003
STABILIZATION STRATEGIES O HAS 

1805
00:58:27,003 --> 00:58:28,671
ALWAYS PRIORITIZED INVESTMENTS 

1806
00:58:28,671 --> 00:58:31,241
FOR THOSE WHO ARE MOST IN NEED, 

1807
00:58:31,241 --> 00:58:33,176
AND THE HOUSING LEVY REQUIRES 

1808
00:58:33,176 --> 00:58:35,512
THAT AT LEAST 60% OF TOTAL LEVY,

1809
00:58:35,512 --> 00:58:36,012
RENTAL, PRODUCTION AND 

1810
00:58:36,012 --> 00:58:38,715
PRESERVATION AND OMS FUNDS SERVE

1811
00:58:38,715 --> 00:58:39,516
HOUSEHOLDS WITH THE LOWEST 

1812
00:58:39,516 --> 00:58:42,018
INCOMES, OR THOSE EARNING LESS 

1813
00:58:42,018 --> 00:58:43,887
THAN 30% OF AREA MEDIAN INCOME. 

1814
00:58:43,887 --> 00:58:46,623
AS OF 2025, O HAS COMMITTED 51% 

1815
00:58:46,623 --> 00:58:50,026
OF OUR LEVY FUNDS, OR 102 

1816
00:58:50,026 --> 00:58:51,227
MILLION TO HOMES FOR HOUSEHOLDS 

1817
00:58:51,227 --> 00:58:55,598
WITH EXTREMELY LOW INCOMES AS 

1818
00:58:55,598 --> 00:58:56,199
FUTURE RENTAL INVESTMENTS AND 

1819
00:58:56,199 --> 00:58:57,066
COMMITMENTS ARE MADE, THIS 

1820
00:58:57,066 --> 00:58:59,002
PERCENTAGE WILL CONTINUE TO RISE

1821
00:58:59,002 --> 00:59:04,173
TO MEET THE REQUIREMENT 2025 WAS

1822
00:59:04,173 --> 00:59:07,010
A CHALLENGING YEAR FOR FOR 

1823
00:59:07,010 --> 00:59:11,648
AFFORDABLE HOUSING. WE SAW 

1824
00:59:11,648 --> 00:59:14,183
FEDERAL FUNDING WITHDRAWN, WHICH

1825
00:59:14,183 --> 00:59:15,985
WAS A LOSS TO OUR REGION OF 

1826
00:59:15,985 --> 00:59:16,619
ABOUT $25 MILLION FOR EMERGENCY 

1827
00:59:16,619 --> 00:59:18,288
HOUSING VOUCHERS. WE EXPERIENCED

1828
00:59:18,288 --> 00:59:21,491
A REDUCTION OF NEW CONTINUUM OF 

1829
00:59:21,491 --> 00:59:22,158
CARE OPERATING SUPPORT OVER THE 

1830
00:59:22,158 --> 00:59:22,725
LAST SEVERAL YEARS. AND OF 

1831
00:59:22,725 --> 00:59:27,096
COURSE, THE THREATS REMAIN ON 

1832
00:59:27,096 --> 00:59:28,998
THE HORIZON. WE CREATED. THIS 

1833
00:59:28,998 --> 00:59:30,066
CREATED TREMENDOUS UNCERTAINTY 

1834
00:59:30,066 --> 00:59:33,536
IN THE SECTOR, ESPECIALLY FOR 

1835
00:59:33,536 --> 00:59:35,505
SUPPORTIVE HOUSING OPERATING 

1836
00:59:35,505 --> 00:59:36,839
COSTS SUCH AS INSURANCE AND 

1837
00:59:36,839 --> 00:59:37,473
MATERIALS AND LABOR TO MAINTAIN 

1838
00:59:37,473 --> 00:59:41,544
AND REPAIR. HOMES HAVE CONTINUED

1839
00:59:41,544 --> 00:59:43,079
TO RISE. INEQUALITY HAS 

1840
00:59:43,079 --> 00:59:45,748
CONTINUED TO GROW, INCREASING 

1841
00:59:45,748 --> 00:59:46,316
HOMEOWNER HOUSEHOLD INCOMES 

1842
00:59:46,316 --> 00:59:48,217
CONTINUE TO PUSH SEATTLE'S AREA

1843
00:59:48,217 --> 00:59:50,720
MEDIAN INCOME UPWARD, WHICH IN 

1844
00:59:50,720 --> 00:59:51,220
TURN RAISED THE INCOME 

1845
00:59:51,220 --> 00:59:52,889
RESTRICTED RENT LIMITS BEYOND 

1846
00:59:52,889 --> 00:59:54,357
WHAT MANY LOW INCOME FAMILIES 

1847
00:59:54,357 --> 00:59:58,361
CAN AFFORD. WITH ALL THIS, OUR 

1848
00:59:58,361 --> 00:59:58,895
LOCAL FUNDING SOURCES ARE 

1849
00:59:58,895 --> 01:00:04,133
STRAINED TO ADDRESS MULTIPLE 

1850
01:00:04,133 --> 01:00:04,767
CHALLENGES. THROUGH THESE 

1851
01:00:04,767 --> 01:00:05,601
CHALLENGES, O IS COMMITTED TO 

1852
01:00:05,601 --> 01:00:07,804
OUR MISSION OF PERMANENTLY 

1853
01:00:07,804 --> 01:00:10,907
AFFORDABLE INCOME, RESTRICTED 

1854
01:00:10,907 --> 01:00:11,341
RENTAL HOUSING AND 

1855
01:00:11,341 --> 01:00:12,241
HOMEOWNERSHIP. IT'S THE 

1856
01:00:12,241 --> 01:00:13,209
FOUNDATION OF OUR WORK, AND 

1857
01:00:13,209 --> 01:00:15,545
IT'S ACHIEVED THROUGH DIRECT 

1858
01:00:15,545 --> 01:00:17,580
INVESTMENT POLICY AND REGULATORY

1859
01:00:17,580 --> 01:00:18,047
REQUIREMENTS SUCH AS 

1860
01:00:18,047 --> 01:00:22,251
INCLUSIONARY ZONING. IN SEATTLE,

1861
01:00:22,251 --> 01:00:23,619
APPROXIMATELY 7% OF ALL HOUSING 

1862
01:00:23,619 --> 01:00:27,790
UNITS IN THE MARKET AND 15% OF 

1863
01:00:27,790 --> 01:00:28,391
OCCUPIED RENTAL HOUSING UNITS 

1864
01:00:28,391 --> 01:00:31,928
ARE INCOME AND RENT RESTRICTED. 

1865
01:00:31,928 --> 01:00:34,263
THERE ARE OTHER CITIES, LIKE THE

1866
01:00:34,263 --> 01:00:35,732
CITY OF BOSTON THAT ACHIEVE MUCH

1867
01:00:35,732 --> 01:00:37,700
HIGHER PERCENTAGES, AND 

1868
01:00:37,700 --> 01:00:42,939
CERTAINLY CITIES IN EUROPE ARE 

1869
01:00:42,939 --> 01:00:43,506
STRIVING FOR HIGHER AMOUNTS 

1870
01:00:43,506 --> 01:00:45,508
HERE. AND THIS IS AN INTERESTING

1871
01:00:45,508 --> 01:00:46,142
NEW METRIC THAT WE ARE LOOKING 

1872
01:00:46,142 --> 01:00:48,077
AT AT THE OFFICE OF HOUSING. WE 

1873
01:00:48,077 --> 01:00:49,212
BELIEVE A HEALTHY STOCK OF 

1874
01:00:49,212 --> 01:00:49,846
INCOME AND RENT RESTRICTED HOMES

1875
01:00:49,846 --> 01:00:52,248
THROUGHOUT SEATTLE IS THE 

1876
01:00:52,248 --> 01:00:54,584
FOUNDATION OF AFFORDABILITY FOR 

1877
01:00:54,584 --> 01:00:56,819
LOW INCOME INDIVIDUALS AND 

1878
01:00:56,819 --> 01:00:57,787
FAMILIES, AND ALLOWS OUR CITY TO

1879
01:00:57,787 --> 01:00:59,322
CONTINUE TO BE DIVERSE AND 

1880
01:00:59,322 --> 01:01:00,256
INCLUSIVE, MAKING IT POSSIBLE 

1881
01:01:00,256 --> 01:01:03,960
FOR PEOPLE OF ALL INCOMES TO 

1882
01:01:03,960 --> 01:01:07,196
LIVE EQUITABLY AND ACCESS 

1883
01:01:07,196 --> 01:01:08,831
OPPORTUNITY. IN 2025, WE 

1884
01:01:08,831 --> 01:01:10,566
RESPONDED TO THE CHALLENGES WE 

1885
01:01:10,566 --> 01:01:12,568
HEARD FROM OUR PROVIDERS WITH 

1886
01:01:12,568 --> 01:01:13,970
CREATIVE SOLUTIONS TO PRESERVE 

1887
01:01:13,970 --> 01:01:15,938
AND PREVENT LOSS OF UNITS FROM 

1888
01:01:15,938 --> 01:01:17,373
OUR AFFORDABLE HOUSING PORTFOLIO

1889
01:01:17,373 --> 01:01:20,243
AS MUCH AS WE COULD. SHIFTING 

1890
01:01:20,243 --> 01:01:22,211
FOCUS TOWARD THE LONG TERM 

1891
01:01:22,211 --> 01:01:22,712
FINANCIAL AND PHYSICAL 

1892
01:01:22,712 --> 01:01:25,348
SUSTAINABILITY OF OUR BUILDINGS.

1893
01:01:25,348 --> 01:01:28,751
I'LL HAND IT TO NATHAN. 

1894
01:01:28,751 --> 01:01:30,353
-- AGAIN. ONCE AGAIN, MY NAME IS

1895
01:01:30,353 --> 01:01:31,654
NATHAN ANTONIO. I'M AN ANALYST 

1896
01:01:31,654 --> 01:01:33,656
IN THE OFFICE OF HOUSING. IN 

1897
01:01:33,656 --> 01:01:35,124
THIS SECTION, I'LL BE 

1898
01:01:35,124 --> 01:01:38,194
PRESENTING INFORMATION ABOUT OUR

1899
01:01:38,194 --> 01:01:38,761
2025 ANNUAL INVESTMENTS AND 

1900
01:01:38,761 --> 01:01:42,165
HOUSING LEVY REPORT THE 2023 

1901
01:01:42,165 --> 01:01:43,332
SEATTLE HOUSING LEVY HAS A SEVEN

1902
01:01:43,332 --> 01:01:46,335
YEAR PERIOD RUNNING FROM 2024 

1903
01:01:46,335 --> 01:01:48,971
THROUGH 2030, AND WE HAVE NOW 

1904
01:01:48,971 --> 01:01:51,074
COMPLETED TWO YEARS AND ARE IN 

1905
01:01:51,074 --> 01:01:52,141
THE THIRD AYE, WHICH IS ON TRACK

1906
01:01:52,141 --> 01:01:55,144
TO ACHIEVE OUR 2023 HOUSING LEVY

1907
01:01:55,144 --> 01:01:56,746
GOALS IN JUST THE TWO YEAR SPAN 

1908
01:01:56,746 --> 01:02:00,016
OF 2024 THROUGH 2025, WE HAVE 

1909
01:02:00,016 --> 01:02:03,820
INVESTED TO BUILD OR PRESERVE 

1910
01:02:03,820 --> 01:02:05,788
1646 AFFORDABLE RENTAL HOMES, 

1911
01:02:05,788 --> 01:02:08,091
WHICH IS ABOUT 47% OF OUR 3516 

1912
01:02:08,091 --> 01:02:14,130
UNIT GOAL. WE'VE ALSO PROVIDED 

1913
01:02:14,130 --> 01:02:16,365
SUPPORTS FOR 712 UNITS OR TAKING

1914
01:02:16,365 --> 01:02:21,070
US TO 62% OF OUR SEVEN YEAR GOAL

1915
01:02:21,070 --> 01:02:23,239
OF 1156 UNITS. AND WE HAVE 

1916
01:02:23,239 --> 01:02:27,577
INVESTED TO BUILD HOMES AND 

1917
01:02:27,577 --> 01:02:28,911
ASSIST 126 HOMEOWNERSHIP 

1918
01:02:28,911 --> 01:02:30,713
HOUSEHOLDS, WHICH PUTS US AT 34%

1919
01:02:30,713 --> 01:02:34,917
OF OUR SEVEN YEAR GOAL. MOVING 

1920
01:02:34,917 --> 01:02:37,153
ON TO RENTAL HOUSING, OUR RENTAL

1921
01:02:37,153 --> 01:02:38,654
HOUSING PROGRAM FUNDS PRODUCTION

1922
01:02:38,654 --> 01:02:40,757
AND PRESERVATION OF RENTAL 

1923
01:02:40,757 --> 01:02:42,158
HOUSING THAT WILL SERVE LOW 

1924
01:02:42,158 --> 01:02:43,459
INCOME SEATTLE RESIDENTS AT OR 

1925
01:02:43,459 --> 01:02:44,494
BELOW 60% OF AREA MEDIAN INCOME,

1926
01:02:44,494 --> 01:02:48,798
OR AMI, FOR A MINIMUM OF AT 

1927
01:02:48,798 --> 01:02:52,502
LEAST 50 YEARS IN 2025, OVER 

1928
01:02:52,502 --> 01:02:53,669
$133 MILLION WAS AWARDED THROUGH

1929
01:02:53,669 --> 01:02:56,205
THIS PROGRAM. THESE AWARDS WENT 

1930
01:02:56,205 --> 01:03:00,109
TO FOUR NEW BUILDINGS WITH 550 

1931
01:03:00,109 --> 01:03:02,111
UNITS, NEARLY HALF OF THEM BEING

1932
01:03:02,111 --> 01:03:04,280
TWO BEDROOM, FAMILY SIZED UNITS,

1933
01:03:04,280 --> 01:03:07,450
AS WELL AS EIGHT CAPITAL 

1934
01:03:07,450 --> 01:03:08,751
PRESERVATION PROJECTS WITH 782 

1935
01:03:08,751 --> 01:03:11,954
UNITS IN TOTAL AND NINE 

1936
01:03:11,954 --> 01:03:13,089
BUILDINGS RECEIVED NEW DEBT 

1937
01:03:13,089 --> 01:03:14,023
RESTRUCTURING LOANS, WHICH WE 

1938
01:03:14,023 --> 01:03:16,526
WILL DISCUSS IN MORE DETAIL 

1939
01:03:16,526 --> 01:03:20,163
LATER IN THE PRESENTATION THE 

1940
01:03:20,163 --> 01:03:23,132
OPERATING, MAINTENANCE AND 

1941
01:03:23,132 --> 01:03:24,100
SERVICES OR OMS PROGRAM PROVIDES

1942
01:03:24,100 --> 01:03:26,068
OPERATING AND SERVICES SUBSIDIES

1943
01:03:26,068 --> 01:03:29,839
FOR BUILDINGS THAT SERVE 

1944
01:03:29,839 --> 01:03:30,373
EXTREMELY LOW INCOME AND 

1945
01:03:30,373 --> 01:03:30,973
FORMERLY HOMELESS RESIDENTS. 

1946
01:03:30,973 --> 01:03:31,674
THESE SUBSIDIES HELP PAY FOR 

1947
01:03:31,674 --> 01:03:33,109
NECESSARY OPERATING EXPENSES 

1948
01:03:33,109 --> 01:03:35,344
SUCH AS MAINTENANCE AND REPAIRS,

1949
01:03:35,344 --> 01:03:37,580
BASIC UTILITIES, SUPPORTIVE 

1950
01:03:37,580 --> 01:03:39,615
SERVICES FOR RESIDENTS AS WELL 

1951
01:03:39,615 --> 01:03:40,917
AS STAFF WAGES, AND THEY ARE 

1952
01:03:40,917 --> 01:03:42,785
SORELY NEEDED TO SUPPLEMENT THE 

1953
01:03:42,785 --> 01:03:44,487
LOW RENTS PAID BY THESE 

1954
01:03:44,487 --> 01:03:47,023
RESIDENTS WITH EXTREMELY LOW 

1955
01:03:47,023 --> 01:03:48,491
INCOMES. SUBSIDY AWARDS ARE MADE

1956
01:03:48,491 --> 01:03:49,826
FOR A MINIMUM TERM OF 20 YEARS 

1957
01:03:49,826 --> 01:03:51,327
TO DEMONSTRATE THE CITY'S 

1958
01:03:51,327 --> 01:03:52,662
COMMITMENT TO SUPPORTING THESE 

1959
01:03:52,662 --> 01:03:53,296
DEEPLY AFFORDABLE HOMES IN THE 

1960
01:03:53,296 --> 01:03:55,198
LONG TERM, WHICH IS CRITICAL TO 

1961
01:03:55,198 --> 01:03:56,933
SECURING OTHER, LEVERAGING FUNDS

1962
01:03:56,933 --> 01:03:59,735
AND KEEPING PEOPLE HOUSED. THERE

1963
01:03:59,735 --> 01:04:01,470
WERE THREE NEW OEM SUBSIDY 

1964
01:04:01,470 --> 01:04:06,242
AWARDS MADE IN 2025. TWO WERE 

1965
01:04:06,242 --> 01:04:07,510
FINALIZED FOR THE 2016 HOUSING 

1966
01:04:07,510 --> 01:04:08,744
LEVY, SO THEY WERE LIKE THE LAST

1967
01:04:08,744 --> 01:04:12,415
TWO THAT WE MADE UNDER THE 

1968
01:04:12,415 --> 01:04:14,350
PREVIOUS LEVY. THOSE PROJECTS 

1969
01:04:14,350 --> 01:04:16,552
TOTALED 204 UNITS, AND THEIR 

1970
01:04:16,552 --> 01:04:17,186
COMBINED FIRST YEAR COMMITMENT 

1971
01:04:17,186 --> 01:04:23,125
IS ABOUT $2,250,000. THE OTHER 

1972
01:04:23,125 --> 01:04:25,127
WAS A PRELIMINARY COMMITMENT 

1973
01:04:25,127 --> 01:04:25,962
THAT WOULD BE THE FIRST UNDER 

1974
01:04:25,962 --> 01:04:28,898
THE 2023 HOUSING LEVY TO THE 

1975
01:04:28,898 --> 01:04:30,499
FIRST SUCH PROJECT TO COME 

1976
01:04:30,499 --> 01:04:36,472
ONLINE, WITH 120 UNITS AND $3.6 

1977
01:04:36,472 --> 01:04:38,975
MILLION IN SUPPORT IN THAT FIRST

1978
01:04:38,975 --> 01:04:44,413
YEAR, WHICH ALSO HAS OR HAD 

1979
01:04:44,413 --> 01:04:46,582
$17.9 MILLION IN ONGOING SUBSIDY

1980
01:04:46,582 --> 01:04:49,485
COMMITMENTS IN 2025, SUPPORTING 

1981
01:04:49,485 --> 01:04:55,157
ABOUT 2400 UNITS. ALMOST ALL OF 

1982
01:04:55,157 --> 01:04:55,691
THEM PERMANENT SUPPORTIVE 

1983
01:04:55,691 --> 01:04:56,859
HOUSING. MOVING ON TO 

1984
01:04:56,859 --> 01:04:58,928
HOMEOWNERSHIP, THE HOMEOWNERSHIP

1985
01:04:58,928 --> 01:05:00,529
PROGRAM FUNDS THE DEVELOPMENT OF

1986
01:05:00,529 --> 01:05:02,331
NEW RESALE RESTRICTED, 

1987
01:05:02,331 --> 01:05:02,932
PERMANENTLY AFFORDABLE HOMES 

1988
01:05:02,932 --> 01:05:05,568
THAT WILL BE SOLD TO LOW INCOME,

1989
01:05:05,568 --> 01:05:06,269
FIRST TIME HOME BUYERS AT 

1990
01:05:06,269 --> 01:05:06,769
AFFORDABLE PRICES TO BE 

1991
01:05:06,769 --> 01:05:07,770
MAINTAINED FOR A MINIMUM OF 50 

1992
01:05:07,770 --> 01:05:10,306
YEARS. IT ALSO INCLUDES FUNDING 

1993
01:05:10,306 --> 01:05:12,275
FOR DOWN PAYMENT ASSISTANCE, 

1994
01:05:12,275 --> 01:05:14,210
AGAIN ALSO FOR LOW INCOME, FIRST

1995
01:05:14,210 --> 01:05:16,279
TIME HOME BUYERS, AS WELL AS 

1996
01:05:16,279 --> 01:05:16,579
FORECLOSURE 

1997
01:05:16,579 --> 01:05:16,913
-- [LAUGHTER] 

1998
01:05:16,913 --> 01:05:19,248
-- PREVENTION IN 2025, $15 

1999
01:05:19,248 --> 01:05:21,317
MILLION WAS AWARDED THROUGH OUR 

2000
01:05:21,317 --> 01:05:23,686
HOMEOWNERSHIP PROGRAM FOR 105 

2001
01:05:23,686 --> 01:05:26,188
RESALE RESTRICTED, PERMANENTLY 

2002
01:05:26,188 --> 01:05:29,058
AFFORDABLE HOMES. THIS INCLUDES 

2003
01:05:29,058 --> 01:05:30,259
TWO SURPLUS CITY OWNED SITES IN 

2004
01:05:30,259 --> 01:05:32,828
THE RAINIER VALLEY. AFFORDABLE 

2005
01:05:32,828 --> 01:05:33,462
HOMEOWNERSHIP INITIATIVE, WHICH 

2006
01:05:33,462 --> 01:05:36,365
TOGETHER WILL HAVE 24 NEW TWO 

2007
01:05:36,365 --> 01:05:39,902
BEDROOM HOMES. ALL RIGHT, MOVING

2008
01:05:39,902 --> 01:05:41,537
QUICKLY NOW INTO HOMELESSNESS, 

2009
01:05:41,537 --> 01:05:44,006
PREVENTION AND HOUSING STABILITY

2010
01:05:44,006 --> 01:05:45,675
SERVICES. THIS PROGRAM FUNDS, 

2011
01:05:45,675 --> 01:05:46,175
SERVICES AND FINANCIAL 

2012
01:05:46,175 --> 01:05:47,410
ASSISTANCE TO PREVENT 

2013
01:05:47,410 --> 01:05:49,278
HOMELESSNESS, AS WELL AS TO 

2014
01:05:49,278 --> 01:05:49,912
REHOUSE INDIVIDUALS AND FAMILIES

2015
01:05:49,912 --> 01:05:52,214
AFTER EXPERIENCING HOMELESSNESS.

