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2020-11-12 Citizens Housing Commission Packeto Agenda VEdmonds Citizens Housing Commission ,HvREGULAR MEETING VIRTUAL ONLINE MEETING EDMONDS CITY COUNCIL MEETINGS WEB PAGE, HTTP://EDMONDSWA.IQM2.COM/CITIZENS/DEFAULT.ASPX, EDMONDS, WA 98020 NOVEMBER 12, 2020, 6:30 PM VIRTUAL MEETING INFORMATION LIVE STREAM: VIRTUAL MEETING BROADCASTED ON GOVERNMENT ACCESS CHANNELS 21 (COMCAST) AND 39 (FRONTIER) AS WELL AS THE CITY AGENDA PAGE WEBSITE (HTTP://EDMONDSWA.IQM2.COM/CITIZENS/DEFAULT.ASPX). HOUSING COMMISSION'S MISSION DEVELOP DIVERSE HOUSING POLICY OPTIONS FOR (CITY) COUNCIL CONSIDERATION DESIGNED TO EXPAND THE RANGE OF HOUSING (INCLUDING RENTAL AND OWNED) AVAILABLE IN EDMONDS; OPTIONS THAT ARE IRRESPECTIVE OF AGE, GENDER, RACE, RELIGIOUS AFFILIATION, PHYSICAL DISABILITY OR SEXUAL ORIENTATION" — FROM CITY COUNCIL RESOLUTION NO. 1427 ACKNOWLEDGMENT STATEMENT "WE ACKNOWLEDGE THE ORIGINAL INHABITANTS OF THIS PLACE, THE SDOHOBSH (SNOHOMISH) PEOPLE AND THEIR SUCCESSORS THE TULALIP TRIBES, WHO SINCE TIME IMMEMORIAL HAVE HUNTED, FISHED, GATHERED, AND TAKEN CARE OF THESE LANDS. WE RESPECT THEIR SOVEREIGNTY, THEIR RIGHT TO SELF-DETERMINATION, AND WE HONOR THEIR SACRED SPIRITUAL CONNECTION WITH THE LAND AND WATER." — CITY COUNCIL LAND ACKNOWLEDGMENT OPEN PUBLIC MEETING ACT THE NOVEMBER 12, 2020 CITIZENS' HOUSING COMMISSION MEETING IS BEING HELD ONLINE AND WITHOUT A PHYSICAL MEETING PRESENCE, PER GOVERNOR INSLEE'S MOST RECENT PROCLAMATION REGARDING THE OPEN PUBLIC MEETINGS ACT. 1. CALL TO ORDER & AGENDA REVIEW 2. LAND ACKNOWLEDGMENT 3. ROLL CALL 4. PUBLIC COMMENTS (SUBMITTED BY EMAIL TO HOUSING.PUB.COMMENTS@EDMONDSWA.GOV) Edmonds Citizens Housing Commission Agenda November 12, 2020 Page 1 APPROVAL OF OCTOBER 29, 2020 MEETING NOTES Approval of October 29, 2020 Meeting Notes 6. HOUSING SUPPLY & AFFORDABILITY DISCUSSION (10 MINUTES) Housing Supply & Affordability Discussion 7. PRESENTATION OF ANY REFINEMENTS/ADDITIONS TO POLICY IDEAS (30 MINUTES) Presentation of any Refinements/Additions to Policy Ideas 8. DISCUSSION OF FULL LIST OF PROPOSED DRAFT POLICIES (40 MINUTES) Discussion of Full List of Proposed Draft Policies 9. REVIEW OF TIMELINE AND NEXT COMMUNITY ENGAGEMENT EVENT (20 MINUTES) Review of Timeline and Next Community Engagement Event 10. WRAP UP, NEXT STEPS & ADJOURN Edmonds Citizens Housing Commission Agenda November 12, 2020 Page 2 Citizens Housing Commission Agenda Item Meeting Date: 11/12/2020 Approval of October 29, 2020 Meeting Notes Staff Lead: Shane Hope Department: Citizens Housing Commission Prepared By: Debbie Rothfus Background/History N/A Staff Recommendation Approve the meeting notes. Narrative Draft meeting notes from the 10/29/2020 meeting are attached. Attachments: ECHC_Notes_10.29 Packet Pg. 3 5.a EDMONDS CITIZENS' HOUSING COMMISSION Meeting Notes — October 29, 2020 Zoom Virtual Meeting 6:30 — 8:30 PM Virtual meetings are broadcast on government access channels 21 (Comcast) and 39 (Frontier). A recording of the meeting is available on the City website. Meeting materials can be found on the Citizens' Housine Commission Webaaee. ATTENDANCE Commissioners • Karen