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~ Spokane City Council to Consider Funding for Affordable Housing Projects in West Quadrant TIF District
The City of Spokane's Community and Economic Development Division is set to present a proposal at Monday's Urban Experience Committee meeting, seeking approval for funding towards affordable housing projects within the West Quadrant Tax Increment Financing (TIF) District. This move comes as part of the city's efforts to revitalize neighborhoods and support low-income families.
According to Erin Hut, Communications Director for the city, TIF districts are an important economic development tool that directs additional property tax revenue from new developments towards public projects in neighboring areas. This allows for the improvement of public infrastructure and revitalization of neighborhoods.
The proposed resolution would allocate $1.2 million from the West Quadrant TIF District to Habitat for Humanity, a non-profit organization dedicated to providing affordable housing solutions. The funds will be used to rehabilitate and update up to seven homes in the West Central neighborhood, making them permanently affordable for low-income families.
Michelle Girardot, CEO of Habitat for Humanity, expressed her excitement about the potential partnership with the city. She stated that their previous collaborations have already shown how transformative this type of investment can be in stabilizing communities and improving lives.
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Mayor Lisa Brown also praised the use of TIF funding for affordable housing, calling it a creative and forward-thinking approach. She believes that by directing these funds towards permanently affordable housing, the benefits of revitalization can be shared among all members of the community.
The addition of "permanently affordable housing" as a designated use for TIF districts was made possible by legislation passed by the Washington State Legislature in 2020. Former City Council President Breean Beggs and state lawmakers from Spokane were instrumental in championing this law.
Council Member Kitty Klitzke emphasized the urgency of addressing Spokane's affordable housing crisis and highlighted the opportunity presented by this proposal. She also commended the welcoming and supportive attitude of the West Central neighborhood towards diverse housing options for different households.
The Neighborhood Project Advisory Committee for the West Quadrant TIF District, which provides input to the city on TIF funding decisions, unanimously supported this investment and forwarded the proposal to the City Council for consideration.
If approved, this funding will not only provide much-needed affordable housing options for low-income families but also contribute to the overall revitalization and inclusivity of Spokane's neighborhoods. The City Council's decision is eagerly awaited by all stakeholders involved.
The City of Spokane's Community and Economic Development Division is set to present a proposal at Monday's Urban Experience Committee meeting, seeking approval for funding towards affordable housing projects within the West Quadrant Tax Increment Financing (TIF) District. This move comes as part of the city's efforts to revitalize neighborhoods and support low-income families.
According to Erin Hut, Communications Director for the city, TIF districts are an important economic development tool that directs additional property tax revenue from new developments towards public projects in neighboring areas. This allows for the improvement of public infrastructure and revitalization of neighborhoods.
The proposed resolution would allocate $1.2 million from the West Quadrant TIF District to Habitat for Humanity, a non-profit organization dedicated to providing affordable housing solutions. The funds will be used to rehabilitate and update up to seven homes in the West Central neighborhood, making them permanently affordable for low-income families.
Michelle Girardot, CEO of Habitat for Humanity, expressed her excitement about the potential partnership with the city. She stated that their previous collaborations have already shown how transformative this type of investment can be in stabilizing communities and improving lives.
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Mayor Lisa Brown also praised the use of TIF funding for affordable housing, calling it a creative and forward-thinking approach. She believes that by directing these funds towards permanently affordable housing, the benefits of revitalization can be shared among all members of the community.
The addition of "permanently affordable housing" as a designated use for TIF districts was made possible by legislation passed by the Washington State Legislature in 2020. Former City Council President Breean Beggs and state lawmakers from Spokane were instrumental in championing this law.
Council Member Kitty Klitzke emphasized the urgency of addressing Spokane's affordable housing crisis and highlighted the opportunity presented by this proposal. She also commended the welcoming and supportive attitude of the West Central neighborhood towards diverse housing options for different households.
The Neighborhood Project Advisory Committee for the West Quadrant TIF District, which provides input to the city on TIF funding decisions, unanimously supported this investment and forwarded the proposal to the City Council for consideration.
If approved, this funding will not only provide much-needed affordable housing options for low-income families but also contribute to the overall revitalization and inclusivity of Spokane's neighborhoods. The City Council's decision is eagerly awaited by all stakeholders involved.
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