2016
01:05:52,214 --> 01:05:53,816
IT ALSO SUPPORTS AFFORDABLE 

2017
01:05:53,816 --> 01:05:55,418
HOUSING PROVIDERS AND HELPING 

2018
01:05:55,418 --> 01:05:55,985
RESIDENTS BUILD SKILLS AND 

2019
01:05:55,985 --> 01:05:57,353
CONNECT WITH OTHER SERVICES THAT

2020
01:05:57,353 --> 01:06:02,258
CAN HELP THEM STAY HOUSED. IN 

2021
01:06:02,258 --> 01:06:04,093
2025, 900 HOUSEHOLDS 

2022
01:06:04,093 --> 01:06:04,694
PARTICIPATED IN HOMELESSNESS, 

2023
01:06:04,694 --> 01:06:06,562
PREVENTION AND RAPID REHOUSING 

2024
01:06:06,562 --> 01:06:09,465
PROGRAMS FUNDED WITH 2.5 MILLION

2025
01:06:09,465 --> 01:06:12,768
HOUSING LEVY DOLLARS, WHICH ALSO

2026
01:06:12,768 --> 01:06:14,537
PROVIDED 3.1 MILLION IN RESIDENT

2027
01:06:14,537 --> 01:06:16,272
SERVICES FUNDING TO 12 

2028
01:06:16,272 --> 01:06:19,542
AFFORDABLE HOUSING PROVIDERS 

2029
01:06:19,542 --> 01:06:24,146
THAT TOGETHER SERVED ABOUT 4200 

2030
01:06:24,146 --> 01:06:26,649
HOUSEHOLDS. AND LASTLY, WE HAVE 

2031
01:06:26,649 --> 01:06:27,783
THE HOME REPAIR AND 

2032
01:06:27,783 --> 01:06:29,785
WEATHERIZATION PROGRAM. THIS 

2033
01:06:29,785 --> 01:06:32,288
PROGRAM ASSISTS HOMEOWNERS AT OR

2034
01:06:32,288 --> 01:06:33,989
BELOW 80% OF AMI WITH CRITICAL 

2035
01:06:33,989 --> 01:06:35,591
HEALTH AND SAFETY REPAIRS TO 

2036
01:06:35,591 --> 01:06:40,863
PRESERVE THEIR HOMES. THE 

2037
01:06:40,863 --> 01:06:41,497
WEATHERIZATION PROGRAM FOCUSES 

2038
01:06:41,497 --> 01:06:42,131
ON ENERGY CONSERVATION, INDOOR 

2039
01:06:42,131 --> 01:06:42,698
AIR QUALITY, AND REDUCING 

2040
01:06:42,698 --> 01:06:43,733
UTILITY COSTS FOR RENTERS AND 

2041
01:06:43,733 --> 01:06:48,537
HOMEOWNERS. IN 2020, FIVE, OVER 

2042
01:06:48,537 --> 01:06:49,638
$458,000 WAS PROVIDED IN HOME 

2043
01:06:49,638 --> 01:06:51,507
REPAIR LOANS AND GRANTS TO 

2044
01:06:51,507 --> 01:06:55,311
ASSIST 87 LOW INCOME HOMEOWNERS 

2045
01:06:55,311 --> 01:06:57,446
AND $8.6 MILLION IN 

2046
01:06:57,446 --> 01:06:58,381
WEATHERIZATION. GRANTS WERE MADE

2047
01:06:58,381 --> 01:06:59,281
TO SERVE 403 SINGLE FAMILY 

2048
01:06:59,281 --> 01:07:01,217
HOMES, AS WELL AS EIGHT 

2049
01:07:01,217 --> 01:07:03,185
MULTI-FAMILY BUILDINGS WITH OVER

2050
01:07:03,185 --> 01:07:05,855
900 AFFORDABLE APARTMENTS IN 

2051
01:07:05,855 --> 01:07:09,392
THEM. 

2052
01:07:09,392 --> 01:07:10,960
-- I WANT TO THANK NATHAN FOR 

2053
01:07:10,960 --> 01:07:12,428
ALL THE AMAZING WORK HE DOES ON 

2054
01:07:12,428 --> 01:07:13,095
THESE REPORTS. IT'S INCREDIBLE.

2055
01:07:13,095 --> 01:07:17,500
SO IT'S GREAT TO ALSO HAVE YOU 

2056
01:07:17,500 --> 01:07:19,001
COME HERE AND PRESENT ALL THIS 

2057
01:07:19,001 --> 01:07:20,636
INFORMATION AND BE HERE FOR ALL 

2058
01:07:20,636 --> 01:07:21,237
THE TECHNICAL QUESTIONS THAT 

2059
01:07:21,237 --> 01:07:23,839
SURFACE. NEXT, WE'RE GOING TO 

2060
01:07:23,839 --> 01:07:26,308
SPEAK ABOUT MHA IN 2025. MHA IS 

2061
01:07:26,308 --> 01:07:28,144
SEATTLE'S INCLUSIONARY ZONING 

2062
01:07:28,144 --> 01:07:28,711
PROGRAM, WHERE CERTAIN NEW 

2063
01:07:28,711 --> 01:07:30,679
DEVELOPMENTS MUST OFFER ON SITE 

2064
01:07:30,679 --> 01:07:33,849
AFFORDABLE HOUSING OR PAY A FEE 

2065
01:07:33,849 --> 01:07:36,352
IN LIEU IN 2025, OH RECEIVED $47

2066
01:07:36,352 --> 01:07:39,121
MILLION IN MHA PAYMENT 

2067
01:07:39,121 --> 01:07:40,056
CONTRIBUTIONS, NEARLY DOUBLING 

2068
01:07:40,056 --> 01:07:42,958
THE AMOUNT WE RECEIVED IN 2024. 

2069
01:07:42,958 --> 01:07:45,961
WE AWARDED, FOR EXAMPLE, ON THE 

2070
01:07:45,961 --> 01:07:47,296
SCREEN, 26.7 MILLION OF MHA FOR 

2071
01:07:47,296 --> 01:07:49,965
THE BEACON CROSSING 

2072
01:07:49,965 --> 01:07:51,667
DEVELOPMENTS, 125 UNIT BUILDING 

2073
01:07:51,667 --> 01:07:53,736
LOCATED NEAR THE BEACON HILL 

2074
01:07:53,736 --> 01:07:55,604
LIGHT RAIL STATION. IN 2025, 

2075
01:07:55,604 --> 01:07:58,074
THERE WERE ALSO 86 MHA ON SITE 

2076
01:07:58,074 --> 01:08:02,278
PERFORMANCE UNITS COMMITTED I'LL

2077
01:08:02,278 --> 01:08:04,480
SHARE A FEW KEY TAKEAWAYS FROM 

2078
01:08:04,480 --> 01:08:06,882
THE MHA REPORT TO DATE, MHA 

2079
01:08:06,882 --> 01:08:09,418
FUNDS HAVE BEEN AWARDED TO OVER 

2080
01:08:09,418 --> 01:08:12,388
4600 AFFORDABLE UNITS, 343 MHA 

2081
01:08:12,388 --> 01:08:15,925
PERFORMANCE HOMES HAVE BEEN 

2082
01:08:15,925 --> 01:08:17,693
BUILT WITH ANOTHER 255 

2083
01:08:17,693 --> 01:08:19,462
COMMITTED. DEVELOPMENT IN LOW 

2084
01:08:19,462 --> 01:08:21,564
RISE ZONES HAS BEEN RELIABLY 

2085
01:08:21,564 --> 01:08:22,164
STEADY OVER TIME, COMPRISING 

2086
01:08:22,164 --> 01:08:23,499
ABOUT ONE THIRD OF TOTAL 

2087
01:08:23,499 --> 01:08:27,103
PAYMENTS SINCE MHA WAS ADOPTED. 

2088
01:08:27,103 --> 01:08:29,071
MANY BELIEVE THAT FUTURE 

2089
01:08:29,071 --> 01:08:30,306
TOWNHOME DEVELOPMENT WILL SHIFT 

2090
01:08:30,306 --> 01:08:32,374
FROM LOW RISE TO NEIGHBORHOOD 

2091
01:08:32,374 --> 01:08:33,943
RESIDENTIAL ZONES, WHICH WAS 

2092
01:08:33,943 --> 01:08:36,512
UPZONE WERE UP ZONED IN 2025 

2093
01:08:36,512 --> 01:08:38,380
WITHOUT MHA REQUIREMENTS. THIS 

2094
01:08:38,380 --> 01:08:39,915
IS ANOTHER BIG POTENTIAL CHANGE 

2095
01:08:39,915 --> 01:08:42,651
ON THE HORIZON. ALTHOUGH WE HAVE

2096
01:08:42,651 --> 01:08:44,954
BOTH MHA COMMERCIAL AND 

2097
01:08:44,954 --> 01:08:46,822
RESIDENTIAL, COMMERCIAL 

2098
01:08:46,822 --> 01:08:48,157
DEVELOPMENT ONLY ACCOUNTS FOR 

2099
01:08:48,157 --> 01:08:50,326
ABOUT ONE IN EVERY $10 OF MHA 

2100
01:08:50,326 --> 01:08:52,127
PAYMENT CONTRIBUTIONS. AND NOW 

2101
01:08:52,127 --> 01:08:53,863
AMANDA IS GOING TO SHARE MORE 

2102
01:08:53,863 --> 01:08:56,465
ABOUT HOW MHA SUPPORTS 

2103
01:08:56,465 --> 01:08:58,167
AFFORDABLE HOMEOWNERSHIP. 

2104
01:08:58,167 --> 01:08:59,301
-- THANK YOU. KELLY. HI. MY NAME

2105
01:08:59,301 --> 01:09:01,370
IS AMANDA. I'M A HOMEOWNERSHIP 

2106
01:09:01,370 --> 01:09:04,306
PROGRAM SPECIALIST AT. OH, I GET

2107
01:09:04,306 --> 01:09:05,941
TO TALK A LITTLE BIT MORE ABOUT 

2108
01:09:05,941 --> 01:09:08,410
HOW MHA IS CREATING PERMANENTLY 

2109
01:09:08,410 --> 01:09:09,979
AFFORDABLE HOMEOWNERSHIP UNITS 

2110
01:09:09,979 --> 01:09:11,981
ACROSS THE CITY. SO FAR, $16 

2111
01:09:11,981 --> 01:09:14,483
MILLION IN MHA PAYMENT FUNDS 

2112
01:09:14,483 --> 01:09:17,353
HAVE BEEN USED TO BUILD 75 HOMES

2113
01:09:17,353 --> 01:09:18,354
IN PROJECTS IN NEIGHBORHOODS 

2114
01:09:18,354 --> 01:09:21,423
LIKE PHINNEY RIDGE, SOUTH PARK, 

2115
01:09:21,423 --> 01:09:23,092
CAPITOL HILL, BEACON HILL, AND 

2116
01:09:23,092 --> 01:09:25,394
ANOTHER 38 HOMES IN THE 

2117
01:09:25,394 --> 01:09:27,296
PIPELINE. THESE PROJECTS WERE 

2118
01:09:27,296 --> 01:09:29,265
AWARDED THROUGH COMPETITIVE NOFA

2119
01:09:29,265 --> 01:09:30,799
ROUNDS TO STEWARDSHIP PARTNERS, 

2120
01:09:30,799 --> 01:09:33,969
AND EACH HOME IS SOLD TO INCOME 

2121
01:09:33,969 --> 01:09:35,804
ELIGIBLE FIRST TIME HOME BUYERS.

2122
01:09:35,804 --> 01:09:36,672
THE STEWARD STAYS CONNECTED TO 

2123
01:09:36,672 --> 01:09:38,040
THE HOMES AND THE HOME BUYERS 

2124
01:09:38,040 --> 01:09:40,876
FOR THE LIFE OF THE HOME. 

2125
01:09:40,876 --> 01:09:42,912
INSTEAD OF PAYING INTO MHA, A 

2126
01:09:42,912 --> 01:09:44,480
PRIVATE DEVELOPER CAN OPT FOR 

2127
01:09:44,480 --> 01:09:46,515
MHA PERFORMANCE AND PROVIDE AN 

2128
01:09:46,515 --> 01:09:48,217
AFFORDABLE HOME AS A PART OF A 

2129
01:09:48,217 --> 01:09:51,687
MARKET RATE DEVELOPMENT. THESE 

2130
01:09:51,687 --> 01:09:53,122
MHA PERFORMANCE HOMES ARE BUILT 

2131
01:09:53,122 --> 01:09:54,557
RIGHT ALONGSIDE THE MARKET RATE 

2132
01:09:54,557 --> 01:09:57,359
UNITS WITH EQUIVALENT FIXTURES 

2133
01:09:57,359 --> 01:09:59,562
AND FINISHES. TO DATE, ONLY 

2134
01:09:59,562 --> 01:10:01,197
THREE MHA PERFORMANCE HOMES HAVE

2135
01:10:01,197 --> 01:10:04,967
BEEN PURCHASED AT AN AFFORDABLY 

2136
01:10:04,967 --> 01:10:06,035
CALCULATED SALES PRICE. HOWEVER,

2137
01:10:06,035 --> 01:10:08,637
WE HAVE 11 MORE HOMES IN THE 

2138
01:10:08,637 --> 01:10:10,206
PIPELINE. MHA PERFORMANCE HOMES 

2139
01:10:10,206 --> 01:10:11,540
ARE CREATED IN DEVELOPMENTS THAT

2140
01:10:11,540 --> 01:10:13,108
WOULD BE OUT OF REACH FOR LOW 

2141
01:10:13,108 --> 01:10:15,377
INCOME HOME BUYERS AND HELP 

2142
01:10:15,377 --> 01:10:18,814
DIVERSIFY NEIGHBORHOODS. FOR 

2143
01:10:18,814 --> 01:10:20,683
EXAMPLE, THE OLIVE DEVELOPMENT 

2144
01:10:20,683 --> 01:10:23,152
IS A 21 UNIT TOWNHOME PROJECT IN

2145
01:10:23,152 --> 01:10:25,087
BALLARD, BUILT BY SHELTER HOMES 

2146
01:10:25,087 --> 01:10:27,022
WITH A UNIQUE DESIGN COVERED 

2147
01:10:27,022 --> 01:10:29,925
PARKING AND COVERED PARKING. TWO

2148
01:10:29,925 --> 01:10:32,661
OF THE 21 HOMES WILL BE SOLD AS 

2149
01:10:32,661 --> 01:10:34,330
MHA PERFORMANCE UNITS, EACH WITH

2150
01:10:34,330 --> 01:10:36,231
THREE BEDROOMS AND TWO 

2151
01:10:36,231 --> 01:10:38,067
BATHROOMS. CURRENTLY, THE 

2152
01:10:38,067 --> 01:10:40,769
AFFORDABLE SALES PRICE FOR A 

2153
01:10:40,769 --> 01:10:43,439
THREE BEDROOM TOWNHOME IS 

2154
01:10:43,439 --> 01:10:45,808
$359,000. THE OTHER 19 UNITS IN 

2155
01:10:45,808 --> 01:10:48,577
THE PROJECT ARE LISTED AT 

2156
01:10:48,577 --> 01:10:51,947
BETWEEN 800 AND 49 K AND 

2157
01:10:51,947 --> 01:10:54,250
$979,000. OH, AND THE DEVELOPER 

2158
01:10:54,250 --> 01:10:55,985
WILL PARTNER WITH HABITAT FOR 

2159
01:10:55,985 --> 01:10:57,219
HUMANITY, WHO WILL SERVE AS A 

2160
01:10:57,219 --> 01:10:58,921
LONG TERM STEWARD AND IDENTIFY 

2161
01:10:58,921 --> 01:11:03,459
THE INCOME QUALIFIED FAMILIES 

2162
01:11:03,459 --> 01:11:04,059
WHO WILL ULTIMATELY PURCHASE 

2163
01:11:04,059 --> 01:11:05,561
THESE HOMES. THESE MHA 

2164
01:11:05,561 --> 01:11:06,295
PERFORMANCE UNITS WILL CREATE 

2165
01:11:06,295 --> 01:11:08,063
REAL ACCESS FOR FAMILIES THAT 

2166
01:11:08,063 --> 01:11:09,398
WOULD OTHERWISE HAVE BEEN PRICED

2167
01:11:09,398 --> 01:11:10,966
OUT OF THIS DEVELOPMENT. AND 

2168
01:11:10,966 --> 01:11:12,268
WITH THAT, I WILL TURN IT OVER 

2169
01:11:12,268 --> 01:11:15,204
TO MARIA TO TALK ABOUT SOME OF 

2170
01:11:15,204 --> 01:11:15,804
THE OTHER CREATIVE SOLUTIONS 

2171
01:11:15,804 --> 01:11:18,607
THAT OW HAS IMPLEMENTED. 