Haase Herrick, Zone 1 • James Ogonowski, Zone 1 • Keith Soltner, Zone 2 • Eva -Denise Miller, Zone 3 • George Keefe, Zone 3 • Nichole Franko, Zone 4 • Michael McMurray, Zone 4 • Tanya Kataria, Zone 5 • Greg Long, Zone 5 • Jess Blanch, Zone 6 • Alena Nelson-Vietmeier, Zone 6 • Will Chen, Zone 7 • Judi Gladstone, Zone 7 • Bob Throndsen, At -large *Indicates an alternate participating as a voting member Alternates • Leif Warren, Zone 1 • Wendy Wyatt, Zone 2* • Kenneth Sund, Zone 4 • Rick Nishino, Zone 6 • Jean Salls, Zone 7 • Tana Axtelle, At -large City Council Liaison • Vivian Olson, Position 5 • Luke Distelhorst, Position 2 Project Staff • Shane Hope, City of Edmonds • Brad Shipley, City of Edmonds • Amber Groll, City of Edmonds • Gretchen Muller, Cascadia Consulting Group • Kate Graham, Cascadia Consulting Group • Jasmine Beverly, Cascadia Consulting Group AGENDA 1. TECHNOLOGY OVERVIEW— Gretchen Muller 2. REVIEW OF AGENDA I. Commission member read the land acknowledgement 3. ROLL CALL— Amber Groll 4. PUBLIC COMMENTS I. Public comments for virtual meetings may be emailed to housing.pub.comments@edmondswa.gov 5. ALTERNATE COMMENTS I. No alternates provided comment Packet Pg. 4 5.a 6. OCTOBER 8 NOTES APPROVAL I. Commission decided to approve the meeting notes from the October 8 Commission Meeting. 7. COMMUNITY INPUT TO DATE —Kate Graham I. Presentation on the community input heard to date including: i. Response rates and demographics across surveys ii. Results and feedback on the ideas presented in Survey #3 — October 2020 • Commission members discussed feedback received for each of the Round 2 policy ideas iii. Trends from the written feedback and the October Online Open House 8. POLICY COMMITTEE UPDATES I. Commission members provided an overview of Renter's Choice Security Deposits and gave updates on the Temporary Multifamily Tax Exemption Program and Inclusionary Zoning. 9. PROJECT TIMELINE I. Commission members decided to add timeline pathway 2.5, which adds a meeting on December 17 and extends the project timeline through January with the option to cancel a meeting as needed. II. Commission members decided to move forward with timeline pathway 2.5, which adds a meeting on December 17 and extends the project timeline through January with the option to cancel a meeting as needed. 10. HOUSING SUPPLY & AFFORDABILITY DISCUSSION I. Commission members decided to move Housing Supply & Affordability to the first item for discussion at the November 12 Commission meeting. 11. WRAP-UP, NEXT STEPS AND ADJOURN — Gretchen Muller and Jasmine Beverly I. Overview of proposed approach for next community engagement efforts. Timeline for community engagement will be reassessed due to the updated project timeline. II. Committees continue to meet to determine recommended next steps for their round 2 policy ideas. Commission will discuss full list of proposed drafts at the November 12 meeting. Packet Pg. 5 Citizens Housing Commission Agenda Item Meeting Date: 11/12/2020 Housing Supply & Affordability Discussion Staff Lead: Shane Hope Department: Citizens Housing Commission Prepared By: Debbie Rothfus Background/History At the October 8 