CITY OF BURIEN, WASHINGTON

 

RESOLUTION NO. 197

 

A RESOLUTION OF THE CITY OF BURIEN, WASHINGTON, SUPPORTING THE WASHINGTON STATE HOUSING FINANCE COMMISSION’S PROPOSED POLICY CHANGE TO CREATE A SET-ASIDE OF LOW INCOME HOUSING TAX CREDITS FOR THE GREENBRIDGE HOPE VI PROJECT

 

            WHEREAS, The King County Housing Authority has been awarded a $35 million HOPE VI grant from the U.S. Department of Housing and Urban Development to redevelop the old Park Lake Homes public housing site in White Center into the new master planned community of Greenbridge that will eliminate distressed and obsolete public housing and provide a new mix of uses and housing types that will greatly contribute to the revitalization of the White Center area; and

 

            WHEREAS, Greenbridge will incorporate parks, schools, community facilities, and public services into a new residential community of approximately 650 rental housing units and 350 owner occupied units; and

 

            WHEREAS, Greenbridge will be constructed over the next 8 years using the highest standards of architecture and urban planning; and

 

            WHEREAS, the rental housing component is a critical element of the overall project and will provide high quality affordable housing for a broad mix of household incomes including low income public housing residents as well as members of the local workforce; and

 

            WHEREAS, the rental housing will be financed using a combination of public and private financing along with the investor equity secured through the sale of Low Income Housing Tax Credits; and

 

            WHEREAS, Low Income Housing Tax Credits are allocated by the Washington State Housing Finance Commission and predictable access to tax credits over the next 5 years is essential in order for the Greenbridge HOPE VI project to proceed into construction; and

 

            WHEREAS, The Washington State Housing Finance Commission has proposed a policy change creating a 5 year set-aside of Low Income Housing Tax Credits for the Greenbridge HOPE VI project and will be taking action on this policy change at its September 23, 2004 meeting; and

 

            WHEREAS, the Burien City Council strongly supports the Greenbridge HOPE VI project and recognizes the many positive impacts this project will have on the residents of White Center and nearby communities such as Burien.

 

            NOW, THEREFORE, BE IT RESOLVED that the Burien City Council urgently calls upon the Washington State Housing Finance Commission to adopt policy changes creating a 5 year set-aside of Low Income Housing Tax Credits for the Greenbridge HOPE VI revitalization project.

 

ADOPTED BY THE CITY COUNCIL OF THE CITY OF BURIEN, WASHINGTON, AT A REGULAR MEETING THEREOF THIS 16TH DAY OF AUGUST 2004.

 

 

CITY OF BURIEN

/s/ Noel Gibb, Mayor

 

ATTEST/AUTHENTICATED:

/s/ Janice Roegner, City Clerk

 

Approved as to form:

/s/ Lisa Marshall, City Attorney

 

Filed with the City Clerk: August 2, 2004

Passed by the City Council: August 17, 2004

Resolution No. 197