2172
01:11:18,607 --> 01:11:20,643
-- THANK YOU. MY NAME IS MARIA 

2173
01:11:20,643 --> 01:11:22,578
DEWEES. I'M A STRATEGIC ADVISOR

2174
01:11:22,578 --> 01:11:24,513
WITH THE POLICY TEAM AT OW. IN 

2175
01:11:24,513 --> 01:11:26,649
THIS SECTION, I'LL BE 

2176
01:11:26,649 --> 01:11:27,182
DISCUSSING SOME CREATIVE 

2177
01:11:27,182 --> 01:11:29,084
SOLUTIONS. OW! IMPLEMENTED IN 

2178
01:11:29,084 --> 01:11:33,455
2025 TO ADDRESS EMERGING 

2179
01:11:33,455 --> 01:11:34,223
CHALLENGES. LAST YEAR, THE 

2180
01:11:34,223 --> 01:11:36,125
ANNUAL NOFA INCLUDED A FUNDING 

2181
01:11:36,125 --> 01:11:38,761
CATEGORY FOR DEBT RESTRUCTURING 

2182
01:11:38,761 --> 01:11:41,497
ON PROPERTIES THAT WERE 

2183
01:11:41,497 --> 01:11:42,031
EXPERIENCING SIGNIFICANT 

2184
01:11:42,031 --> 01:11:44,199
PERFORMANCE CHALLENGES. THIS 

2185
01:11:44,199 --> 01:11:47,236
FUNDING HELPED NINE BUILDINGS TO

2186
01:11:47,236 --> 01:11:47,870
AVOID FORECLOSURE AND RESTORED 

2187
01:11:47,870 --> 01:11:49,438
LONG TERM POSITIVE PROPERTY, 

2188
01:11:49,438 --> 01:11:53,642
CASH FLOW. WE DID THIS BY PAYING

2189
01:11:53,642 --> 01:11:54,143
DOWN THE DEBT ON THESE 

2190
01:11:54,143 --> 01:11:54,777
BUILDINGS, AND BY DOING THAT, WE

2191
01:11:54,777 --> 01:11:58,213
WERE ABLE TO ADJUST THE RENTS 

2192
01:11:58,213 --> 01:12:00,382
DOWN TO MORE AFFORDABLE LEVELS 

2193
01:12:00,382 --> 01:12:00,849
TO SERVE LOWER INCOME 

2194
01:12:00,849 --> 01:12:02,518
HOUSEHOLDS. THIS WAS A WIN-WIN 

2195
01:12:02,518 --> 01:12:05,487
FOR BOTH THE PROPERTY OWNERS AND

2196
01:12:05,487 --> 01:12:06,722
THE RESIDENTS, AND ENSURES THAT 

2197
01:12:06,722 --> 01:12:08,557
WE CAN KEEP SERVING THOSE MOST 

2198
01:12:08,557 --> 01:12:10,092
IN NEED OF AFFORDABLE HOUSING. 

2199
01:12:10,092 --> 01:12:14,463
PEOPLE IN THE 30% AND 50% AMI 

2200
01:12:14,463 --> 01:12:16,632
LEVELS AND AT RENTS THAT THEY 

2201
01:12:16,632 --> 01:12:19,001
CAN AFFORD. WE ALSO UNDERWROTE 

2202
01:12:19,001 --> 01:12:20,569
TO RIGHTSIZE OPERATING COSTS TO 

2203
01:12:20,569 --> 01:12:21,236
REFLECT THE CURRENT COST, 

2204
01:12:21,236 --> 01:12:23,806
ENVIRONMENT AND REPLENISH 

2205
01:12:23,806 --> 01:12:26,675
BUILDING RESERVES. SOME 

2206
01:12:26,675 --> 01:12:27,209
PROPERTIES ALSO REQUIRED 

2207
01:12:27,209 --> 01:12:29,178
ADDITIONAL CAPACITY FROM A THIRD

2208
01:12:29,178 --> 01:12:31,714
PARTY CONSULTANT TO IMPROVE 

2209
01:12:31,714 --> 01:12:32,781
BUILDING PERFORMANCE, AND THIS 

2210
01:12:32,781 --> 01:12:35,517
WAS AN IMPORTANT AND NECESSARY 

2211
01:12:35,517 --> 01:12:36,418
STEP TO PRESERVE THE OFFICE OF 

2212
01:12:36,418 --> 01:12:40,089
HOUSING'S INVESTMENTS IN 

2213
01:12:40,089 --> 01:12:41,990
AFFORDABLE HOUSING. THE OFFICE 

2214
01:12:41,990 --> 01:12:43,926
OF HOUSING ALSO FUNDS OUR 

2215
01:12:43,926 --> 01:12:44,560
PARTNERS OPERATING MAINTENANCE 

2216
01:12:44,560 --> 01:12:46,795
AND SERVICES NEEDS. THE FIRST 

2217
01:12:46,795 --> 01:12:50,666
ITEM ON THE SLIDE HAS TO DO WITH

2218
01:12:50,666 --> 01:12:51,300
WORKFORCE STABILIZATION. THESE 

2219
01:12:51,300 --> 01:12:53,669
DOLLARS SUPPORT COMPENSATION FOR

2220
01:12:53,669 --> 01:12:56,105
STAFF WHO WORK AT PERMANENT 

2221
01:12:56,105 --> 01:12:58,440
SUPPORTIVE HOUSING PROPERTIES. 

2222
01:12:58,440 --> 01:13:01,110
IN 2025. THIS FUNDING SUPPORTED 

2223
01:13:01,110 --> 01:13:04,813
WAGES AND BENEFITS OF 936 PSH 

2224
01:13:04,813 --> 01:13:05,381
STAFF WORKING IN BUILDINGS 

2225
01:13:05,381 --> 01:13:07,216
THROUGHOUT SEATTLE AT 11 

2226
01:13:07,216 --> 01:13:10,185
DIFFERENT ORGANIZATIONS. THESE 

2227
01:13:10,185 --> 01:13:12,020
WORKERS ARE VITAL TO ENSURING 

2228
01:13:12,020 --> 01:13:13,389
RESIDENT WELL-BEING AND HOUSING 

2229
01:13:13,389 --> 01:13:15,791
STABILITY. THEY SERVE OUR 

2230
01:13:15,791 --> 01:13:17,593
VULNERABLE NEIGHBORS AND SUPPORT

2231
01:13:17,593 --> 01:13:20,195
SAFE COMMUNITIES THROUGH CASE 

2232
01:13:20,195 --> 01:13:20,829
MANAGEMENT, CONNECTING RESIDENTS

2233
01:13:20,829 --> 01:13:22,731
TO RESOURCES, AND ARE OFTEN ON 

2234
01:13:22,731 --> 01:13:26,235
CALL AT ALL HOURS. WE KNOW THESE

2235
01:13:26,235 --> 01:13:27,503
JOBS HAVE HAD HIGH TURNOVER, SO 

2236
01:13:27,503 --> 01:13:28,070
THE WORKFORCE STABILIZATION 

2237
01:13:28,070 --> 01:13:29,104
PROGRAM IS INTENDED TO ADDRESS 

2238
01:13:29,104 --> 01:13:33,275
THOSE STAFFING RETENTION 

2239
01:13:33,275 --> 01:13:34,109
CHALLENGES. THE OFFICE OF 

2240
01:13:34,109 --> 01:13:36,178
HOUSING HAS ALSO RESPONDED TO 

2241
01:13:36,178 --> 01:13:36,712
SECTOR WIDE CHALLENGES BY 

2242
01:13:36,712 --> 01:13:37,980
PROVIDING URGENT OPERATING 

2243
01:13:37,980 --> 01:13:40,382
SUPPORT. GRANTS CALLED US FOR 

2244
01:13:40,382 --> 01:13:42,184
SHORT AND TO OUR AFFORDABLE 

2245
01:13:42,184 --> 01:13:43,252
HOUSING PARTNERS TO FILL THE 

2246
01:13:43,252 --> 01:13:49,358
MOST CRITICAL OPERATING GAPS. IN

2247
01:13:49,358 --> 01:13:50,526
2025, O RELEASED 26.2 MILLION IN

2248
01:13:50,526 --> 01:13:52,561
FLEXIBLE FUNDING FOR THINGS LIKE

2249
01:13:52,561 --> 01:13:53,162
MAINTENANCE AND REPAIRS, RENT 

2250
01:13:53,162 --> 01:13:55,697
ASSISTANCE AND INSURANCE COSTS, 

2251
01:13:55,697 --> 01:13:57,166
AND O SKILLED AWARDS BASED ON 

2252
01:13:57,166 --> 01:13:59,701
THE HOUSING PROVIDERS PORTFOLIO 

2253
01:13:59,701 --> 01:14:01,470
SIZE, 22 ORGANIZATIONS WERE 

2254
01:14:01,470 --> 01:14:04,473
FUNDED WITH AN AVERAGE AWARD OF 

2255
01:14:04,473 --> 01:14:05,674
$1.2 MILLION. THE FUNDING CAN 

2256
01:14:05,674 --> 01:14:09,311
COVER EXPENSES BETWEEN JULY 2025

2257
01:14:09,311 --> 01:14:13,715
AND DECEMBER 2027. YOU CAN SEE 

2258
01:14:13,715 --> 01:14:15,784
ON THIS CHART THAT THE BULK OF 

2259
01:14:15,784 --> 01:14:16,852
US FUNDING WILL BE USED FOR 

2260
01:14:16,852 --> 01:14:19,288
MAINTENANCE, RENT ASSISTANCE, 

2261
01:14:19,288 --> 01:14:25,527
INSURANCE AND CAPITAL NEEDS. O 

2262
01:14:25,527 --> 01:14:26,128
ALSO RECENTLY RELEASED AN RFQ 

2263
01:14:26,128 --> 01:14:29,298
FOR CONSULTANT CONTRACTS FOR 

2264
01:14:29,298 --> 01:14:31,500
$1.7 MILLION TO FUND PORTFOLIO 

2265
01:14:31,500 --> 01:14:33,502
PRESERVATION PLANNING WORK. THIS

2266
01:14:33,502 --> 01:14:34,870
INITIATIVE IS INTENDED TO HELP 

2267
01:14:34,870 --> 01:14:36,205
US UNDERSTAND ONGOING NEEDS AND 

2268
01:14:36,205 --> 01:14:38,040
GAPS IN THE PORTFOLIO AND PLAN 

2269
01:14:38,040 --> 01:14:41,009
FOR FUTURE NEEDS. CONSULTANTS 

2270
01:14:41,009 --> 01:14:42,544
WILL HELP OUR HOUSING PARTNERS 

2271
01:14:42,544 --> 01:14:44,847
WITH TAILORED, INDIVIDUAL 

2272
01:14:44,847 --> 01:14:45,447
APPROACHES THAT ADDRESS THEIR 

2273
01:14:45,447 --> 01:14:47,583
UNIQUE ORGANIZATIONAL NEEDS AND 

2274
01:14:47,583 --> 01:14:48,917
CIRCUMSTANCES. THE CONSULTANT 

2275
01:14:48,917 --> 01:14:50,586
WORK IS EXPECTED TO BEGIN THIS 

2276
01:14:50,586 --> 01:14:52,554
FALL AND WINTER AND WILL 

2277
01:14:52,554 --> 01:14:54,456
CONTINUE THROUGH NEXT YEAR. 

2278
01:14:54,456 --> 01:14:56,825
LOOKING AHEAD, THE OFFICE OF 

2279
01:14:56,825 --> 01:14:59,695
HOUSING ALSO RELEASED OUR ANNUAL

2280
01:14:59,695 --> 01:15:00,295
NOFA OF AT LEAST $110 MILLION 

2281
01:15:00,295 --> 01:15:04,633
FOR THE RENTAL HOUSING PROGRAM. 

2282
01:15:04,633 --> 01:15:06,168
FUNDING IS AVAILABLE FOR THREE 

2283
01:15:06,168 --> 01:15:06,735
CATEGORIES NEW PRODUCTION, 

2284
01:15:06,735 --> 01:15:09,037
REHABILITATION AND ACQUISITION, 

2285
01:15:09,037 --> 01:15:09,605
AND WE ANTICIPATE RELEASING 

2286
01:15:09,605 --> 01:15:10,873
ANOTHER NOFA LATER THIS YEAR FOR

2287
01:15:10,873 --> 01:15:13,408
DEBT RESTRUCTURING AND 

2288
01:15:13,408 --> 01:15:15,544
PRESERVATION OF THE CURRENT 

2289
01:15:15,544 --> 01:15:16,678
PORTFOLIO. THANK YOU SO MUCH FOR

2290
01:15:16,678 --> 01:15:17,546
HOSTING THIS DISCUSSION TODAY, 

2291
01:15:17,546 --> 01:15:22,584
AND WE LOOK FORWARD TO ANSWERING

2292
01:15:22,584 --> 01:15:22,951
YOUR QUESTIONS. 

2293
01:15:22,951 --> 01:15:24,753
-- THANK YOU SO MUCH. WE REALLY 

2294
01:15:24,753 --> 01:15:26,121
APPRECIATE THE ENTIRE OFFICE OF 

2295
01:15:26,121 --> 01:15:26,922
HOUSING TEAM FOR ALL OF THE WORK

2296
01:15:26,922 --> 01:15:29,424
THAT YOU DO. I KNOW WE'VE GOT A

2297
01:15:29,424 --> 01:15:30,025
FANTASTIC GROUP OF FOLKS IN 

2298
01:15:30,025 --> 01:15:31,059
FRONT OF US, BUT I KNOW THERE'S

2299
01:15:31,059 --> 01:15:33,729
MANY MORE WHO WORKED ON THE WORK

2300
01:15:33,729 --> 01:15:34,229
OVER THE YEARS AND THE 

2301
01:15:34,229 --> 01:15:35,330
PRESENTATION. SO I JUST WANT TO 

2302
01:15:35,330 --> 01:15:38,000
EXPRESS MY GRATITUDE TO EACH OF 

2303
01:15:38,000 --> 01:15:39,201
YOU. AND I'M GOING TO START WITH

2304
01:15:39,201 --> 01:15:42,137
SOME QUESTIONS THAT I HAVE, AND 

2305
01:15:42,137 --> 01:15:42,804
THEN I'LL TURN TO MY COLLEAGUES

2306
01:15:42,804 --> 01:15:44,006
HERE ON COUNCIL, AND THEN I MAY 

2307
01:15:44,006 --> 01:15:45,073
COME BACK WITH A FEW MORE 

2308
01:15:45,073 --> 01:15:46,742
QUESTIONS HERE. AT THE END. I 

2309
01:15:46,742 --> 01:15:51,947
WANT TO START WITH SLIDE 11. IF 

2310
01:15:51,947 --> 01:15:53,515
YOU DON'T MIND. SO IT'S GREAT 

2311
01:15:53,515 --> 01:15:54,783
TO HEAR THAT OFFICE OF HOUSING 

2312
01:15:54,783 --> 01:15:56,818
IS ON TRACK. AND THAT'S HOW I 

2313
01:15:56,818 --> 01:15:59,688
TAKE SLIDE 11. WHEN I'M LOOKING

2314
01:15:59,688 --> 01:16:00,555
AT THE PERCENTAGE, LET ME WAIT 

2315
01:16:00,555 --> 01:16:01,790
TILL IT GETS PULLED UP HERE. 

2316
01:16:01,790 --> 01:16:05,727
THERE WE GO. GREAT. SO, YOU 

2317
01:16:05,727 --> 01:16:06,395
KNOW, IN THE FIRST TWO YEARS OF 

2318
01:16:06,395 --> 01:16:08,530
THE HOUSING LEVY FOR 2024 AND 

2319
01:16:08,530 --> 01:16:12,868
2025, BUILDING OR PRESERVING 47%

2320
01:16:12,868 --> 01:16:14,202
OF THE GOAL. BUT I ALSO AM 

2321
01:16:14,202 --> 01:16:16,572
CURIOUS, I KNOW IN PREVIOUS 

2322
01:16:16,572 --> 01:16:17,873
CONVERSATIONS THAT I'VE HAD WITH

2323
01:16:17,873 --> 01:16:19,508
O. H AND I THINK EARLIER THIS 

2324
01:16:19,508 --> 01:16:21,443
YEAR IN COMMITTEE, IT WAS MY 

2325
01:16:21,443 --> 01:16:22,911
UNDERSTANDING THAT WE WERE GOING

2326
01:16:22,911 --> 01:16:24,513
TO NEED WE WOULD POSSIBLY NEED 

2327
01:16:24,513 --> 01:16:29,017
UP TO $40 MILLION A YEAR IN IN P

2328
01:16:29,017 --> 01:16:31,920
T DOLLARS FOR US TO REACH OUR 

2329
01:16:31,920 --> 01:16:34,289
HOUSING LEVY GOALS. IS THAT 

2330
01:16:34,289 --> 01:16:40,729
STILL THE CASE 

2331
01:16:40,729 --> 01:16:41,797
-- WE ARE NOT QUITE READY TO 

2332
01:16:41,797 --> 01:16:43,198
ANSWER THAT QUESTION. WE STARTED

2333
01:16:43,198 --> 01:16:44,666
TO HAVE SOME CONVERSATION ON THE

2334
01:16:44,666 --> 01:16:46,201
TEAM ABOUT HOW WE CAN LOOK AT 

2335
01:16:46,201 --> 01:16:47,803
THE MODELING THAT WE DID, WHAT 

2336
01:16:47,803 --> 01:16:50,105
HAS OCCURRED IN YEARS ONE AND 

2337
01:16:50,105 --> 01:16:57,379
TWO OF THE HOUSING LEVY, WHAT WE

2338
01:16:57,379 --> 01:16:58,013
ANTICIPATE MIGHT BE AHEAD. THERE

2339
01:16:58,013 --> 01:16:58,647
ARE A FEW REASONS THAT THIS IS 

2340
01:16:58,647 --> 01:16:59,715
HAPPENING. IT WAS REALLY 

2341
01:16:59,715 --> 01:17:00,649
INTERESTING TO SEE, THANKS TO 

2342
01:17:00,649 --> 01:17:03,218
NATHAN'S WORK, THAT THIS 

2343
01:17:03,218 --> 01:17:04,653
TRAJECTORY OF SPENDING ON 

2344
01:17:04,653 --> 01:17:06,154
HOUSING LEVY IS VERY SIMILAR TO 

2345
01:17:06,154 --> 01:17:10,292
WHAT OCCURRED IN 2016. THE STAFF

2346
01:17:10,292 --> 01:17:12,861
TEAM IS VERY INTERESTED IN 

2347
01:17:12,861 --> 01:17:15,297
ACHIEVING GOALS, AND THEY OFTEN 

2348
01:17:15,297 --> 01:17:16,698
FRONT LOAD WORK AND INVESTMENTS.

2349
01:17:16,698 --> 01:17:18,367
IN THE EARLY PART OF THE HOUSING

2350
01:17:18,367 --> 01:17:22,070
LEVY CYCLE, BOTH BECAUSE YOU 

2351
01:17:22,070 --> 01:17:22,738
HAVE THAT GOAL IN MIND, YOU WANT

2352
01:17:22,738 --> 01:17:26,241
TO ACHIEVE THE GOAL ALSO BECAUSE

2353
01:17:26,241 --> 01:17:28,944
IT ONLY GETS MORE EXPENSIVE 

2354
01:17:28,944 --> 01:17:31,179
EVERY YEAR THEREAFTER. THE OTHER

2355
01:17:31,179 --> 01:17:32,247
PIECE AT PLAY HERE IS THAT AT 

2356
01:17:32,247 --> 01:17:34,182
LEAST ONE OF THE PROJECTS THAT 

2357
01:17:34,182 --> 01:17:36,518
WE FUNDED WITH THE HOUSING LEVY 

2358
01:17:36,518 --> 01:17:38,453
IS A PARTIAL AWARD. SO WE SORT 

2359
01:17:38,453 --> 01:17:41,289
OF COUNTED UNITS, BUT IT'S NOT 

2360
01:17:41,289 --> 01:17:42,724
FULLY FUNDED YET, AND IT WILL 

2361
01:17:42,724 --> 01:17:44,593
HOPEFULLY COME BACK THROUGH 

2362
01:17:44,593 --> 01:17:46,128
LATER, LATER IN THE CYCLE. IT'S

2363
01:17:46,128 --> 01:17:47,829
A SUPPORTIVE HOUSING PROJECT. SO

2364
01:17:47,829 --> 01:17:49,231
AGAIN, ONE OF THE PROJECTS 

2365
01:17:49,231 --> 01:17:50,766
THAT'S WAITING FOR OTHER 

2366
01:17:50,766 --> 01:17:51,366
RESOURCES TO COME THROUGH SO 

2367
01:17:51,366 --> 01:17:53,335
THAT IT CAN BECOME REAL, A 

2368
01:17:53,335 --> 01:17:57,105
REALITY. BUT WE DO HAVE OTHER 

2369
01:17:57,105 --> 01:17:58,507
MAJOR PROJECTS THAT ARE IN 

2370
01:17:58,507 --> 01:18:00,308
PROCESS. THE LAKE CITY COMMUNITY

2371
01:18:00,308 --> 01:18:01,743
CENTER, THE MOUNT BAKER 

2372
01:18:01,743 --> 01:18:02,310
REDEVELOPMENT, WHERE WE ARE 

2373
01:18:02,310 --> 01:18:04,079
WAITING TO SEE FUND ASSIGNMENTS.