Housing Commission meeting, an interest emerged in discussing the affordability of housing types, especially duplexes and two -unit townhomes. A planned discussion at the Commission's October 29 meeting did not happen, due to time constraints. The item was postponed until the November 12 meeting. Staff Recommendation N/A Narrative Roughly 75% of the Edmonds area is zoned primarily for single-family housing; duplexes or two -unit townhomes are not allowed there. A discussion of whether duplexes and two -unit townhomes would provide more affordable options in Edmonds relates to a policy idea previously introduced by the Housing Types Committee. (See attachment # 1 for the policy idea.) At least one member of the Housing Commission has contended that duplexes and two -unit townhomes would be expensive in a city like Edmonds and therefore would not encourage more affordability. (See attachment # 2 for an email and data list.) An argument could also be made that when only a few duplexes or two -unit townhomes are created, their effect on affordability is minimal but when the supply is significantly increased, the impact on affordability could be more substantial. (See attachment # 3 for an article on housing production.) Next steps: Tonight's discussion may help inform the Housing Commission's future decision on whether to recommend a policy for duplexes and two -unit townhomes in areas of the city where they are not currently allowed. Attachments: Excerpt from Housing Commission Round 1 Policy Ideas Racial Equity Policy McMur.Statement.data Packet Pg. 6 HousingUnderprod uctionInWashingtonState2020-01-10 Packet Pg. 7 6.a Excerpt from Housing Commission Round 1 Policy Ideas Guidelines for Duplexes or Two -unit Townhouses in Single -Family Neighborhoods Background: In Edmonds, lots within single family residential zones can only have one house on them, which includes any allowed accessory dwellings. The house can of any size as long as it fits the lot requirement and height limits for that zone. Currently, duplexes are not allowed in single-family residential zones. Note: Changes to the current guidelines would require a zoning code amendment, which includes a public process. Policy Idea: • Provide development guidance or incentives that encourage duplex or two -unit townhouse buildings in lieu of one large single-family house. U) CU a� 2 0 a Packet Pg. 8 6.b Racial equity and Social Justice Policy Housing Type Committee Packet Pg. 9 6.b Drivers ► Focus on addressing past inequities by providing pathway to building wealth through home ownership Lead with racial equity to lift up all Attainable home ownership through diversified housing type Address "Missing Middle Housing" S 0 0 L 0 Q 06 0 IL W a Packet Pg. 10 6.b Attainably Housing Income Level 50% MFI qqlh Annual Income $51,900 Max. Affordable $186,000 Home Value 80% MFI 100% MFI h1EL. $83,040 $103,800 $370,000 $490,000 Based on: Snohomish County Median Family Income (2020): $103,800 Assumptions: 30% of ones income goes toward housing (mortgage, property taxes, insurance); 5% down, 30yr. fixed rate at 3.5%, $6,000 taxes/yr 5 � '` 115% MFI $119,370 $582,000 Packet Pg. 11 6.b ► Home ownership attainable through smaller housing options Integrating housing styles aesthetically Clear parameters for development and design standards to fit with the neighborhood feel Incentives for alternative types housing for home owners Focus on housing for people with 60-100% AMI c 0 .y N L 0 Q 06 CL tM .y 0 a W E a Q Packet Pg. 12 6.b Housing types in SFR Areas ► Options for single family attached housing ► Duplex, triplex, fourplex, cottage housing Use form -based zoning, for example: Maximum size building without specifying number of units Ratio of size building to size lot S 0 0 L 0 Q 06 N 0 0 IL s w c m E t �a r r Q Packet Pg. 13 6.b Attached Single Family Housing Examples Packet Pg. 14 __ ..�. , G�`.: �. ;'.�� �'�'"� * .�� ;R� �Jk ;Aft , 4-ftt I! .4A 00- LN id IM b O South Edmonds area duplex Packet Pg. 17 0 .y N L O Q 06 Q Q tM .y O :i O a a w r c m M U a r Q IL urn[) �74 I P- reR7: MEA. I! r4%- IC AdOL ka- r 1 ar �1�1.. Hai �til t, - WOO JL ti F -' I+f- �F•.t 7 � �• U - . q6 lfad IN I 1Yf T � -� � • • # I I r rp r-!%P r ,1-5 �7` T �r 6.b Recommended Policy, Encourage racial equity housing options city wide by developing clear parameters (including design guidelines and zoning changes that may encompass tools such as maximum size building or ratio of size building to size of lot) and incentives for development to achieve aesthetically compatible home -ownership housing types (e.g. duplex, triplex, fourplex, cottage housing) for those in the 60-100% AMI categories. Packet Pg. 23 6.c Hello Everyone. The question in the survey relating to "Housing Equity" stated several reasons for how Duplexes, as an example, would automatically provide more housing and ownership opportunities for people in the 60%-100% income levels. It was inferred this will happen by simply allowing this type of MF housing in established SF zoning areas along with adopting various zoning changes, such as form -based code. I have conveyed my concerns to the Commission and Staff on several occasions about how the current and recent inflation factors of property land values, construction costs and historic population growth in the region, do not equate to the creation of housing products that fall into the 60-100% median income levels. The fact that Edmonds is located on just 8 square miles and has very limited available land to develop, is one of main contributing factors and challenges, not to mention its awesome waterfront location and many other desirable factors. The thoughtful power point presentation on "Racial Equity and Social Justice Policy" presented by the Housing Type Subcommittee, explained that the people that fall into the MFI of 50-100%, equate to a max affordable housing price point between $186,000--- $490,000 (page 3 on presentation). I have attached a PDF of all new home construction built in Edmonds in the desirable 98020 zip code, provided to me by Edmonds Windermere. Of the 42 new home units created and sold in the past 1000 days, nearly all the new construction homes sold for over $1 Million. There was one small home that sold for 560k at 1024 sq ft. This is a realistic example of what smaller homes would currently