2374
01:18:04,079 --> 01:18:06,581
AND THOSE ARE REALLY SIGNIFICANT

2375
01:18:06,581 --> 01:18:08,216
INVESTMENTS FOR OUR OFFICE THAT 

2376
01:18:08,216 --> 01:18:10,652
WILL LIKELY MAKE A DIFFERENCE IN

2377
01:18:10,652 --> 01:18:13,255
TERMS OF LEVY ALLOCATION, AS 

2378
01:18:13,255 --> 01:18:14,756
WELL AS PET UTILIZATION AND 

2379
01:18:14,756 --> 01:18:15,724
LEVERAGE OF OTHER SOURCES. SO 

2380
01:18:15,724 --> 01:18:16,658
WE'D LIKE TO COME BACK TO YOU 

2381
01:18:16,658 --> 01:18:19,528
ON THAT QUESTION. I'M NOT SURE 

2382
01:18:19,528 --> 01:18:22,030
WHEN WHEN WE'LL KNOW MORE, BUT 

2383
01:18:22,030 --> 01:18:22,964
WE'LL GET BACK TO THE TEAM AND 

2384
01:18:22,964 --> 01:18:27,235
COME BACK TO YOU ON THAT. WE 

2385
01:18:27,235 --> 01:18:29,304
ARE, I THINK, ALSO LOOKING AT WE

2386
01:18:29,304 --> 01:18:32,707
WANT TO BE MEASURING SEVERAL 

2387
01:18:32,707 --> 01:18:34,376
ASPECTS OF WHAT WE MODELED 

2388
01:18:34,376 --> 01:18:37,379
VERSUS WHAT IS ACTUALLY PLAYING 

2389
01:18:37,379 --> 01:18:40,949
OUT. SO UNIT TYPOLOGY, PROJECT 

2390
01:18:40,949 --> 01:18:42,751
TYPOLOGY PER UNIT COSTS, TOTAL 

2391
01:18:42,751 --> 01:18:44,252
DEVELOPMENT COSTS. SO THOSE ARE 

2392
01:18:44,252 --> 01:18:45,554
SOME OTHER THINGS THAT WE'RE 

2393
01:18:45,554 --> 01:18:48,490
HOPING TO LOOK AT AND BRING 

2394
01:18:48,490 --> 01:18:48,857
BACK. 

2395
01:18:48,857 --> 01:18:50,025
-- THANK YOU. THAT'S HELPFUL. I

2396
01:18:50,025 --> 01:18:51,726
LOOK FORWARD TO THAT. AND I 

2397
01:18:51,726 --> 01:18:52,561
THINK IT'S GOOD TO SEE YOU KNOW

2398
01:18:52,561 --> 01:18:55,430
AGAIN IT'S GOOD TO SEE THE THE 

2399
01:18:55,430 --> 01:18:56,898
4,047% UNIT GOAL PIECE THERE. 

2400
01:18:56,898 --> 01:18:57,799
AND I TOTALLY UNDERSTAND THE 

2401
01:18:57,799 --> 01:18:59,968
FRONT LOADING. WE SEE THAT 

2402
01:18:59,968 --> 01:19:01,503
ACROSS THE BOARD WITH OUR 

2403
01:19:01,503 --> 01:19:02,971
LEVIES. AND YOU KNOW, WE KNOW 

2404
01:19:02,971 --> 01:19:04,206
THAT COSTS HAVE BEEN RISING. SO 

2405
01:19:04,206 --> 01:19:04,840
I THINK THAT CERTAINLY MAKES A 

2406
01:19:04,840 --> 01:19:06,241
LOT OF SENSE. I DO WANT TO MAKE 

2407
01:19:06,241 --> 01:19:09,044
SURE THAT WE GET THAT FOLLOW UP 

2408
01:19:09,044 --> 01:19:10,445
INFORMATION AROUND THE LEVY 

2409
01:19:10,445 --> 01:19:11,880
GOALS AND THE DOLLARS, AND 

2410
01:19:11,880 --> 01:19:13,115
TOTALLY UNDERSTAND THINGS HAVE 

2411
01:19:13,115 --> 01:19:13,748
CONTINUED TO SHIFT. BUT I WANT 

2412
01:19:13,748 --> 01:19:16,985
TO MAKE SURE THAT WE ARE WE ARE 

2413
01:19:16,985 --> 01:19:18,653
TRACKING THAT. AND I WANT TO 

2414
01:19:18,653 --> 01:19:23,358
MAYBE I'LL TURN NOW TO SLIDE 

2415
01:19:23,358 --> 01:19:25,227
18. I THINK IT IS, AND JUST SAY,

2416
01:19:25,227 --> 01:19:26,761
I THINK THIS IS. WAIT TILL WE 

2417
01:19:26,761 --> 01:19:29,097
GET THERE MAYBE IT'S NOT THAT 

2418
01:19:29,097 --> 01:19:30,298
ONE. WELL, WE'LL USE THIS ONE, 

2419
01:19:30,298 --> 01:19:31,500
BUT I THINK WE HAD MAYBE ON A 

2420
01:19:31,500 --> 01:19:36,204
DIFFERENT SLIDE IN THE CORNER, A

2421
01:19:36,204 --> 01:19:39,841
NUMBER AROUND THE 2026 MH AYE 

2422
01:19:39,841 --> 01:19:41,576
PROJECTIONS. AND I I'VE LOST 

2423
01:19:41,576 --> 01:19:43,245
WHAT SLIDE THAT IS. BUT IT. 

2424
01:19:43,245 --> 01:19:44,713
SLIDE SIX. OKAY. SLIDE SIX HAS 

2425
01:19:44,713 --> 01:19:48,316
THAT. WE'RE PROJECTING 2026 MH 

2426
01:19:48,316 --> 01:19:51,419
AYE REVENUE AT 20 MILLION. AND 

2427
01:19:51,419 --> 01:19:53,288
WE KNOW THAT IN 2025 THAT 

2428
01:19:53,288 --> 01:19:55,323
REVENUE WAS 47 MILLION. AND SO I

2429
01:19:55,323 --> 01:19:55,957
JUST WANT TO MAKE SURE WE GET A 

2430
01:19:55,957 --> 01:19:58,293
LITTLE BIT MORE INFORMATION ON 

2431
01:19:58,293 --> 01:20:01,329
THAT STREAM. AND THE, YOU KNOW, 

2432
01:20:01,329 --> 01:20:02,664
IT'S MY UNDERSTANDING THAT THERE

2433
01:20:02,664 --> 01:20:03,165
WERE SOME PROJECTS THAT 

2434
01:20:03,165 --> 01:20:05,333
COMPLETED IN 2025. SO THAT MIGHT

2435
01:20:05,333 --> 01:20:07,469
HAVE BEEN MORE OF AN OUTLIER 

2436
01:20:07,469 --> 01:20:08,170
NUMBER, IF YOU CAN SPEAK TO 

2437
01:20:08,170 --> 01:20:10,338
THAT, I THINK THAT'D BE HELPFUL.

2438
01:20:10,338 --> 01:20:12,407
-- WE'VE TALKED ABOUT THE 

2439
01:20:12,407 --> 01:20:14,142
DIFFICULTY OF PROJECTING MH A AS

2440
01:20:14,142 --> 01:20:16,178
IT RELIES SO MUCH ON THE REAL 

2441
01:20:16,178 --> 01:20:20,048
ESTATE CYCLE. THAT IS ALSO 

2442
01:20:20,048 --> 01:20:22,217
DIFFICULT TO PREDICT. THERE HAVE

2443
01:20:22,217 --> 01:20:27,756
BEEN SOME CONVERSATIONS IN THE 

2444
01:20:27,756 --> 01:20:28,290
CITY BUDGET OFFICE AROUND 

2445
01:20:28,290 --> 01:20:30,859
IMPROVING OUR PREDICTIONS OF MH 

2446
01:20:30,859 --> 01:20:33,028
REVENUE AND THERE THEY'RE READY,

2447
01:20:33,028 --> 01:20:35,430
I THINK, FOR A LITTLE BIT MORE 

2448
01:20:35,430 --> 01:20:37,299
ACCURACY. BUT IT'S IT'S REALLY

2449
01:20:37,299 --> 01:20:40,635
DIFFICULT FOR US TO TO REALLY 

2450
01:20:40,635 --> 01:20:44,472
HIT THAT NUMBER, RIGHT. I THINK.

2451
01:20:44,472 --> 01:20:46,074
YEAH, YOU HEARD THE COMMENTER 

2452
01:20:46,074 --> 01:20:47,509
EARLIER TALKING ABOUT SOME OF 

2453
01:20:47,509 --> 01:20:50,078
THE LARGER PROJECTS THAT CAME 

2454
01:20:50,078 --> 01:20:52,514
THROUGH IN 2025 THAT CONTRIBUTED

2455
01:20:52,514 --> 01:20:55,450
THESE HIGHER PAYMENT AMOUNTS. 

2456
01:20:55,450 --> 01:20:56,117
AND THAT IS TRUE. THAT'S ALSO 

2457
01:20:56,117 --> 01:20:56,718
HAPPENED IN OTHER YEARS WHERE 

2458
01:20:56,718 --> 01:20:57,886
YOU'VE JUST, YOU KNOW, YOU'VE 

2459
01:20:57,886 --> 01:21:00,589
SEEN DIFFERENT TYPES OF 

2460
01:21:00,589 --> 01:21:01,223
DEVELOPMENT ACTIVITY THAT HAVE 

2461
01:21:01,223 --> 01:21:01,856
CONTRIBUTED HIGHER AMOUNTS OF MH

2462
01:21:01,856 --> 01:21:04,125
AYE SO THIS IS DIFFICULT. WE 

2463
01:21:04,125 --> 01:21:06,828
FEEL THIS IS A VERY CONSERVATIVE

2464
01:21:06,828 --> 01:21:07,762
PROJECTION. THIS IS THE 20 

2465
01:21:07,762 --> 01:21:10,165
MILLION IS WHERE WE LANDED FOR 

2466
01:21:10,165 --> 01:21:11,633
HOUSING LEVY MODELING AS WELL, 

2467
01:21:11,633 --> 01:21:14,269
TO ATTEMPT TO PROJECT OUR 

2468
01:21:14,269 --> 01:21:16,705
LEVERAGE OF OTHER CITY SOURCES. 

2469
01:21:16,705 --> 01:21:19,741
IT'S IT'S JUST CONSERVATIVE. 

2470
01:21:19,741 --> 01:21:22,544
AND I DON'T HAVE A BETTER 

2471
01:21:22,544 --> 01:21:23,712
ANSWER ON THAT AT THIS TIME. BUT

2472
01:21:23,712 --> 01:21:24,746
THE CITY BUDGET OFFICE IS AWARE 

2473
01:21:24,746 --> 01:21:26,881
OF THIS ISSUE, AND THEY'VE BEEN

2474
01:21:26,881 --> 01:21:28,683
THEY'VE BEEN TASKED WITH TRYING

2475
01:21:28,683 --> 01:21:32,187
TO IDENTIFY SOME BETTER METHOD 

2476
01:21:32,187 --> 01:21:33,355
METHODS TO PROJECT MH AYE. 

2477
01:21:33,355 --> 01:21:34,522
-- OKAY. I THINK THAT'S 

2478
01:21:34,522 --> 01:21:35,924
HELPFUL. AND THEN I THINK IT'S 

2479
01:21:35,924 --> 01:21:37,292
MY UNDERSTANDING, ARE WE AT 7 

2480
01:21:37,292 --> 01:21:38,827
MILLION IN THE DOOR THIS YEAR 

2481
01:21:38,827 --> 01:21:41,229
FOR MH AYE? 

2482
01:21:41,229 --> 01:21:44,599
-- SO THE LAST NUMBER I SAW WAS 

2483
01:21:44,599 --> 01:21:46,034
JUST OVER NINE. 

2484
01:21:46,034 --> 01:21:47,569
-- GOT IT. THANK YOU. I TRUST 

2485
01:21:47,569 --> 01:21:48,670
THAT YOUR NUMBERS ARE MORE 

2486
01:21:48,670 --> 01:21:50,005
RECENT THAN MINE. I THINK WE HAD

2487
01:21:50,005 --> 01:21:53,408
LOOKED AT THE MAYBE THE CLOSE OF

2488
01:21:53,408 --> 01:21:53,575
Q2. 

2489
01:21:53,575 --> 01:21:54,876
-- SO THAT'S RIGHT. IT'S ALWAYS

2490
01:21:54,876 --> 01:21:55,510
CHANGING. 

2491
01:21:55,510 --> 01:21:56,912
-- YEAH. THAT'S HELPFUL. 

2492
01:21:56,912 --> 01:21:57,946
-- AND IT MAY BE DIFFERENT THAN 

2493
01:21:57,946 --> 01:21:58,880
MINE NOW, BUT THAT'S THE LAST 

2494
01:21:58,880 --> 01:22:00,148
NUMBER I SAW, I BELIEVE. 

2495
01:22:00,148 --> 01:22:01,283
-- GOT IT. AND I THINK IT'S I 

2496
01:22:01,283 --> 01:22:04,519
ASK, I KNOW IT'S SOMETHING WE'VE

2497
01:22:04,519 --> 01:22:05,153
HAD CONVERSATIONS ABOUT IN THE 

2498
01:22:05,153 --> 01:22:06,121
PAST, AND I THINK IT'S ONE OF 

2499
01:22:06,121 --> 01:22:07,889
THE THINGS I JUST HAVE MY EYE ON

2500
01:22:07,889 --> 01:22:10,525
WITH SORT OF A CONCERN AROUND 

2501
01:22:10,525 --> 01:22:11,259
THE CHANGES IN THE MARKET AND 

2502
01:22:11,259 --> 01:22:13,828
THE WAY THAT THE CHANGES IN 

2503
01:22:13,828 --> 01:22:14,362
MARKET RATE HOUSING COULD 

2504
01:22:14,362 --> 01:22:15,664
POTENTIALLY IMPACT. MH AYE 

2505
01:22:15,664 --> 01:22:18,900
REVENUE, JUST AS IS SEEING THAT 

2506
01:22:18,900 --> 01:22:19,534
PERMITS ARE DOWN. AND WE HAVE A 

2507
01:22:19,534 --> 01:22:21,536
LOT OF WORK TO DO, I THINK, AS A

2508
01:22:21,536 --> 01:22:22,837
CITY TO MAKE SURE THAT WE ARE 

2509
01:22:22,837 --> 01:22:24,339
SUPPORTING OUR AFFORDABLE 

2510
01:22:24,339 --> 01:22:26,007
HOUSING WITH THE WORK THAT 

2511
01:22:26,007 --> 01:22:26,675
YOU'VE ALREADY OUTLINED TODAY, 

2512
01:22:26,675 --> 01:22:27,876
AND TO MAKE SURE THAT WE'RE 

2513
01:22:27,876 --> 01:22:28,944
CONTINUING TO GROW THE MARKET 

2514
01:22:28,944 --> 01:22:30,078
RATE PRODUCTION AND TO STRIKE 

2515
01:22:30,078 --> 01:22:31,446
THE RIGHT BALANCE FOR US AS A 

2516
01:22:31,446 --> 01:22:33,114
CITY. SO THAT'S CERTAINLY 

2517
01:22:33,114 --> 01:22:34,716
SOMETHING THAT OUR OFFICE 

2518
01:22:34,716 --> 01:22:37,819
CONTINUES TO BE INVESTED IN, AND

2519
01:22:37,819 --> 01:22:38,386
WE LOOK FORWARD TO ONGOING 

2520
01:22:38,386 --> 01:22:39,521
PARTNERSHIP WITH OFFICE OF 

2521
01:22:39,521 --> 01:22:44,359
HOUSING ON THAT WORK. I WANT TO 

2522
01:22:44,359 --> 01:22:45,126
TURN NOW TO THE I WANT TO SAY 

2523
01:22:45,126 --> 01:22:46,661
IT'S ONE OF YOUR LAST SLIDES 

2524
01:22:46,661 --> 01:22:48,129
AND COMMENTS AND COLLEAGUES. 

2525
01:22:48,129 --> 01:22:48,663
I'VE JUST GOT TWO MORE 

2526
01:22:48,663 --> 01:22:49,297
QUESTIONS, AND THEN I'LL BE 

2527
01:22:49,297 --> 01:22:51,900
TURNING TO YOU ALL. IF WE CAN GO

2528
01:22:51,900 --> 01:23:00,408
TO THE 2027 NOFA LET'S SEE HERE.

2529
01:23:00,408 --> 01:23:03,478
MAYBE IT'S THE LAST SLIDE. I 

2530
01:23:03,478 --> 01:23:04,579
THINK THIS IS WHERE WE WERE 

2531
01:23:04,579 --> 01:23:06,114
TALKING ABOUT THIS. MAYBE IT WAS

2532
01:23:06,114 --> 01:23:07,282
JUST IN YOUR COMMENTS AT THE 

2533
01:23:07,282 --> 01:23:09,551
END. YOU KNOW, I BELIEVE THAT 

2534
01:23:09,551 --> 01:23:11,019
THIS NOFA THAT'S OUT RIGHT NOW 

2535
01:23:11,019 --> 01:23:13,855
DOES NOT INCLUDE ANY PET 

2536
01:23:13,855 --> 01:23:15,256
DOLLARS. AND SO CAN YOU JUST 

2537
01:23:15,256 --> 01:23:17,859
SHARE MORE ABOUT AND I THINK YOU

2538
01:23:17,859 --> 01:23:18,727
MENTIONED THE PLANS FOR A SECOND

2539
01:23:18,727 --> 01:23:20,762
NOFA LATER ON IN THE YEAR. CAN 

2540
01:23:20,762 --> 01:23:22,397
YOU SHARE MORE ABOUT WHAT WE 

2541
01:23:22,397 --> 01:23:23,665
MIGHT ANTICIPATE TO SEE THERE 

2542
01:23:23,665 --> 01:23:24,599
AND HOW THAT REPRESENTS THE 

2543
01:23:24,599 --> 01:23:27,202
LEARNING THAT YOU'VE DONE OVER 

2544
01:23:27,202 --> 01:23:31,973
THE LAST YEAR WITH THE 

2545
01:23:31,973 --> 01:23:32,540
STABILIZATION INVESTMENTS? 

2546
01:23:32,540 --> 01:23:37,278
-- YES. SO WE'VE HAD THERE'S 

2547
01:23:37,278 --> 01:23:39,714
ALWAYS AND AS THESE ARE 

2548
01:23:39,714 --> 01:23:41,015
UNPRECEDENTED TIMES. THANK YOU, 

2549
01:23:41,015 --> 01:23:43,184
COUNCILMEMBER RINCK, THIS IS A 

2550
01:23:43,184 --> 01:23:45,253
VERY CHALLENGING YEAR FOR THE 

2551
01:23:45,253 --> 01:23:49,758
BUDGET AND DOING THE BEST WE CAN

2552
01:23:49,758 --> 01:23:52,994
TO PLAN FOR MITIGATING POTENTIAL

2553
01:23:52,994 --> 01:23:55,430
CUTS AND ALSO CONTINUING TO 

2554
01:23:55,430 --> 01:23:58,233
SUPPORT THE EXISTING PIPELINE 

2555
01:23:58,233 --> 01:23:59,267
AND INVESTMENTS THAT WE NEED TO 

2556
01:23:59,267 --> 01:24:01,002
MAKE NOW. SO I THINK IT'S A 

2557
01:24:01,002 --> 01:24:02,303
CONSTANT BATTLE TO STRIKE THE 

2558
01:24:02,303 --> 01:24:03,738
RIGHT BALANCE. THERE'S A 

2559
01:24:03,738 --> 01:24:05,840
SEQUENCING THAT HAPPENS WHERE WE

2560
01:24:05,840 --> 01:24:07,842
RELEASE OUR NOTICE OF FUNDING 

2561
01:24:07,842 --> 01:24:10,078
AVAILABILITY IN JUNE, AND WE 

2562
01:24:10,078 --> 01:24:12,113
HAVE TO MAKE OUR BEST ASSESSMENT

2563
01:24:12,113 --> 01:24:15,583
OF AVAILABLE FUNDS AT THAT TIME 

2564
01:24:15,583 --> 01:24:18,319
TO RELEASE PUBLICLY. SO WE 

2565
01:24:18,319 --> 01:24:20,688
RELEASED 110 MILLION IN JUNE 

2566
01:24:20,688 --> 01:24:22,190
THAT INCLUDED THE HOUSING LEVY 

2567
01:24:22,190 --> 01:24:26,661
AND SOME MH AYE FUNDS. WE'VE 

2568
01:24:26,661 --> 01:24:29,097
ALSO CLEARLY STATED THAT WE HAVE

2569
01:24:29,097 --> 01:24:30,565
26 MILLION OF JUMPSTART PET 

2570
01:24:30,565 --> 01:24:34,002
FUNDS THAT ARE IN A FEDERAL 

2571
01:24:34,002 --> 01:24:36,805
MITIGATION FUND, HOLD, AND WE 

2572
01:24:36,805 --> 01:24:39,073
HAVE $6 MILLION JUMPSTART, 

2573
01:24:39,073 --> 01:24:41,443
PAYROLL EXPENSE TAX, RENTAL 

2574
01:24:41,443 --> 01:24:44,045
ASSISTANCE OBLIGATION, AND $5 

2575
01:24:44,045 --> 01:24:45,713
MILLION JUMPSTART PAYROLL 

2576
01:24:45,713 --> 01:24:48,583
EXPENSE, TAX REPARATIONS, 

2577
01:24:48,583 --> 01:24:52,320
OBLIGATION. WE HAVE BEEN 

2578
01:24:52,320 --> 01:24:55,623
RELEASED 20 MILLION TO COMMIT TO

2579
01:24:55,623 --> 01:24:57,892
DEBT RESTRUCTURING AND OR THE 

2580
01:24:57,892 --> 01:24:59,761
CURRENT OPEN NOFA. SO THAT WILL 

2581
01:24:59,761 --> 01:25:01,529
BE WE'LL WE'LL SEE WHAT COMES 

2582
01:25:01,529 --> 01:25:05,834
IN WITH THIS CURRENT NOFA. AND 

2583
01:25:05,834 --> 01:25:07,235
THEN ADVERTISE THE PROPER AMOUNT

2584
01:25:07,235 --> 01:25:08,002
OF JUMPSTART PAYROLL EXPENSE TAX

2585
01:25:08,002 --> 01:25:10,839
AVAILABLE FOR THE DEBT 

2586
01:25:10,839 --> 01:25:11,473
RESTRUCTURING OFFERING A LITTLE 

2587
01:25:11,473 --> 01:25:13,775
BIT LATER IN THE FALL. 

2588
01:25:13,775 --> 01:25:14,542
-- THANK YOU FOR THAT. AND I 

2589
01:25:14,542 --> 01:25:15,643
JUST WANT TO MAKE SURE I GOT THE

2590
01:25:15,643 --> 01:25:17,212
COMMENT AT THE END. I THINK 

2591
01:25:17,212 --> 01:25:18,646
IT'S REALLY HELPFUL THAT THE 20

2592
01:25:18,646 --> 01:25:20,915
MILLION COULD GO EITHER TOWARDS 

2593
01:25:20,915 --> 01:25:23,084
THE EXISTING NOFA THAT'S OPEN 

2594
01:25:23,084 --> 01:25:24,552
RIGHT NOW BASED ON WHAT 

2595
01:25:24,552 --> 01:25:26,988
APPLICATIONS COME IN AND THE 

2596
01:25:26,988 --> 01:25:28,356
PROJECTS COMPETITIVENESS DEMAND.

2597
01:25:28,356 --> 01:25:30,758
OR IT COULD GO INTO THE DEBT 

2598
01:25:30,758 --> 01:25:32,260
RESTRUCTURING LATER ON THIS 

2599
01:25:32,260 --> 01:25:32,927
YEAR. THAT'S RIGHT. FANTASTIC. 

2600
01:25:32,927 --> 01:25:34,629
THANK YOU FOR THAT. I REALLY 

2601
01:25:34,629 --> 01:25:35,263
APPRECIATE THAT. AND COLLEAGUES,

2602
01:25:35,263 --> 01:25:43,004
I WILL TURN TO YOU FOR QUESTIONS

2603
01:25:43,004 --> 01:25:47,408
VICE CHAIR LYNN, YOU'RE 

2604
01:25:47,408 --> 01:25:47,709
RECOGNIZED. 

2605
01:25:47,709 --> 01:25:48,376
-- THANK YOU CHAIR. I'VE GOT A 

2606
01:25:48,376 --> 01:25:49,043
FEW QUESTIONS OF ONE, AND WE'VE

2607
01:25:49,043 --> 01:25:53,014
SPOKEN ABOUT THIS BEFORE IN 

2608
01:25:53,014 --> 01:25:54,382
TERMS OF OUR GOALS AND 

2609
01:25:54,382 --> 01:25:56,684
DESCRIBING THE GOALS IN TERMS OF

2610
01:25:56,684 --> 01:26:00,755
UNITS VERSUS LIKE PEOPLE OR 

2611
01:26:00,755 --> 01:26:02,257
BEDROOMS AND JUST WANTING TO, 

2612
01:26:02,257 --> 01:26:05,026
AGAIN, YOU KNOW, I'M EXCITED 

2613
01:26:05,026 --> 01:26:07,862
THAT THERE, YOU KNOW, HAS BEEN 

2614
01:26:07,862 --> 01:26:10,431
THIS ONGOING EFFORT TO HAVE 

2615
01:26:10,431 --> 01:26:13,668
LARGER FAMILY SIZED UNITS AND 

2616
01:26:13,668 --> 01:26:16,371
DON'T WANT SORT OF PREVIOUS 

2617
01:26:16,371 --> 01:26:19,674
SORT OF GOALS THAT WERE JUST 

2618
01:26:19,674 --> 01:26:20,308
BASED ON UNITS TO SORT OF HOLD 

2619
01:26:20,308 --> 01:26:24,579
UP THAT WORK OR, YOU KNOW, 

2620
01:26:24,579 --> 01:26:26,548
INADVERTENTLY FOR US TO BE SORT 

2621
01:26:26,548 --> 01:26:27,482
OF DINGED BY THE FACT THAT LIKE 

2622
01:26:27,482 --> 01:26:29,450
WE'RE SERVING MORE PEOPLE WITH 

2623
01:26:29,450 --> 01:26:31,686
LARGER UNITS, BUT IT'S, YOU 

2624
01:26:31,686 --> 01:26:32,787
KNOW, MAYBE LESS UNITS THAN A 

2625
01:26:32,787 --> 01:26:36,457
STUDIO. SO COULD YOU JUST TALK 

2626
01:26:36,457 --> 01:26:39,160
ABOUT THE LATEST OF ANY EFFORTS 

2627
01:26:39,160 --> 01:26:40,728
WITH OTHER FUNDING PARTNERS, 

2628
01:26:40,728 --> 01:26:46,601
STATE PARTNERS TO START TO 

2629
01:26:46,601 --> 01:26:47,936
TRANSITION? HOW WE TALK ABOUT 

2630
01:26:47,936 --> 01:26:50,471
OUR GOALS IS WHAT WOULD WE NEED 

2631
01:26:50,471 --> 01:26:57,145
TO DO TO START TO KIND OF HAVE 

2632
01:26:57,145 --> 01:26:59,380
A, A TRANSITION LIKE CALCULATOR 

2633
01:26:59,380 --> 01:27:00,048
THAT SHOWS HERE'S, HERE'S HOW 

2634
01:27:00,048 --> 01:27:01,749
MANY PEOPLE WE THOUGHT WE WERE 

2635
01:27:01,749 --> 01:27:03,217
GOING TO SERVE IN TERMS OF, YOU 

2636
01:27:03,217 --> 01:27:06,921
KNOW, 3100 UNITS, YOU KNOW, HOW 

2637
01:27:06,921 --> 01:27:08,022
HOW MANY WERE STUDIOS VERSUS, 

2638
01:27:08,022 --> 01:27:12,360
YOU KNOW, HOW MANY PEOPLE WE CAN

2639
01:27:12,360 --> 01:27:12,961
SERVE WITH MULTIFAMILY UNITS? 

2640
01:27:12,961 --> 01:27:15,396
AND IF THERE'S ANYTHING WE NEED

2641
01:27:15,396 --> 01:27:17,265
TO DO IN TERMS OF LIKE THE 

2642
01:27:17,265 --> 01:27:19,567
UPCOMING STATE LEGISLATIVE 

2643
01:27:19,567 --> 01:27:22,270
SESSION TO SORT OF HAVE 

2644
01:27:22,270 --> 01:27:25,273
SOMETHING IN SORT OF STATE 

2645
01:27:25,273 --> 01:27:27,275
PRIORITIES, TO ALSO KIND OF 

2646
01:27:27,275 --> 01:27:28,509
RECOGNIZE THAT, YOU KNOW, UNITS 

2647
01:27:28,509 --> 01:27:31,012
SORT OF INADVERTENTLY 

2648
01:27:31,012 --> 01:27:38,486
PRIORITIZES THESE STUDIOS 

2649
01:27:38,486 --> 01:27:38,953
-- WE HAVE HAD SOME 

2650
01:27:38,953 --> 01:27:42,123
CONVERSATIONS. IT'S, IT'S NOT A,

2651
01:27:42,123 --> 01:27:42,790
IT'S NOT AS CURRENT AS SOME OF 

2652
01:27:42,790 --> 01:27:44,058
OUR OTHER CONVERSATIONS, BUT WE 

2653
01:27:44,058 --> 01:27:46,127
HAVE SPOKEN WITH SOME OF OUR 

2654
01:27:46,127 --> 01:27:46,728
OTHER PUBLIC FUNDING PARTNERS 

2655
01:27:46,728 --> 01:27:50,698
ABOUT THIS CHALLENGE. AND YOU'LL

2656
01:27:50,698 --> 01:27:51,866
NOTE IN THE ACTUAL REPORT. SO 

2657
01:27:51,866 --> 01:27:53,768
THIS IS A HIGH LEVEL SUMMARY 

2658
01:27:53,768 --> 01:27:54,435
THAT'S BEEN PROVIDED. BUT IN 

2659
01:27:54,435 --> 01:27:56,771
THE REPORTS WE DO TALK ABOUT 

2660
01:27:56,771 --> 01:28:00,041
BEDROOMS FUNDED. CORRECT. NATHAN

2661
01:28:00,041 --> 01:28:00,775
-- POTENTIALLY HOW MANY PEOPLE 

2662
01:28:00,775 --> 01:28:04,612
COULD BE HOUSED. YES. 

2663
01:28:04,612 --> 01:28:05,213
-- SO THAT IS AN IMPROVEMENT 

2664
01:28:05,213 --> 01:28:07,448
THAT'S BEEN MADE. SO WE 

2665
01:28:07,448 --> 01:28:08,883
REPORTED THE BEDROOMS AS WELL AS

2666
01:28:08,883 --> 01:28:10,084
THE POTENTIAL NUMBER OF PEOPLE 

2667
01:28:10,084 --> 01:28:15,556
THAT CAN BE HOUSED WITH THESE 

2668
01:28:15,556 --> 01:28:16,157
RESOURCES. WE'RE TRYING TO 

2669
01:28:16,157 --> 01:28:19,293
BRIDGE. SO MOVING FROM A PURE 

2670
01:28:19,293 --> 01:28:22,730
ACCOUNTING OF UNITS TO MORE 

2671
01:28:22,730 --> 01:28:23,364
TALKING ABOUT THE ACTUAL PEOPLE 

2672
01:28:23,364 --> 01:28:26,701
LIVING IN THESE HOMES, AND 

2673
01:28:26,701 --> 01:28:27,335
PERHAPS THIS PRESENTATION WILL 

2674
01:28:27,335 --> 01:28:29,003
LOOK DIFFERENT NEXT YEAR. WHEN 

2675
01:28:29,003 --> 01:28:30,171
WE TALK ABOUT THE HIGH LEVEL, 

2676
01:28:30,171 --> 01:28:31,572
MAYBE THE NUMBERS WILL BE 

2677
01:28:31,572 --> 01:28:32,740
DIFFERENT. OUR COLLEAGUES AT 

2678
01:28:32,740 --> 01:28:35,209
KING COUNTY HAVE ALSO STARTED 

2679
01:28:35,209 --> 01:28:35,810
LOOKING AT THIS DIFFERENTLY, 

2680
01:28:35,810 --> 01:28:38,046
BECAUSE WHEN YOU DO A PER UNIT 

2681
01:28:38,046 --> 01:28:40,348
COST ON A THREE BEDROOM, IT'S 

2682
01:28:40,348 --> 01:28:41,949
VERY DIFFERENT THAN A PER UNIT 

2683
01:28:41,949 --> 01:28:43,718
COST ON A STUDIO. BUT WHEN WE 

2684
01:28:43,718 --> 01:28:44,886
TALK ABOUT IT PER BEDROOM, 

2685
01:28:44,886 --> 01:28:46,421
THAT'S REALLY DIFFERENT. AND SO

2686
01:28:46,421 --> 01:28:50,692
THERE ARE SMART FOLKS KIND OF 

2687
01:28:50,692 --> 01:28:52,560
UNCOVERING THESE THINGS BIT BY 

2688
01:28:52,560 --> 01:28:53,227
BIT. AND WE'RE ENGAGING WITH 

2689
01:28:53,227 --> 01:28:54,996
THEM IN A VARIETY OF DIFFERENT 

2690
01:28:54,996 --> 01:28:57,865
GROUPS. SO NATHAN PARTICIPATES 

2691
01:28:57,865 --> 01:28:59,067
IN A PUBLIC FUNDER DATA GROUP 

2692
01:28:59,067 --> 01:29:00,668
THAT'S BEEN TALKING ABOUT HOW 

2693
01:29:00,668 --> 01:29:05,506
TO IMPROVE DATA, HOW TO BE MORE 

2694
01:29:05,506 --> 01:29:06,140
STRATEGIC. THERE'S A LOT OF 

2695
01:29:06,140 --> 01:29:06,741
DIFFERENT CONVERSATIONS THAT 

2696
01:29:06,741 --> 01:29:09,210
THEY'VE HAD ON THIS TOPIC, BUT 

2697
01:29:09,210 --> 01:29:10,812
WE COULD DO MORE ABOUT HOW THIS 

2698
01:29:10,812 --> 01:29:12,113
PLAYS OUT INTENTIONALLY. I 

2699
01:29:12,113 --> 01:29:12,747
CAN'T THINK OFF THE TOP OF MY 

2700
01:29:12,747 --> 01:29:16,551
HEAD WITH THE STATE THINGS THAT 

2701
01:29:16,551 --> 01:29:19,554
COULD CHANGE, ALTHOUGH I'VE SEEN

2702
01:29:19,554 --> 01:29:20,354
SOME THINGS THAT HAVE CROPPED UP

2703
01:29:20,354 --> 01:29:21,389
OVER TIME WHERE THERE HAVE BEEN 

2704
01:29:21,389 --> 01:29:23,358
UNINTENTIONAL CONSEQUENCES, 

2705
01:29:23,358 --> 01:29:24,092
WHERE WE'VE WE'VE SET THRESHOLDS

2706
01:29:24,092 --> 01:29:28,196
BY UNIT NUMBERS. AND IF A 

2707
01:29:28,196 --> 01:29:29,464
PROJECT CHANGES TO BE THREE 

2708
01:29:29,464 --> 01:29:31,332
BEDROOMS, THEN IT FALLS BELOW 

2709
01:29:31,332 --> 01:29:33,101
THAT THRESHOLD AND CAN'T ACHIEVE

2710
01:29:33,101 --> 01:29:35,536
THE BENEFITS OF A STATE PROGRAM,

2711
01:29:35,536 --> 01:29:36,437
FOR EXAMPLE. SO THAT'S 

2712
01:29:36,437 --> 01:29:38,606
DEFINITELY ON FOLKS MINDS. THEY 

2713
01:29:38,606 --> 01:29:39,273
THEY ARE AWARE OF THE CHALLENGE.

2714
01:29:39,273 --> 01:29:41,142
I THINK FOLKS ARE INTERESTED IN 

2715
01:29:41,142 --> 01:29:43,144
TRYING TO MAKE THAT BETTER. BUT 

2716
01:29:43,144 --> 01:29:45,213
MORE TO MORE TO COME. THERE 

2717
01:29:45,213 --> 01:29:46,114
-- OKAY, GREAT. WELL, I JUST, 

2718
01:29:46,114 --> 01:29:48,216
YOU KNOW, IF THERE'S ANYTHING 

2719
01:29:48,216 --> 01:29:51,853
THAT WE CAN DO TO HELP SORT OF 

2720
01:29:51,853 --> 01:29:52,453
SUPPORT THAT TRANSITION WITH 

2721
01:29:52,453 --> 01:29:54,522
ANY, YOU KNOW, TALKING TO OUR 

2722
01:29:54,522 --> 01:29:56,724
COUNTY COLLEAGUES OR ANY OF OUR 

2723
01:29:56,724 --> 01:29:58,426
STATE COLLEAGUES CERTAINLY WOULD

2724
01:29:58,426 --> 01:30:02,029
BE HAPPY TO, TO SUPPORT THAT 

2725
01:30:02,029 --> 01:30:05,666
EFFORT. ANOTHER QUESTION. SO 

2726
01:30:05,666 --> 01:30:09,437
TALKING ABOUT SORT OF THE, THE, 

2727
01:30:09,437 --> 01:30:10,071
YOU KNOW, THE UP TO NEIGHBORHOOD

2728
01:30:10,071 --> 01:30:13,541
RESIDENTIAL, WHICH DOESN'T HAVE

2729
01:30:13,541 --> 01:30:15,209
A AND NOW, YOU KNOW, WE CAN 

2730
01:30:15,209 --> 01:30:18,179
BUILDERS CAN BUILD VERY SIMILAR.