sell for in the 98020 area of Edmonds. My concern is that we, as a Citizens Housing Commission, are making a large generalization/misrepresentation that if we simply encourage and allow Duplexes and other MF housing types in SF zones, it will magically create housing products in the $490k or under range for people in the MFI range of 60%-100%. This recent history of new construction housing products and price points proves otherwise in the 98020 area of Edmonds. As we all know, Edmonds is more than 98020. I have attached a breakdown in the 98026 area code as well. This new construction sales history includes much more townhome proliferation of development and new construction in the Picnic Point neighborhood and Esperance townhome developments near HWY 99. I believe in 2017 and early 2018, these developments did accomplish housing in the stated MFI group as far as I can tell (under $500k). As 2018 progressed, sales of new construction housing products and inflation took hold, with new construction housing products and values approaching the mid-650k range or higher in the greater 98026 area of Edmonds and continues to climb higher in 2020. My conclusion is that new construction of housing products recently built in Edmonds in the 98020 area do not offer any 60%-100% MFI housing on any type of housing product type based Packet Pg. 24 s.� on the past 1000 days of sales from Duplexes to Townhomes and Single -Family products. The 98026 area of Edmonds seems to have achieved some MFI in the 60-100% range of housing with Townhome developments in the past 3 years in Esperance and Picnic Point. The greater 98026 area of Edmonds seems to now be experiencing great housing appreciation and price increases. I believe we need to refine this message that may be sent along to Council and to the public, that certain housing types will automatically equate to providing housing for certain MFI groups of people as a general notion, as it is not the case in Edmonds any longer,. Maybe years ago, but just not in this massive inflationary housing environment that we are currently experiencing. Thank you for considering this current data and I hope to have a broader conversation with everyone about this as a Commission. See everyone tomorrow. Commissioner Mike McMurray Packet Pg. 25 Adam E. Cobb Single Family CMA 2 Line P 6.c ;old Properties Address City Bd Bth Lot Sz SgFt Year CDOM Date SP%OLP Listing # Style Code Area Community $/SgFt Orig Price List Price Sold Price SP%LP 742 Daley St 1437113 21234 80th Ave W 1393896 523 Paradise Lane 1239660 23920 104th Ave W 1223026 9211 Park Rd 1482980 23922 104th Ave W 1220022 22324 92nd Ave W 1421344 23926 104th Ave W 1240028 9338 232nd St SW 1371096 22924 102nd Place W 1222702 9213 224th St SW 1442356 9602 214th Place SW 1331604 23930 104th Ave W 1311456 23926 104th Ave W 1492209 23936 104th Ave W 1354735 22936 102nd Place W 1249986 9340 232nd St SW 1302959 22934 102nd Place W 1223581 22926 102nd Place W 1271319 318 Howell Wy #A 1427807 22514 93rd Place W 1404880 10723 235th Place SW 1552092 22208 92nd Ave W 1286300 9401 234th St SW 1259535 1054 Walnut St 1241713 9116 Main St 1349798 515 Pine St 1333464 Edmonds 15 - Multi Level 730 Edmonds 12 - 2 Story 730 Edmonds 16 - 1 Story w/Bsmnt. 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 15 - Multi Level 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 16 - 1 Story w/Bsmnt. 730 Edmonds 32 - Townhouse 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 12 - 2 Story 730 Edmonds 10 - 1 Story 730 2 1.75 0.240 Edmonds Bowl 3 2.50 0.048 5 Corners 3 3.25 0.200 Downtown Edmond: 5 2.75 0.199 Woodway 3 2.50 0.186 5 Corners 4 2.75 0.187 Woodway 4 3.00 0.230 Edmonds 5 2.75 0.184 Edmonds 5 2.75 0.180 Edmonds 4 3.25 0.200 Westgate 4 2.75 0.225 Edmonds 5 2.75 0.200 Yost Park 5 2.75 0.190 Woodway 5 2.75 0.205 Edmonds 5 2.75 0.226 Woodway 3 2.75 0.280 Westgate 4 2.50 0.190 Westgate 4 3.25 0.232 Westgate 4 3.25 0.180 Westgate 3 2.75 0.081 Downtown Edmond: 5 2.75 0.350 Edmonds 4 3.25 0.251 Edmonds 5 2.75 0.210 Edmonds 5 2.75 0.200 Westgate 5 2.75 0.260 Edmonds Bowl 4 2.75 0.210 Maplewood 3 2.00 0.240 Edmonds 1,024 2019 55 07/18/19 86.16 $546.88 $649,950 $599,950 $560,000 93.34 2,047 2018 42 02/26/19 99.43 $339.52 $699,000 $699,000 $695,000 99.43 3,116 2018 10 03/06/18 100.00 $296.85 $925,000 $925,000 $925,000 100.00 3,277 2017 16 02/01/18 97.92 $297.53 $995,750 $995,750 $975,000 97.92 2,697 2019 9 07/31/19 100.00 $363.00 $979,000 $979,000 $979,000 100.00 3,132 2017 67 02/22/18 98.92 $314.50 $995,750 $995,750 $985,000 98.92 2,800 2019 9 04/30/19 100.00 $352.14 $986,000 $986,000 $986,000 100.00 3,277 2017 6 03/16/18 100.00 $303.86 $995,750 $995,750 $995,750 100.00 2,850 2018 95 03/08/19 96.11 $350.70 $1,040,000 $999,500 $999,500 100.00 3,236 2017 0 01/24/18 100.00 $309.02 $1,000,000 $1,000,000 $1,000,000 100.00 3,000 2019 30 07/02/19 98.35 $338.33 $1,032,000 $1,032,000 $1,015,000 98.35 3,112 2018 12 09/07/18 100.00 $337.08 $1,049,000 $1,049,000 $1,049,000 100.00 3,232 2018 49 10/02/18 100.00 $324.57 $1,049,000 $1,049,000 $1,049,000 100.00 3,277 2018 111 12/03/19 93.75 $320.42 $1,120,000 $1,070,000 $1,050,000 98.13 3,112 2018 7 10/09/18 100.01 $337.40 $1,049,950 $1,049,950 $1,050,000 100.00 3,119 2018 5 03/26/18 100.00 $336.65 $1,050,000 $1,050,000 $1,050,000 100.00 3,115 2018 15 08/03/18 93.48 $345.10 $1,150,000 $1,150,000 $1,075,000 93.48 3,257 2017 0 02/05/18 102.38 $330.06 $1,050,000 $1,075,000 $1,075,000 100.00 3,263 2018 6 05/25/18 100.93 $332.52 $1,075,000 $1,075,000 $1,085,000 100.93 2,700 2019 5 06/27/19 100.00 $403.70 $1,090,000 $1,090,000 $1,090,000 100.00 3,232 2018 12 03/08/19 100.00 $340.35 $1,100,000 $1,100,000 $1,100,000 100.00 2020 33 04/17/20 100.82 $0.00 $1,099,950 $1,099,950 $1,108,920 100.82 3,232 2018 8 07/31/18 102.37 $348.08 $1,099,000 $1,099,000 $1,125,000 102.37 2,850 2018 4 04/17/18 109.52 $403.51 $1,050,000 $1,050,000 $1,150,000 109.52 3,084 2018 7 04/19/18 100.00 $372.89 $1,150,000 $1,150,000 $1,150,000 100.00 2,853 2018 8 10/05/18 94.86 $420.61 $1,265,000 $1,265,000 $1,200,000 94.86 2,235 2018 8 08/16/18 100.42 $536.91 $1,195,000 $1,195,000 $1,200,000 100.42 a Information Deemed Reliable But Cannot Be Guaranteed. Lot Sizes and Square Footage Are Estimates. 