2731
01:30:18,179 --> 01:30:20,248
SIMILARLY, IN TERMS OF WHAT 

2732
01:30:20,248 --> 01:30:21,616
THEY'RE ALLOWED TO DO AND IN 

2733
01:30:21,616 --> 01:30:23,851
OUR VERSUS SOME OF OUR LR, 

2734
01:30:23,851 --> 01:30:31,325
ESPECIALLY LIKE LR ONE. JUST 

2735
01:30:31,325 --> 01:30:31,959
WONDERING IF WHAT, IF ANYTHING, 

2736
01:30:31,959 --> 01:30:33,594
YOU'RE HEARING FROM KIND OF 

2737
01:30:33,594 --> 01:30:37,532
MARKET RATE DEVELOPERS OR I'M 

2738
01:30:37,532 --> 01:30:38,900
WONDERING, YOU KNOW, IF WE 

2739
01:30:38,900 --> 01:30:40,835
COULD, IF YOU'VE HEARD ANYTHING

2740
01:30:40,835 --> 01:30:42,270
FROM LIKE SDCI FROM THE 

2741
01:30:42,270 --> 01:30:44,138
PERMITTING DATA, IF THEY'VE 

2742
01:30:44,138 --> 01:30:46,774
STARTED TO NOTICE A SHIFT YET OR

2743
01:30:46,774 --> 01:30:50,912
JUST WANT TO KEEP AN EYE ON 

2744
01:30:50,912 --> 01:30:52,447
THAT. AND SO, YOU KNOW, 

2745
01:30:52,447 --> 01:30:53,981
CERTAINLY COULD ASK SDCI, BUT 

2746
01:30:53,981 --> 01:30:55,783
JUST WONDERING IF YOU'VE HEARD 

2747
01:30:55,783 --> 01:30:57,452
ANYTHING. 

2748
01:30:57,452 --> 01:30:58,152
-- I THINK FROM THE 

2749
01:30:58,152 --> 01:30:58,786
CONVERSATIONS WE'VE HAD THIS 

2750
01:30:58,786 --> 01:31:01,989
YEAR, MANY OF US WERE SAYING, 

2751
01:31:01,989 --> 01:31:03,958
LET'S SEE WHAT HAPPENS IN 2026 

2752
01:31:03,958 --> 01:31:06,294
FOR SURE. AND THEN PERHAPS INTO 

2753
01:31:06,294 --> 01:31:10,231
2027, AND KEEP CLOSE TABS ON IT.

2754
01:31:10,231 --> 01:31:11,599
I THINK SIMILAR TO WHAT WE 

2755
01:31:11,599 --> 01:31:13,134
TALKED ABOUT WITH AFFORDABLE 

2756
01:31:13,134 --> 01:31:13,768
HOUSING PROVIDERS, YOU HAVE A 

2757
01:31:13,768 --> 01:31:14,869
LOT OF SITES THAT ARE IN PLAY 

2758
01:31:14,869 --> 01:31:17,772
AND UNDERWAY, AND ALL DEVELOPERS

2759
01:31:17,772 --> 01:31:20,341
ARE PIPELINE PLANNING. AND NOW 

2760
01:31:20,341 --> 01:31:22,243
STARTING TO REACT TO DIFFERENT 

2761
01:31:22,243 --> 01:31:23,511
CHANGES THAT THE CITY HAS MADE. 

2762
01:31:23,511 --> 01:31:24,812
SO IT SEEMS LIKE WE'LL START TO

2763
01:31:24,812 --> 01:31:26,013
SEE THAT SOMETIME IN THE NEXT 

2764
01:31:26,013 --> 01:31:27,582
YEAR. BUT THAT'S A GOOD A GOOD 

2765
01:31:27,582 --> 01:31:32,687
ONE TO WATCH. YEAH. 

2766
01:31:32,687 --> 01:31:33,821
-- AND THEN I'M GOING TO ASK 

2767
01:31:33,821 --> 01:31:38,125
SORT OF A BIGGER KIND OF PICTURE

2768
01:31:38,125 --> 01:31:39,894
QUESTION JUST ABOUT KIND OF THE 

2769
01:31:39,894 --> 01:31:43,497
HOUSING MARKET IN GENERAL. I 

2770
01:31:43,497 --> 01:31:48,603
THINK WE'VE SEEN RENTS FLATTEN,

2771
01:31:48,603 --> 01:31:49,770
WHICH IS GREAT. MAYBE EVEN GOING

2772
01:31:49,770 --> 01:31:53,941
DOWN A LITTLE BIT. YOU KNOW, 

2773
01:31:53,941 --> 01:31:55,676
WE'VE SEEN JOB LOSSES, WHICH I 

2774
01:31:55,676 --> 01:31:56,944
THINK IS, YOU KNOW, RELIEVING 

2775
01:31:56,944 --> 01:32:01,182
SOME OF THAT PRESSURE ON OUR 

2776
01:32:01,182 --> 01:32:02,049
HOUSING MARKET. SO, YOU KNOW, 

2777
01:32:02,049 --> 01:32:03,718
IT'S NOT GREAT TO HAVE JOB 

2778
01:32:03,718 --> 01:32:05,887
LOSSES, BUT, YOU KNOW, THE 

2779
01:32:05,887 --> 01:32:08,990
SILVER LINING IS MAYBE A LITTLE 

2780
01:32:08,990 --> 01:32:12,159
BIT LESS PRESSURE ON RENTS YOU 

2781
01:32:12,159 --> 01:32:13,561
KNOW, AND I GUESS I JUST, YOU 

2782
01:32:13,561 --> 01:32:17,031
KNOW, I THINK AS WE LOOK TO SORT

2783
01:32:17,031 --> 01:32:20,368
OF, YOU KNOW, THE SORT OF LONGER

2784
01:32:20,368 --> 01:32:21,969
PIPELINE, I THINK IT'S IMPORTANT

2785
01:32:21,969 --> 01:32:23,237
FOR US TO KEEP IN MIND SORT OF 

2786
01:32:23,237 --> 01:32:24,839
WHAT'S HAPPENING IN, IN SORT OF

2787
01:32:24,839 --> 01:32:26,307
THE MARKET RATE SIDE OF THINGS, 

2788
01:32:26,307 --> 01:32:27,875
JUST BECAUSE IT CAN REALLY 

2789
01:32:27,875 --> 01:32:29,844
INFLUENCE WHETHER IT'S THINGS 

2790
01:32:29,844 --> 01:32:32,280
LIKE IMAGE PAYMENTS OR JUST 

2791
01:32:32,280 --> 01:32:34,615
THINGS LIKE COMPETITION. I MEAN,

2792
01:32:34,615 --> 01:32:36,417
ESPECIALLY AT THE 60%. YOU KNOW,

2793
01:32:36,417 --> 01:32:42,456
STUDIO LEVEL BUT AND ALSO THEY 

2794
01:32:42,456 --> 01:32:45,560
SAY JUST A LITTLE BIT CONCERNED 

2795
01:32:45,560 --> 01:32:46,494
ABOUT A POTENTIAL DOWNTURN IN 

2796
01:32:46,494 --> 01:32:48,496
THE ECONOMY AND WHAT THAT COULD 

2797
01:32:48,496 --> 01:32:50,898
LOOK LIKE FOR OUR HOUSING 

2798
01:32:50,898 --> 01:32:51,966
MARKET. AND THAT'S HARD TO 

2799
01:32:51,966 --> 01:32:54,402
PREDICT. JUST KIND OF THINKING 

2800
01:32:54,402 --> 01:32:55,369
BACK TO WHAT HAPPENED, YOU KNOW,

2801
01:32:55,369 --> 01:33:00,041
IN 2008. BUT SO THIS IS A, YOU 

2802
01:33:00,041 --> 01:33:02,276
KNOW, AND WE CAN TAKE THIS 

2803
01:33:02,276 --> 01:33:03,678
OFFLINE AND ASK TO TALK MORE 

2804
01:33:03,678 --> 01:33:05,846
LATER. BUT I'M JUST WONDERING 

2805
01:33:05,846 --> 01:33:12,420
HOW MUCH YOU KNOW, YOU'VE ARE 

2806
01:33:12,420 --> 01:33:13,888
SORT OF HEARING FROM SORT OF 

2807
01:33:13,888 --> 01:33:14,789
MARKET RATE PARTICIPANTS. 

2808
01:33:14,789 --> 01:33:17,024
OBVIOUSLY, WE'VE BEEN HEARING A

2809
01:33:17,024 --> 01:33:19,894
LOT ABOUT, YOU KNOW, THE PERMITS

2810
01:33:19,894 --> 01:33:20,695
BEING DOWN AND THE DIFFICULTIES 

2811
01:33:20,695 --> 01:33:25,833
OF BUILDING. AND I DO THINK 

2812
01:33:25,833 --> 01:33:27,768
PARTIALLY IN MY MIND, IT'S THE 

2813
01:33:27,768 --> 01:33:30,705
COST TO BUILD. BUT I ALSO THINK 

2814
01:33:30,705 --> 01:33:33,174
PARTIALLY WHAT IS HOLDING BACK 

2815
01:33:33,174 --> 01:33:34,375
DEVELOPERS IS SORT OF THE 

2816
01:33:34,375 --> 01:33:35,977
UNCERTAINTY IN THE ECONOMY, THE 

2817
01:33:35,977 --> 01:33:37,545
UNCERTAINTY IN THE JOB MARKET. 

2818
01:33:37,545 --> 01:33:40,147
YOU KNOW, I THINK WHEN AMAZON 

2819
01:33:40,147 --> 01:33:43,584
WAS JUST HIRING AND PEOPLE KNEW 

2820
01:33:43,584 --> 01:33:44,552
RENTS WERE GOING TO CONTINUE TO 

2821
01:33:44,552 --> 01:33:49,423
CLIMB, IT WAS SORT OF EASY TO 

2822
01:33:49,423 --> 01:33:50,024
BAKE THAT INTO YOUR PRO FORMA 

2823
01:33:50,024 --> 01:33:50,658
AND BE CONFIDENT THAT LIKE, HEY,

2824
01:33:50,658 --> 01:33:51,626
IT'S EXPENSIVE TO BUILD, BUT WE

2825
01:33:51,626 --> 01:33:52,760
KNOW THAT WE'RE GOING TO BE 

2826
01:33:52,760 --> 01:33:55,196
ABLE TO, TO LEASE UP BECAUSE SO 

2827
01:33:55,196 --> 01:33:56,197
MANY PEOPLE ARE MOVING HERE. I 

2828
01:33:56,197 --> 01:33:58,199
THINK IT'S A DIFFICULT TIME 

2829
01:33:58,199 --> 01:33:59,634
RIGHT NOW WITH THE THE ECONOMIC 

2830
01:33:59,634 --> 01:34:00,601
UNCERTAINTY. AND AGAIN, THE JOB 

2831
01:34:00,601 --> 01:34:05,139
MARKET FOR, FOR DEVELOPERS TO TO

2832
01:34:05,139 --> 01:34:06,841
BE CONFIDENT. AND SO AGAIN, SORT

2833
01:34:06,841 --> 01:34:11,579
OF JUST. BIG PICTURE, I GUESS 

2834
01:34:11,579 --> 01:34:14,582
I'LL JUST SORT OF MAKE ONE LAST

2835
01:34:14,582 --> 01:34:17,184
SORT OF COMMENT AND SORT OF 

2836
01:34:17,184 --> 01:34:19,920
OBSERVATION, WHICH IS WE'VE 

2837
01:34:19,920 --> 01:34:20,554
INCREASED OUR AFFORDABLE HOUSING

2838
01:34:20,554 --> 01:34:22,289
INVESTMENTS SO SIGNIFICANTLY 

2839
01:34:22,289 --> 01:34:23,124
OVER THE PAST FEW YEARS, WHICH 

2840
01:34:23,124 --> 01:34:27,728
IS WONDERFUL. AND I THINK WE'RE

2841
01:34:27,728 --> 01:34:29,497
FINALLY, YOU KNOW, I THINK 

2842
01:34:29,497 --> 01:34:31,565
BECAUSE OF HOW LONG IT TAKES TO 

2843
01:34:31,565 --> 01:34:32,500
BUILD HOUSING, YOU KNOW, WE 

2844
01:34:32,500 --> 01:34:36,504
DIDN'T SORT OF FEEL THAT IMPACT

2845
01:34:36,504 --> 01:34:38,005
IMMEDIATELY. BUT I'M HOPING IN 

2846
01:34:38,005 --> 01:34:40,207
THE NEXT, YOU KNOW, COMING 

2847
01:34:40,207 --> 01:34:42,243
COUPLE OF YEARS THAT WE WILL 

2848
01:34:42,243 --> 01:34:45,112
START TO FEEL THE IMPACT OF 

2849
01:34:45,112 --> 01:34:47,982
THESE SIGNIFICANT INCREASES IN 

2850
01:34:47,982 --> 01:34:48,949
OUR INVESTMENTS. AND AT THE SAME

2851
01:34:48,949 --> 01:34:50,151
TIME, THERE'S SORT OF THIS LESS

2852
01:34:50,151 --> 01:34:54,155
PRESSURE FROM THE ECONOMY. BUT 

2853
01:34:54,155 --> 01:34:57,692
ANYWAY, JUST ANY SORT OF 

2854
01:34:57,692 --> 01:34:58,292
OBSERVATIONS ABOUT IN GENERAL 

2855
01:34:58,292 --> 01:35:01,395
WHAT'S HAPPENING IN OUR HOUSING

2856
01:35:01,395 --> 01:35:04,098
MARKET OR OUR ECONOMY OR SORT OF

2857
01:35:04,098 --> 01:35:04,732
HOW THAT MIGHT INFLUENCE SOME OF

2858
01:35:04,732 --> 01:35:08,569
YOUR THINKING OR SOME OF OUR 

2859
01:35:08,569 --> 01:35:12,273
INVESTMENTS. 

2860
01:35:12,273 --> 01:35:13,707
-- THE THE ONE ITEM YOU DIDN'T 

2861
01:35:13,707 --> 01:35:16,577
MENTION IS VACANCY. AND IN THE 

2862
01:35:16,577 --> 01:35:17,611
CITY RIGHT NOW, THE LAST 

2863
01:35:17,611 --> 01:35:19,880
MEASURE, WE HAVE CITYWIDE 

2864
01:35:19,880 --> 01:35:21,148
VACANCY IS AROUND 6%. THERE'S A

2865
01:35:21,148 --> 01:35:22,850
LOT OF HIGH COST HOUSING MARKETS

2866
01:35:22,850 --> 01:35:26,320
THAT ARE VERY JEALOUS OF THAT. 

2867
01:35:26,320 --> 01:35:26,987
IT'S ALSO A MEASURE OF SORT OF 

2868
01:35:26,987 --> 01:35:29,423
WHAT'S HAPPENING IN OUR MARKET.

2869
01:35:29,423 --> 01:35:32,293
THERE'S BEEN A VERY SIGNIFICANT

2870
01:35:32,293 --> 01:35:34,729
BUILDING BOOM OF A SIMILAR 

2871
01:35:34,729 --> 01:35:37,965
TYPOLOGY OF APARTMENT AND WE ARE

2872
01:35:37,965 --> 01:35:42,470
AT THE OFFICE TRYING TO REACT TO

2873
01:35:42,470 --> 01:35:42,670
THAT. 

2874
01:35:42,670 --> 01:35:44,138
-- SO CAN I JUST MAKE SURE I 

2875
01:35:44,138 --> 01:35:45,172
UNDERSTAND? SO THE 6% IS A 

2876
01:35:45,172 --> 01:35:47,308
LITTLE BIT HIGHER THAN THESE 

2877
01:35:47,308 --> 01:35:52,379
OTHER HIGH COST AREAS. AND THAT 

2878
01:35:52,379 --> 01:35:53,314
IS SORT OF A GOOD THING TO A 

2879
01:35:53,314 --> 01:35:54,748
CERTAIN DEGREE FOR RENTERS, 

2880
01:35:54,748 --> 01:35:57,685
BECAUSE IT MEANS THERE'S, YOU 

2881
01:35:57,685 --> 01:35:58,686
KNOW, SOME SUPPLY THERE AND A 

2882
01:35:58,686 --> 01:36:00,955
LITTLE BIT HELPS WITH THE RENTS.

2883
01:36:00,955 --> 01:36:02,356
IS THAT KIND OF CORRECT? 

2884
01:36:02,356 --> 01:36:03,757
-- OKAY. RIGHT. SO THERE'S A 

2885
01:36:03,757 --> 01:36:05,426
LITTLE BIT MORE CHOICE FOR 

2886
01:36:05,426 --> 01:36:06,527
RENTERS ON THE MARKET RIGHT NOW.

2887
01:36:06,527 --> 01:36:08,095
AND EVEN THOUGH WE HEAR FROM 

2888
01:36:08,095 --> 01:36:10,498
RENTERS, IT DOESN'T FEEL LIKE 

2889
01:36:10,498 --> 01:36:11,899
THERE'S A LOT OF CHOICE AND IT 

2890
01:36:11,899 --> 01:36:12,967
DOESN'T FEEL LIKE IT'S 

2891
01:36:12,967 --> 01:36:14,001
AFFORDABLE OR ACCESSIBLE TO 

2892
01:36:14,001 --> 01:36:15,903
THEM. SO I DO WANT TO SAY THAT 

2893
01:36:15,903 --> 01:36:17,738
BY THE NUMBERS THAT WE SEE ON 

2894
01:36:17,738 --> 01:36:21,809
THESE REPORTS, THERE ARE 6% ARE 

2895
01:36:21,809 --> 01:36:23,711
VACANT IN THE CITY. AND I THINK 

2896
01:36:23,711 --> 01:36:25,846
THE OTHER PART OF THAT IS THAT 

2897
01:36:25,846 --> 01:36:27,782
GENERALLY INVESTMENT SEEKS A 

2898
01:36:27,782 --> 01:36:30,317
RISING MARKET. AND PERHAPS WE 

2899
01:36:30,317 --> 01:36:35,156
ARE NOT THERE TODAY IN SEATTLE. 

2900
01:36:35,156 --> 01:36:36,490
SO THAT'S SOMETHING TO BE 

2901
01:36:36,490 --> 01:36:37,825
WATCHING. THERE ARE OTHER 

2902
01:36:37,825 --> 01:36:39,493
FACTORS AT PLAY AS WELL. I WAS 

2903
01:36:39,493 --> 01:36:41,028
JUST HEARING FROM SOMEBODY WHO 

2904
01:36:41,028 --> 01:36:43,464
HAD A CONVERSATION ABOUT HOW 

2905
01:36:43,464 --> 01:36:45,866
CHALLENGING INSURANCE IS, AND 

2906
01:36:45,866 --> 01:36:48,335
THAT SEATTLE IN PARTICULAR, IS 

2907
01:36:48,335 --> 01:36:48,869
FACING CHALLENGES AROUND 

2908
01:36:48,869 --> 01:36:53,374
INSURANCE BECAUSE OF PERCEPTION.

2909
01:36:53,374 --> 01:36:55,743
REAL, PERCEIVED, ALL THESE 

2910
01:36:55,743 --> 01:36:56,443
THINGS. SO THERE'S, THERE'S A 

2911
01:36:56,443 --> 01:36:58,312
LOT THAT PLAYS INTO THOSE TYPES 

2912
01:36:58,312 --> 01:37:01,315
OF DECISIONS AROUND RISK 

2913
01:37:01,315 --> 01:37:03,617
TOLERANCE FOR INSURERS AND 

2914
01:37:03,617 --> 01:37:05,553
INVESTORS. AND IT'S HARD TO PUT

2915
01:37:05,553 --> 01:37:07,822
YOUR FINGER ON EXACTLY THE THING

2916
01:37:07,822 --> 01:37:08,789
THAT IS GOING TO MAKE THE 

2917
01:37:08,789 --> 01:37:10,791
DIFFERENCE, RIGHT. FOR US, WHAT 

2918
01:37:10,791 --> 01:37:13,060
WE CONTROL THE OFFICE OF HOUSING

2919
01:37:13,060 --> 01:37:15,462
IS THE WAY THAT WE SPEND OUR 

2920
01:37:15,462 --> 01:37:18,199
FUNDS. AND SO THIS IS WHAT WE'RE

2921
01:37:18,199 --> 01:37:20,000
TALKING ABOUT WITH OUR TEAM TO 

2922
01:37:20,000 --> 01:37:24,505
ENSURE THAT WE ARE INVESTING IN 

2923
01:37:24,505 --> 01:37:26,440
AFFORDABLE HOUSING THAT IS TRULY

2924
01:37:26,440 --> 01:37:28,876
BELOW MARKET AND THAT WILL 

2925
01:37:28,876 --> 01:37:29,777
COMPETE IN THIS CURRENT TIME 

2926
01:37:29,777 --> 01:37:31,312
THAT WE'RE IN WHERE WE HAVE 6% 

2927
01:37:31,312 --> 01:37:33,113
VACANCY. WE HAVE A SIGNIFICANT 

2928
01:37:33,113 --> 01:37:36,417
NUMBER OF 60% STUDIOS THAT ARE 

2929
01:37:36,417 --> 01:37:38,452
OPEN AND WAITING FOR TENANTS. SO

2930
01:37:38,452 --> 01:37:41,689
WE WANT TO SEE MUCH LOWER 

2931
01:37:41,689 --> 01:37:43,057
AFFORDABILITY LEVELS BELOW 50. 

2932
01:37:43,057 --> 01:37:45,693
AM I BELOW 40? AM I BELOW 30? AM

2933
01:37:45,693 --> 01:37:47,494
I? THAT REQUIRES DEEPER 

2934
01:37:47,494 --> 01:37:49,296
INVESTMENT FROM US UPFRONT 

2935
01:37:49,296 --> 01:37:51,632
CAPITAL. IT MAY REQUIRE 

2936
01:37:51,632 --> 01:37:52,199
OPERATING THAT WE DIDN'T 

2937
01:37:52,199 --> 01:37:55,236
NECESSARILY PLAN FOR. AND THEN 

2938
01:37:55,236 --> 01:37:56,837
ALSO FAMILY SIZED HOMES, MORE 

2939
01:37:56,837 --> 01:37:58,339
COMPETITION FOR FAMILY SIZED 

2940
01:37:58,339 --> 01:37:59,807
HOMES AT LOWER INCOME LEVELS. 

2941
01:37:59,807 --> 01:38:01,242
THAT'S ALWAYS NEEDED. WE'VE 

2942
01:38:01,242 --> 01:38:02,643
HEARD TIME AND AGAIN THAT OUR 

2943
01:38:02,643 --> 01:38:04,812
DEVELOPERS THAT BUILD THOSE YOU 

2944
01:38:04,812 --> 01:38:05,679
THOSE BUILDINGS, THE FAMILY 

2945
01:38:05,679 --> 01:38:07,481
SIZED HOMES AND THE LOWER INCOME

2946
01:38:07,481 --> 01:38:10,918
UNITS GO FAST. AND THESE OTHER 

2947
01:38:10,918 --> 01:38:11,518
TYPOLOGIES, STUDIOS AT HIGHER 

2948
01:38:11,518 --> 01:38:13,520
INCOME LEVELS ARE NOT RENTING UP

2949
01:38:13,520 --> 01:38:15,389
AS QUICKLY. NOW, IT DEPENDS ON 

2950
01:38:15,389 --> 01:38:17,024
NEIGHBORHOOD. THERE ARE A LOT OF

2951
01:38:17,024 --> 01:38:18,525
OTHER FACTORS AT PLAY, BUT THIS 

2952
01:38:18,525 --> 01:38:19,460
IS WHAT WE'RE LOOKING AT. WHAT 

2953
01:38:19,460 --> 01:38:20,628
ARE THE THINGS THAT WE CAN 

2954
01:38:20,628 --> 01:38:22,696
CONTROL TO RESPOND TO THESE 

2955
01:38:22,696 --> 01:38:23,330
MARKET CONDITIONS THAT WE'RE 

2956
01:38:23,330 --> 01:38:24,265
IN? AND WE'RE LOOKING AT AS 

2957
01:38:24,265 --> 01:38:25,466
MUCH DATA AS WE CAN, TRYING TO 

2958
01:38:25,466 --> 01:38:28,435
BE BETTER ABOUT THAT. IT'S 

2959
01:38:28,435 --> 01:38:29,103
WE'VE IMPROVED SIGNIFICANTLY, 

2960
01:38:29,103 --> 01:38:30,537
AND WE'RE TRYING TO JUST KEEP UP

2961
01:38:30,537 --> 01:38:32,172
TO DATE, MAKE SURE THAT WE'RE 

2962
01:38:32,172 --> 01:38:33,407
LOOKING AT THE MOST CURRENT DATA

2963
01:38:33,407 --> 01:38:37,578
TO MAKE THESE DECISIONS 

2964
01:38:37,578 --> 01:38:38,178
-- OKAY. 

2965
01:38:38,178 --> 01:38:39,446
-- THANK YOU. I'LL JUST ONE LAST

2966
01:38:39,446 --> 01:38:41,682
SORT OF QUESTION, MAYBE MORE OF 

2967
01:38:41,682 --> 01:38:44,151
A COMMENT. YOU KNOW, I 

2968
01:38:44,151 --> 01:38:46,687
APPRECIATE THE THINKING GOING 

2969
01:38:46,687 --> 01:38:49,456
INTO SORT OF YOUR SITING POLICY 

2970
01:38:49,456 --> 01:38:50,591
THINKING, YOU KNOW, HOW DO WE 

2971
01:38:50,591 --> 01:38:52,092
MAKE SURE THAT WE ARE INVESTING 

2972
01:38:52,092 --> 01:38:54,495
SORT OF, YOU KNOW, IN AREAS THAT

2973
01:38:54,495 --> 01:38:57,231
WE HAVEN'T INVESTED IN 

2974
01:38:57,231 --> 01:38:59,400
PREVIOUSLY WHILE ALSO BEING 

2975
01:38:59,400 --> 01:39:01,201
MINDFUL OF THE PIPELINE, RIGHT, 

2976
01:39:01,201 --> 01:39:01,835
WHERE PEOPLE HAVE ALREADY SORT 

2977
01:39:01,835 --> 01:39:03,270
OF BOUGHT PROPERTIES AND, YOU 

2978
01:39:03,270 --> 01:39:07,308
KNOW, NOT WANTING TO LEAVE OUR 

2979
01:39:07,308 --> 01:39:07,942
DEVELOPING PARTNERS SORT OF IN 

2980
01:39:07,942 --> 01:39:09,843
THE LURCH BECAUSE WE'VE, YOU 

2981
01:39:09,843 --> 01:39:12,012
KNOW, SHIFTED, YOU KNOW, IT 

2982
01:39:12,012 --> 01:39:13,814
TAKES SO MANY YEARS FOR THEM TO,

2983
01:39:13,814 --> 01:39:16,951
TO PLAN AND THEY MAKE SUCH 

2984
01:39:16,951 --> 01:39:17,551
SIGNIFICANT INVESTMENTS. AND 

2985
01:39:17,551 --> 01:39:19,153
THEN, YOU KNOW, WHEN WE MAKE 

2986
01:39:19,153 --> 01:39:20,788
CHANGES, THAT THAT REALLY IS 

2987
01:39:20,788 --> 01:39:24,058
HARD FOR THEM TO PIVOT SO 

2988
01:39:24,058 --> 01:39:25,159
QUICKLY. SO I APPRECIATE SORT OF

2989
01:39:25,159 --> 01:39:27,761
THE LONG TERM THINKING THERE. 

2990
01:39:27,761 --> 01:39:29,296
AND I GUESS IT IS SORT OF A 

2991
01:39:29,296 --> 01:39:34,335
QUESTION OF GIVEN HOW WE KIND OF

2992
01:39:34,335 --> 01:39:37,004
RELY UPON OUR PARTNERS TO, YOU 

2993
01:39:37,004 --> 01:39:38,839
KNOW, GO OUT AND IDENTIFY SITES 

2994
01:39:38,839 --> 01:39:41,041
AND SORT OF LIKE WE AND IN SOME 

2995
01:39:41,041 --> 01:39:42,976
WAYS ARE SORT OF MORE OF A 

2996
01:39:42,976 --> 01:39:44,611
PASSIVE WAITING FOR PEOPLE TO 

2997
01:39:44,611 --> 01:39:48,615
BRING US PROJECTS AND, YOU KNOW,

2998
01:39:48,615 --> 01:39:49,817
THAT'S GOING TO RESULT IN, I 

2999
01:39:49,817 --> 01:39:52,553
THINK CERTAIN, YOU KNOW, LOWER 

3000
01:39:52,553 --> 01:39:53,487
COST AREAS SORT OF RISING TO THE

3001
01:39:53,487 --> 01:39:56,023
TOP. HOW DO WE SORT OF CHANGE TO

3002
01:39:56,023 --> 01:39:58,592
BE A LITTLE BIT LESS PASSIVE, A 

3003
01:39:58,592 --> 01:40:03,764
LITTLE BIT MORE PROACTIVE IN 

3004
01:40:03,764 --> 01:40:04,331
DEVELOPING THAT PIPELINE? I 

3005
01:40:04,331 --> 01:40:07,401
DON'T KNOW IF YOU HAVE ANY GUT 

3006
01:40:07,401 --> 01:40:07,901
THOUGHTS OR REACTIONS. 

3007
01:40:07,901 --> 01:40:09,136
-- ABSOLUTELY. I MEAN, THAT'S 

3008
01:40:09,136 --> 01:40:10,471
THAT IS THE GOAL OF THE WORK 

3009
01:40:10,471 --> 01:40:13,240
THAT WE ARE DOING NOW IS TO GET 

3010
01:40:13,240 --> 01:40:15,509
TO A MORE ACTIVE STANCE ON WHAT,

3011
01:40:15,509 --> 01:40:17,011
WHERE, WHAT GEOGRAPHIES DO WE 

3012
01:40:17,011 --> 01:40:18,445
WANT TO SEE INVESTMENTS FROM THE

3013
01:40:18,445 --> 01:40:21,982
OFFICE OF HOUSING LAND AND WHY? 

3014
01:40:21,982 --> 01:40:24,651
AND SO THAT THAT IS VERY MUCH 

3015
01:40:24,651 --> 01:40:25,819
THE ORIGIN OF THIS EFFORT. 

3016
01:40:25,819 --> 01:40:28,756
THAT'S THAT'S WHAT THE TEAM IS

3017
01:40:28,756 --> 01:40:31,892
TAKING ON. WE HAVE SOME EARLY 

3018
01:40:31,892 --> 01:40:32,593
INDICATIONS THAT THERE'S, YOU 

3019
01:40:32,593 --> 01:40:34,561
KNOW, SOME GREAT OPPORTUNITIES 

3020
01:40:34,561 --> 01:40:37,431
IN DIFFERENT NEIGHBORHOODS TO 

3021
01:40:37,431 --> 01:40:39,066
MAKE BETTER INVESTMENTS AND, AND

3022
01:40:39,066 --> 01:40:39,700
TRY AND LAND SOME INVESTMENTS. 

3023
01:40:39,700 --> 01:40:40,467
WE'VE BEEN TALKING TO OUR 

3024
01:40:40,467 --> 01:40:42,102
COLLEAGUES AT SOCIAL HOUSING 

3025
01:40:42,102 --> 01:40:44,104
PDA, AND THEY'RE REALLY 

3026
01:40:44,104 --> 01:40:45,539
INTERESTED IN STRIVING FOR 

3027
01:40:45,539 --> 01:40:46,173
INVESTMENTS IN PLACES THAT THE 

3028
01:40:46,173 --> 01:40:47,307
OFFICE OF HOUSING HAS NOT 

3029
01:40:47,307 --> 01:40:49,710
INVESTED IN AREAS OF OPPORTUNITY

3030
01:40:49,710 --> 01:40:50,811
AS WELL. SO WE DEFINITELY WANT 

3031
01:40:50,811 --> 01:40:53,280
TO GET TO THAT. AND THAT IS 

3032
01:40:53,280 --> 01:40:54,314
THAT'S PART OF OUR GOAL. SO 

3033
01:40:54,314 --> 01:40:56,350
WE'RE TALKING THIS YEAR. IT 

3034
01:40:56,350 --> 01:40:59,887
WOULD BE GREAT IF WE COULD PULL 

3035
01:40:59,887 --> 01:41:01,422
THIS OFF FOR THE 2027 NOFA, 

3036
01:41:01,422 --> 01:41:03,557
WHERE WE ARE PROVIDING MORE 

3037
01:41:03,557 --> 01:41:05,893
ACTIVE GUIDANCE OR THRESHOLD 

3038
01:41:05,893 --> 01:41:07,661
CRITERIA, PRIORITY POINTS FOR 

3039
01:41:07,661 --> 01:41:09,363
CERTAIN TYPES OF GEOGRAPHIES 

3040
01:41:09,363 --> 01:41:11,899
THAT THAT'S ON THE HORIZON, 

3041
01:41:11,899 --> 01:41:13,300
POTENTIALLY THIS YEAR. WE FOR 

3042
01:41:13,300 --> 01:41:16,203
THE FIRST TIME DID NOT REQUIRE 

3043
01:41:16,203 --> 01:41:16,737
MARKET STUDIES BECAUSE WE 

3044
01:41:16,737 --> 01:41:18,205
HAVEN'T SEEN THE BENEFIT OF 

3045
01:41:18,205 --> 01:41:18,906
THOSE. AND INSTEAD OUR TEAM IS 

3046
01:41:18,906 --> 01:41:21,875
TAKING ON REVIEW OF DATA MARKET 

3047
01:41:21,875 --> 01:41:23,077
DATA, SUBMARKET DATA TO HELP 

3048
01:41:23,077 --> 01:41:28,649
INFORM AND PROVIDE ANALYSIS AND 

3049
01:41:28,649 --> 01:41:30,751
BACKING FOR PARTICULAR PROJECTS 

3050
01:41:30,751 --> 01:41:31,351
IN NEIGHBORHOODS AROUND WHAT 

3051
01:41:31,351 --> 01:41:32,886
THEY'RE BRINGING FORWARD FOR 

3052
01:41:32,886 --> 01:41:34,021
THEIR RENT LEVELS AND THEIR 

3053
01:41:34,021 --> 01:41:34,855
BEDROOM SIZES. AND IF THAT'S 

3054
01:41:34,855 --> 01:41:36,657
GOING TO BE COMPETITIVE IN THAT 

3055
01:41:36,657 --> 01:41:38,125
AREA. SO IT'S BOTH OF THOSE 

3056
01:41:38,125 --> 01:41:40,394
THINGS. IT'S WHERE DO WE NEED 

3057
01:41:40,394 --> 01:41:42,229
HOUSING? BUT ALSO HOW SHOULD IT 

3058
01:41:42,229 --> 01:41:44,598
BE BUILT TO BE COMPETITIVE IN 

3059
01:41:44,598 --> 01:41:45,566
THAT NEIGHBORHOOD? SO WE'RE 

3060
01:41:45,566 --> 01:41:46,366
TRYING TO KIND OF IMPROVE ON 

3061
01:41:46,366 --> 01:41:49,269
BOTH OF THOSE FRONTS AT THE SAME

3062
01:41:49,269 --> 01:41:49,470
TIME. 

3063
01:41:49,470 --> 01:41:53,273
-- THANK YOU SO MUCH. AND THANK 

3064
01:41:53,273 --> 01:41:53,574
YOU, CHAIR. 

3065
01:41:53,574 --> 01:41:54,141
-- THANK YOU SO MUCH, VICE 

3066
01:41:54,141 --> 01:41:55,709
CHAIR. I REALLY APPRECIATE THOSE

3067
01:41:55,709 --> 01:41:58,178
QUESTIONS, AND I FEEL A LOT OF 

3068
01:41:58,178 --> 01:41:59,113
ALIGNMENT. I THINK, IN THE 

3069
01:41:59,113 --> 01:42:00,581
SPIRIT OF WHERE YOU WERE 

3070
01:42:00,581 --> 01:42:02,316
HEADING. AND I THINK ON BOTH THE

3071
01:42:02,316 --> 01:42:03,784
PREVIOUS QUESTIONS AROUND THE 

3072
01:42:03,784 --> 01:42:06,153
NEED TO MAKE SURE THAT WE'RE 

3073
01:42:06,153 --> 01:42:06,753
DOING STRONG INVESTMENTS AND 

3074
01:42:06,753 --> 01:42:08,122
PARTNERSHIP WITH, OH, STRONG 

3075
01:42:08,122 --> 01:42:09,089
INVESTMENT, NOT INVESTMENTS, BUT

3076
01:42:09,089 --> 01:42:10,123
PARTNERSHIP WITH MARKET. AND 

3077
01:42:10,123 --> 01:42:12,259
ALSO SO EXCITING TO HEAR ABOUT 

3078
01:42:12,259 --> 01:42:13,127
THE SITING WORK. AND I THINK 

3079
01:42:13,127 --> 01:42:15,796
THAT'S AN OPPORTUNITY TO REALLY

3080
01:42:15,796 --> 01:42:18,765
BUILD ON WHERE WE'RE HERE AND BE

3081
01:42:18,765 --> 01:42:19,800
RESPONSIVE TO WHAT WE'RE HEARING

3082
01:42:19,800 --> 01:42:21,335
FROM FOLKS. AND I KNOW THAT 

3083
01:42:21,335 --> 01:42:23,770
OBVIOUSLY WE HAVE THE MONTLAKE 

3084
01:42:23,770 --> 01:42:25,339
PROPERTY NOW, AND WE HAVE THE 

3085
01:42:25,339 --> 01:42:26,740
PROPERTY THAT WE'RE IN THE 

3086
01:42:26,740 --> 01:42:28,909
CENTRAL DISTRICT THAT WILL BE 

3087
01:42:28,909 --> 01:42:30,210
AFFORDABLE HOMEOWNERSHIP. AND 

3088
01:42:30,210 --> 01:42:32,946
I'M, I'M LOOKING FORWARD TO 

3089
01:42:32,946 --> 01:42:34,348
MORE OPPORTUNITIES TO BUILD ON 

3090
01:42:34,348 --> 01:42:35,482
THOSE KINDS OF ACQUISITIONS AND 

3091
01:42:35,482 --> 01:42:37,518
SUPPORT INNOVATION AND PLACE 

3092
01:42:37,518 --> 01:42:39,219
BASED DEVELOPMENT IN HIGH 

3093
01:42:39,219 --> 01:42:40,721
OPPORTUNITY NEIGHBORHOODS. I 

3094
01:42:40,721 --> 01:42:41,455
THINK THAT'S FANTASTIC. I DO 

3095
01:42:41,455 --> 01:42:45,325
WANT TO ASK ONE FINAL QUESTION 

3096
01:42:45,325 --> 01:42:47,261
BEFORE WE WRAP UP HERE, WHICH IS

3097
01:42:47,261 --> 01:42:48,428
JUST TO GO BACK TO THE SOME OF 

3098
01:42:48,428 --> 01:42:50,631
THE POINTS THAT WERE MADE AROUND

3099
01:42:50,631 --> 01:42:52,599
THE STUDIOS AND THE THE GAPS IN 

3100
01:42:52,599 --> 01:42:53,934
THE MARKET. THERE WAS A MAYBE 

3101
01:42:53,934 --> 01:42:55,569
THIS IS A COMMENT, BUT SOMETHING

3102
01:42:55,569 --> 01:42:57,504
I'VE HEARD FROM OUR PARTNERS 

3103
01:42:57,504 --> 01:42:59,406
WAS, YOU KNOW, AROUND THE REAL 

3104
01:42:59,406 --> 01:43:01,408
CHALLENGES THAT FOLKS HAVE HAD 

3105
01:43:01,408 --> 01:43:03,911
ON FILLING THOSE STUDIOS, IN 

3106
01:43:03,911 --> 01:43:04,545
PART BECAUSE OF THE FACT THAT 

3107
01:43:04,545 --> 01:43:06,813
WHEN WE HAVE THOSE STUDIO UNITS 

3108
01:43:06,813 --> 01:43:09,049
THAT ARE AROUND 60%, AM I IN 

3109
01:43:09,049 --> 01:43:11,185
PARTICULAR, THEY STRUGGLE TO TO 

3110
01:43:11,185 --> 01:43:13,287
COMPETE AND ATTRACT FOLKS 

3111
01:43:13,287 --> 01:43:15,189
BECAUSE OF THE AFFORDABILITY 

3112
01:43:15,189 --> 01:43:16,189
LEVEL. AND A STORY THAT I HEARD 

3113
01:43:16,189 --> 01:43:17,891
THAT I THOUGHT WAS A REALLY 

3114
01:43:17,891 --> 01:43:19,426
EXCITING EXAMPLE OF 

3115
01:43:19,426 --> 01:43:21,528
RESPONSIVENESS FROM, OH, WAS IN 

3116
01:43:21,528 --> 01:43:23,197
SOME OF THE DEBT RESTRUCTURING, 

3117
01:43:23,197 --> 01:43:24,431
BEING ABLE TO INVEST AND BUY 

3118
01:43:24,431 --> 01:43:26,066
DOWN THE COST OF THOSE STUDIO 

3119
01:43:26,066 --> 01:43:28,268
UNITS. AND I WONDER IF YOU CAN 

3120
01:43:28,268 --> 01:43:29,069
SPEAK TO THAT, BECAUSE I THINK 

3121
01:43:29,069 --> 01:43:30,737
WHEN WE HEAR DEBT RESTRUCTURING,

3122
01:43:30,737 --> 01:43:32,639
IT'S, YOU KNOW, MAYBE FOR SOME 

3123
01:43:32,639 --> 01:43:36,143
FOLKS HERE, WE'RE LIKE, YES, 

3124
01:43:36,143 --> 01:43:36,777
BUT I THINK SOMETIMES THERE CAN 

3125
01:43:36,777 --> 01:43:38,745
BE LIKE A WAIT, WHAT DO WE MEAN?

3126
01:43:38,745 --> 01:43:40,247
AND IT'S LOOKED LIKE A COUPLE OF

3127
01:43:40,247 --> 01:43:43,150
DIFFERENT THINGS IN THE WAY THAT

3128
01:43:43,150 --> 01:43:43,817
YOU'VE RESPONDED TO OUR PARTNERS

3129
01:43:43,817 --> 01:43:45,118
OVER THE LAST YEAR. SO CAN YOU 

3130
01:43:45,118 --> 01:43:46,853
SPEAK TO THAT PARTICULAR 

3131
01:43:46,853 --> 01:43:47,254
APPROACH, PLEASE? 

3132
01:43:47,254 --> 01:43:50,257
-- YES. YOU BET. YEAH. SO WHEN 

3133
01:43:50,257 --> 01:43:52,359
YOU KNOW THIS, THIS PHENOMENON 

3134
01:43:52,359 --> 01:43:54,595
OF VACANCY AND 60% STUDIOS HAS 

3135
01:43:54,595 --> 01:43:58,432
BEEN HAPPENING FOR A COUPLE OF 

3136
01:43:58,432 --> 01:44:00,601
YEARS AND, AND INCREASING AND 

3137
01:44:00,601 --> 01:44:03,403
CONCERN. AND WE'VE TRIED SEVERAL

3138
01:44:03,403 --> 01:44:05,906
APPROACHES. SO WE PROVIDED 

3139
01:44:05,906 --> 01:44:07,908
SIGNIFICANT RENTAL ASSISTANCE. 

3140
01:44:07,908 --> 01:44:10,677
AND THE FEDERAL GOVERNMENT 

3141
01:44:10,677 --> 01:44:11,244
PROVIDED SIGNIFICANT RENTAL 

3142
01:44:11,244 --> 01:44:13,547
ASSISTANCE. WE OFFERED OPERATING

3143
01:44:13,547 --> 01:44:16,783
STABILIZATION GRANTS THAT WENT 

3144
01:44:16,783 --> 01:44:17,884
TO ORGANIZATIONS, AND THEY WERE 

3145
01:44:17,884 --> 01:44:19,620
ABLE TO SORT OF TARGET WITHIN 

3146
01:44:19,620 --> 01:44:21,622
THEIR PROJECT PORTFOLIOS WHERE 

3147
01:44:21,622 --> 01:44:24,291
THOSE FUNDS SHOULD LAND. WE'VE 

3148
01:44:24,291 --> 01:44:27,027
ALSO PROVIDED ADDITIONAL URGENT 

3149
01:44:27,027 --> 01:44:27,761
OPERATING STABILIZATION SUPPORT,

3150
01:44:27,761 --> 01:44:29,930
AGAIN, TO THE ORGANIZATION AS A 

3151
01:44:29,930 --> 01:44:31,365
WHOLE. AND THEY DECIDE WHERE 

3152
01:44:31,365 --> 01:44:33,834
THOSE FUNDS GO. THE DEBT 

3153
01:44:33,834 --> 01:44:37,437
RESTRUCTURING IS DIFFERENT. 

3154
01:44:37,437 --> 01:44:38,005
IT'S A TAILORED APPROACH 

3155
01:44:38,005 --> 01:44:40,007
SPECIFICALLY FOR ONE BUILDING, 

3156
01:44:40,007 --> 01:44:43,176
AND IT PERMANENTLY CHANGES THE 

3157
01:44:43,176 --> 01:44:46,346
PROJECT FOR THE LONG TERM AND IS

3158
01:44:46,346 --> 01:44:47,147
RESPONSIVE TO SOME OF THESE 

3159
01:44:47,147 --> 01:44:48,749
CONDITIONS THAT WE'RE 

3160
01:44:48,749 --> 01:44:50,050
EXPERIENCING RIGHT NOW. FOR 

3161
01:44:50,050 --> 01:44:51,118
PROJECTS THAT HAVE NOT BEEN OPEN

3162
01:44:51,118 --> 01:44:52,653
FOR VERY LONG, BUT ARE REALLY 

3163
01:44:52,653 --> 01:44:53,654
STRUGGLING TO LEASE SOME OF 

3164
01:44:53,654 --> 01:44:55,922
THESE PROJECTS. SO THEY'VE BEEN

3165
01:44:55,922 --> 01:44:57,391
A 60% STUDIO. WE'RE ABLE TO 

3166
01:44:57,391 --> 01:44:59,660
UNDERWRITE THOSE LOWER DOWN 50, 

3167
01:44:59,660 --> 01:45:02,062
40, 30 AM I? IT DEPENDS ON THE 

3168
01:45:02,062 --> 01:45:04,765
PROJECT. AND MANY OF THOSE ARE 

3169
01:45:04,765 --> 01:45:06,767
STILL UNDERWAY NOW. BUT IT'S 

3170
01:45:06,767 --> 01:45:08,735
IT'S A MORE IT'S A DEEPER 

3171
01:45:08,735 --> 01:45:11,705
IMPACT FOR A SINGLE PROJECT AND 

3172
01:45:11,705 --> 01:45:12,839
A LONGER TERM INVESTMENT. AND 

3173
01:45:12,839 --> 01:45:15,542
IT'S, IT'S MUCH MORE IN LINE 

3174
01:45:15,542 --> 01:45:18,412
WITH THE WAY THAT O TYPICALLY 

3175
01:45:18,412 --> 01:45:20,380
INVESTS IN PROJECTS. AND OUR 

3176
01:45:20,380 --> 01:45:22,049
PARTNERS. BUT IT IS ALSO A NEW 

3177
01:45:22,049 --> 01:45:23,383
STRATEGY. AND THE TEAM IS 

3178
01:45:23,383 --> 01:45:25,252
CONTINUING TO LEARN FROM THAT. 

3179
01:45:25,252 --> 01:45:25,886
IT'LL BE INTERESTING TO SEE 

3180
01:45:25,886 --> 01:45:27,821
WHICH PROJECTS COME THROUGH THIS

3181
01:45:27,821 --> 01:45:29,523
YEAR, BUT WE'VE HEARD FROM OUR 

3182
01:45:29,523 --> 01:45:30,991
PARTNERS THAT THERE IS INTEREST 

3183
01:45:30,991 --> 01:45:32,726
IN CONTINUING THIS APPROACH AND 

3184
01:45:32,726 --> 01:45:34,528
THAT THEY HAVE STILL MORE NEED 

3185
01:45:34,528 --> 01:45:36,930
WITH THEIR PORTFOLIOS TO ADDRESS

3186
01:45:36,930 --> 01:45:38,632
SOME OF THESE ISSUES OF THE 

3187
01:45:38,632 --> 01:45:41,034
MISMATCH WITH INCOMES AND RENTS 

3188
01:45:41,034 --> 01:45:42,536
AND JUST THE REALITIES OF 

3189
01:45:42,536 --> 01:45:44,504
DIFFERENT SUBMARKETS. 

3190
01:45:44,504 --> 01:45:46,807
-- THANK YOU FOR THAT. AND AND 

3191
01:45:46,807 --> 01:45:48,909
OKAY, FINAL FINAL QUESTION. JUST

3192
01:45:48,909 --> 01:45:50,243
WHEN WE TALK ABOUT THE DEBT 

3193
01:45:50,243 --> 01:45:52,212
RESTRUCTURING WORK, THE RENT, 

3194
01:45:52,212 --> 01:45:53,647
THE RENTAL SUBSIDIES, THE 

3195
01:45:53,647 --> 01:45:55,248
VARIOUS APPROACHES THAT O HAS 

3196
01:45:55,248 --> 01:45:56,683
TAKEN AND THAT YOU'VE REPORTED 

3197
01:45:56,683 --> 01:45:58,318
BACK TO US, I WONDER IF YOU'RE 

3198
01:45:58,318 --> 01:46:01,988
ABLE TO SORT OF SHARE ANY EARLY 

3199
01:46:01,988 --> 01:46:04,458
UNDERSTANDING OF ONE OF THESE 

3200
01:46:04,458 --> 01:46:05,692
STRATEGIES BEING THE BETTER BANG

3201
01:46:05,692 --> 01:46:07,360
FOR OUR BUCK OR THE MOST 

3202
01:46:07,360 --> 01:46:10,063
EFFECTIVE, OR WHETHER WE'RE 

3203
01:46:10,063 --> 01:46:10,697
SEEING THAT THIS IS A CHALLENGE 

3204
01:46:10,697 --> 01:46:11,932
AND OUR, OUR AFFORDABLE 

3205
01:46:11,932 --> 01:46:16,103
COMMUNITY THAT REQUIRES AN 

3206
01:46:16,103 --> 01:46:17,270
ONGOING MULTI-PRONGED APPROACH 

3207
01:46:17,270 --> 01:46:18,705
WHEN IT COMES TO HOW YOU'RE 

3208
01:46:18,705 --> 01:46:20,474
APPROACH RATING, EXCUSE ME, 

3209
01:46:20,474 --> 01:46:22,442
APPROACHING THE OPERATING 

3210
01:46:22,442 --> 01:46:23,076
SUBSIDIES AND RESTABILIZATION OF

3211
01:46:23,076 --> 01:46:24,711
THE SECTOR. 

3212
01:46:24,711 --> 01:46:25,879
-- I THINK WE'RE STILL LEARNING.

3213
01:46:25,879 --> 01:46:28,215
I DO YOU KNOW, IT'S I LIKE BOTH

3214
01:46:28,215 --> 01:46:30,050
AND I THINK WITH WITH THE 

3215
01:46:30,050 --> 01:46:32,285
HOUSING LEVY AND OUR JUMPSTART 

3216
01:46:32,285 --> 01:46:33,120
SPEND PLAN THAT YOU SAW EARLIER 

3217
01:46:33,120 --> 01:46:35,055
IN THE SLIDES, HAVING AN ARRAY 

3218
01:46:35,055 --> 01:46:36,590
AND A DIVERSITY OF SPENDING 

3219
01:46:36,590 --> 01:46:37,891
CATEGORIES TO COVER THE FULL 

3220
01:46:37,891 --> 01:46:40,293
ECOSYSTEM OF NEEDS IS REALLY 

3221
01:46:40,293 --> 01:46:42,729
IMPORTANT. AND WE NEED TO DO 

3222
01:46:42,729 --> 01:46:44,030
CAPITAL INVESTMENTS, AND WE NEED

3223
01:46:44,030 --> 01:46:46,767
TO SUPPORT OPERATIONS. IT'S GOOD

3224
01:46:46,767 --> 01:46:49,936
WHEN WE CAN DIRECTLY ALLOCATE 

3225
01:46:49,936 --> 01:46:50,904
FUNDS TO A PROJECT FOR A 

3226
01:46:50,904 --> 01:46:52,305
SPECIFIC PURPOSE. IT'S MORE IN 

3227
01:46:52,305 --> 01:46:54,741
LINE WITH OUR PRACTICE AND WHAT 

3228
01:46:54,741 --> 01:46:56,610
OUR OFFICE IS REALLY, IT'S 

3229
01:46:56,610 --> 01:46:57,511
IT'S OUR BREAD AND BUTTER. SO 

3230
01:46:57,511 --> 01:46:59,012
THAT'S, THAT'S REALLY WHAT 

3231
01:46:59,012 --> 01:47:01,181
WE'RE ACCUSTOMED TO DOING. I 

3232
01:47:01,181 --> 01:47:01,848
THINK THE DEBT RESTRUCTURING HAS

3233
01:47:01,848 --> 01:47:03,517
A LOT OF SHOWS, A LOT OF 

3234
01:47:03,517 --> 01:47:05,452
PROMISE. IT'S, IT'S GOING TO 

3235
01:47:05,452 --> 01:47:06,920
BE INTERESTING TO SEE HOW THOSE 

3236
01:47:06,920 --> 01:47:08,488
CURRENT AWARDS PLAY OUT IN THESE

3237
01:47:08,488 --> 01:47:09,656
INITIAL YEARS. AND THEN AGAIN, 

3238
01:47:09,656 --> 01:47:12,125
WHAT COMES THROUGH. BUT THAT'S 

3239
01:47:12,125 --> 01:47:13,994
I'M KIND OF, I THINK STAFF, 

3240
01:47:13,994 --> 01:47:14,961
JUST FROM THE FEW CONVERSATIONS 

3241
01:47:14,961 --> 01:47:17,831
I'VE HAD WITH OUR STAFF TEAM, 

3242
01:47:17,831 --> 01:47:19,366
THERE'S A BIT OF A LEAN TOWARD 

3243
01:47:19,366 --> 01:47:20,567
DEBT RESTRUCTURING INVESTMENTS. 

3244
01:47:20,567 --> 01:47:22,803
I THINK AT THIS POINT, AS 

3245
01:47:22,803 --> 01:47:24,304
OPPOSED TO MORE OPERATING 

3246
01:47:24,304 --> 01:47:24,871
STABILIZATION GRANTS, JUST 

3247
01:47:24,871 --> 01:47:25,705
BECAUSE WE KNOW EXACTLY WHERE 

3248
01:47:25,705 --> 01:47:28,008
THOSE ARE LANDING AND WHAT 

3249
01:47:28,008 --> 01:47:29,309
THEY'RE ACHIEVING IN SPECIFIC 

3250
01:47:29,309 --> 01:47:32,012
BUILDINGS AND FOR SPECIFIC 

3251
01:47:32,012 --> 01:47:34,181
APARTMENTS. SO THAT'S MY INITIAL

3252
01:47:34,181 --> 01:47:34,414
ANSWER. 

3253
01:47:34,414 --> 01:47:35,148
-- THANK YOU FOR THAT. AND I 

3254
01:47:35,148 --> 01:47:37,184
KNOW WE HAVE A LOT MORE WORK TO 

3255
01:47:37,184 --> 01:47:39,319
DO IN THIS SPACE, AND I LOOK 

3256
01:47:39,319 --> 01:47:40,053
FORWARD TO CONTINUING TO PARTNER

3257
01:47:40,053 --> 01:47:41,588
WITH YOU AND YOUR OFFICE AND THE

3258
01:47:41,588 --> 01:47:43,056
FANTASTIC AND SMART STAFF TEAM 

3259
01:47:43,056 --> 01:47:44,424
THERE AT THE OFFICE OF HOUSING 

3260
01:47:44,424 --> 01:47:47,227
ON THIS WORK. WE KNOW THAT THE 

3261
01:47:47,227 --> 01:47:47,861
OPERATING AND MAINTENANCE NEEDS 

3262
01:47:47,861 --> 01:47:48,929
WERE SOMETHING THAT, AS WE 

3263
01:47:48,929 --> 01:47:50,597
TALKED ABOUT EARLIER IN THIS 

3264
01:47:50,597 --> 01:47:53,033
YEAR, WE'VE SEEN ACROSS THE 

3265
01:47:53,033 --> 01:47:56,036
COUNTRY BE A GAP, RIGHT? WHEN 

3266
01:47:56,036 --> 01:47:58,138
BECAUSE WE'VE INVESTED IN 

3267
01:47:58,138 --> 01:47:59,072
PRODUCTION, BUT WE HAVEN'T 

3268
01:47:59,072 --> 01:48:02,442
INVESTED CONCURRENTLY IN 

3269
01:48:02,442 --> 01:48:03,376
PRESERVATION AND STABILIZATION. 

3270
01:48:03,376 --> 01:48:05,078
SO I KNOW THAT OFFICE OF HOUSING

3271
01:48:05,078 --> 01:48:07,781
IS NOT ALONE IN THE NEED TO BE 

3272
01:48:07,781 --> 01:48:08,448
RESPONSIVE TO WHAT'S HAPPENING 

3273
01:48:08,448 --> 01:48:10,517
IN COMMUNITY, AND I LOOK FORWARD

3274
01:48:10,517 --> 01:48:12,152
TO CONTINUING TO WORK AND LEARN 

3275
01:48:12,152 --> 01:48:13,220
ALONGSIDE YOU, AS WELL AS OUR 

3276
01:48:13,220 --> 01:48:15,922
COLLEAGUES AROUND THE COUNTRY. 

3277
01:48:15,922 --> 01:48:17,524
AND WITH THAT, COLLEAGUES, 

3278
01:48:17,524 --> 01:48:18,658
UNLESS I SEE ANY FURTHER HANDS, 

3279
01:48:18,658 --> 01:48:20,026
I'M JUST GOING TO CHECK ON MY 

3280
01:48:20,026 --> 01:48:24,030
SCREEN QUICKLY HERE. OKAY, 

3281
01:48:24,030 --> 01:48:24,698
FANTASTIC. THAT IS. THANK YOU 

3282
01:48:24,698 --> 01:48:25,899
ALL SO MUCH FOR JOINING US. WE 

3283
01:48:25,899 --> 01:48:27,100
REALLY APPRECIATE YOU. IS THERE 

3284
01:48:27,100 --> 01:48:28,835
ANY FURTHER BUSINESS TO COME 

3285
01:48:28,835 --> 01:48:31,471
BEFORE COMMITTEE TODAY ALL 

3286
01:48:31,471 --> 01:48:33,306
RIGHT. SEEING NONE. THIS 

3287
01:48:33,306 --> 01:48:35,008
CONCLUDES THE AUGUST 12th, 2026 

3288
01:48:35,008 --> 01:48:36,710
MEETING OF THE HOUSING, ARTS AND

3289
01:48:36,710 --> 01:48:38,245
CIVIL RIGHTS COMMITTEE. OUR NEXT

3290
01:48:38,245 --> 01:48:39,512
SCHEDULED MEETING IS ON 

3291
01:48:39,512 --> 01:48:40,680
SEPTEMBER 9th. THANK YOU ALL SO 

3292
01:48:40,680 --> 01:48:44,651
MUCH. IT IS 3:53 P.M. AND WE ARE

3293
01:48:44,651 --> 01:48:44,951
ADJOURNED. 

3294
01:48:44,951 --> 01:48:52,425
-- RIGHT 

3295
01:48:52,659 --> 01:49:02,936
-- [MUSIC] [MUSIC] 

3296
01:49:11,811 --> 01:49:19,552
[MUSIC]