10/07/2020 - 10:23AM Packet Pg. 26 Adam E. Cobb 21231 92nd Place W 1655056 9306 192nd Place SW 1395857 932 Olympic Ave 1330277 1137 6th Ave S 1646857 541 3rd Ave N 1219407 305 Caspers St 1388016 301 Caspers St 1357905 709 Spruce St 1608394 303 Caspers St 1306182 713 Spruce St 1647615 753 Bell St 1371785 919 Pine Street 1550937 18626 94th Ave W 1253699 612 7th Ave S 1391984 703 Spruce St 1580413 Single Family CMA 2 Line Edmonds 5 2.75 0.184 3,112 2020 3 09/23/20 12 - 2 Story 730 Edmonds $388.82 $1,200,000 $1,200,000 $1,210,000 Edmonds 4 2.75 0.276 3,220 2019 6 02/28/19 15 - Multi Level 730 Seaview $380.43 $1,275,000 $1,275,000 $1,225,000 Edmonds 4 3.00 0.510 2,857 2018 49 08/30/18 13-Tri-Level 730 Edmonds $454.66 $1,298,950 $1,298,950 $1,298,950 Edmonds 3 2.50 0.190 2,640 2017 2 09/16/20 12 - 2 Story 730 Edmonds Bowl $528.41 $1,395,000 $1,395,000 $1,395,000 Edmonds 4 3.50 0.200 3,755 2017 276 05/23/18 12 - 2 Story 730 Edmonds $372.84 $1,500,000 $1,450,000 $1,400,000 Edmonds 4 3.25 0.390 3,265 2018 123 11/28/18 12 - 2 Story 730 Edmonds Bowl $458.81 $1,498,000 $1,498,000 $1,498,000 Edmonds 4 3.25 0.310 3,108 2018 5 10/18/18 11 - 1 1/2 Story 730 Edmonds Bowl $497.10 $1,545,000 $1,545,000 $1,545,000 Edmonds 5 3.25 0.151 3,343 2020 93 08/12/20 12 - 2 Story 730 Edmonds Bowl $474.13 $1,749,000 $1,585,000 $1,585,000 Edmonds 4 2.75 0.320 3,545 2018 35 07/26/18 12 - 2 Story 730 Edmonds Bowl $449.93 $1,595,000 $1,595,000 $1,595,000 Edmonds 5 3.25 0.150 3,343 2020 0 08/28/20 12 - 2 Story 730 Edmonds Bowl $486.09 $1,625,000 $1,625,000 $1,625,000 Edmonds 4 2.75 0.151 2,980 2018 4 10/22/18 12 - 2 Story 730 Edmonds Bowl $552.01 $1,645,000 $1,645,000 $1,645,000 Edmonds 4 3.25 0.193 4,430 2019 43 04/03/20 14 - Split Entry 730 Edmonds Bowl $405.19 $1,975,000 $1,795,000 $1,795,000 Edmonds 4 2.50 0.290 3,350 2018 33 05/11/18 16 - 1 Story w/Bsmnt. 730 Edmonds $552.24 $1,999,000 $1,895,000 $1,850,000 Edmonds 5 4.00 0.181 3,657 2018 27 02/14/19 12 - 2 Story 730 Edmonds Bowl $553.73 $2,149,000 $2,149,000 $2,025,000 Edmonds 5 2.75 0.151 3,365 2020 31 05/18/20 12 - 2 Story 730 Edmonds Bowl $638.93 $2,195,000 $2,195,000 $2,150,000 3,076 2018 32 Listing Count: 42 Averages: $402.33 $1,252,001 $1,237,394 $1,227,717 Price : High $2,150,000 Low $560,000 Median $1,104,460 P 6.c 100.83 100.83 96.08 96.08 100.00 100.00 100.00 100.00 93.33 96.55 100.00 100.00 100.00 100.00 90.62 100.00 O 100.00 y 100.00 v 100.00 N a 100.00 100.00 100.00 90.89 O 100.00 Q 92.55 08 97.63 94.23 Q 94.23 fn 97.95 97.95 98.38 99.33 Grand Totals Count: 42 Averages: SgFt: 3076 CDOM: 32 OP; $1,252,001 LP: $1,237,394 SP: $1,227,717 Information Deemed Reliable But Cannot Be Guaranteed. Lot Sizes and Square Footage Are Estimates. 10/07/2020 - 10:23AM Packet Pg. 27 Adam E. Cobb Single Family CMA 2 Line P 6.c ;old Properties 4ddress City Bd Bth Lot Sz SgFt Year CDOM Date SP%OLP Listing # Style Code Area Community $/SgFt Orig Price List Price Sold Price SP%LP 14913 48th Ave W #B-2 1370714 14913 48th Ave W #J-3 1212078 14913 48th Ave W #K-3 1220027 14913 48th Ave W #L-2 1223101 14913 48th Ave W #J-2 1209252 14913 48th Ave W #K-2 1214823 14913 48th Ave W #J-4 1206358 14913 48th Ave W #L-2 1489068 14913 48th Ave W #G-2 1235952 14913 48th Ave W #L-3 1233144 14913 48th Ave W #E2 1592567 14913 48th Ave W #N-3 1273640 14913 48th Ave W #P-3 1290447 14913 48th Ave W #P-2 1281735 14913 48th Ave W #M-2 1243697 14913 48th Ave W #A-2 1301095 14913 48th Ave W #N-2 1269967 14913 48th Ave W #H-4 1266097 14913 48th Ave W #G-3 1246483 22924 C 79th Lane W #C 1226571 14913 48th Ave W #H-2 1259254 14913 48th Ave W #K-4 1217458 14913 48th Ave W #H-3 1266254 14913 48th Ave W #J-5 1206362 14913 48th Ave W #M-3 1254900 14913 48th Ave W #K-1 1220031 14913 48th Ave W #J-1 1214819 Edmonds 2 2.25 0.029 1,381 2018 81 11/09/18 100.00 32 - Townhouse 730 Edmonds $289.57 $399,900 $399,900 $399,900 100.00 Edmonds 2 2.25 0.025 1,344 2018 7 01/25/18 100.00 32 - Townhouse 730 Edmonds $297.54 $399,900 $399,900 $399,900 100.00 Edmonds 2 2.25 0.025 1,381 2018 2 03/08/18 100.00 32 - Townhouse 730 Edmonds $296.09 $408,900 $408,900 $408,900 100.00 Edmonds 2 2.25 0.027 1,381 2017 4 03/22/18 100.16 32 - Townhouse 730 Edmonds $296.57 $408,900 $418,000 $409,570 97.98 Edmonds 2 2.25 0.027 1,422 2018 7 01/22/18 100.00 32 - Townhouse 730 Edmonds $288.26 $409,900 $409,900 $409,900 100.00 Edmonds 2 2.25 0.025 1,381 2018 13 03/07/18 100.83 32 - Townhouse 730 Edmonds $297.82 $407,900 $407,900 $411,285 100.83 Edmonds 2 2.25 0.027 1,422 2018 5 01/24/18 100.84 32 - Townhouse 730 Edmonds $292.79 $412,900 $412,900 $416,350 100.84 Edmonds 2 2.25 0.030 1,432 2018 53 10/14/19 97.68 32 - Townhouse 730 Edmonds $293.29 $429,950 $419,990 $419,990 100.00 Edmonds 2 2.25 0.028 1,422 2018 6 04/27/18 100.96 32 - Townhouse 730 Edmonds $295.99 $416,900 $420,900 $420,900 100.00 Edmonds 2 2.25 0.027 1,381 2018 6 03/27/18 102.97 32 - Townhouse 730 Edmonds $305.62 $409,900 $409,900 $422,055 102.97 Edmonds 2 2.50 0.030 1,344 2018 3 06/11/20 100.00 32 - Townhouse 730 Edmonds $323.66 $435,000 $435,000 $435,000 100.00 Edmonds 2 2.25 0.027 1,381 2018 6 07/09/18 100.06 32 - Townhouse 730 Edmonds $318.01 $438,900 $438,900 $439,175 100.06 Edmonds 2 2.25 0.027 1,381 2018 5 07/20/18 100.00 32 - Townhouse 730 Edmonds $319.26 $440,900 $440,900 $440,900 100.00 Edmonds 2 2.25 0.027 1,381 2018 5 07/18/18 100.00 32 - Townhouse 730 Edmonds $320.71 $442,900 $442,900 $442,900 100.00 Edmonds 2 2.25 0.027 1,381 2018 4 05/03/18 103.05 32 - Townhouse 730 Edmonds $320.78 $429,900 $443,000 $443,000 100.00 Edmonds 2 2.25 0.029 1,381 2018 16 07/25/18 100.11 32 - Townhouse 730 Edmonds $321.07 $442,900 $442,900 $443,395 100.11 Edmonds 2 2.25 0.027 1,381 2018 7 07/03/18 102.31 32 - Townhouse 730 Edmonds $323.68 $436,900 $436,900 $447,000 102.31 Edmonds 2 2.25 0.019 1,422 2018 6 06/22/18 100.00 32 - Townhouse 730 Edmonds $316.39 $449,900 $449,900 $449,900 100.00 Edmonds 2 2.25 0.028 1,422 2018 7 04/27/18 100.00 32 - Townhouse 730 Edmonds $316.39 $449,900 $449,900 $449,900 100.00 Edmonds 2 2.25 0.020 1,541 2018 8 02/16/18 100.00 32 - Townhouse 730 Esperance $292.01 $449,990 $449,990 $449,990 100.00 Edmonds 2 2.25 0.021 1,422 2018 4 06/19/18 101.29 32 - Townhouse 730 Edmonds $319.04 $447,900 $447,900 $453,675 101.29 Edmonds 3 3.25 0.037 1,819 2018 3 03/13/18 100.00 32 - Townhouse 730 Edmonds $255.58 $464,900 $464,900 $464,900 100.00 Edmonds 2 2.25 0.019 1,344 2018 6 06/27/18 106.63 32 - Townhouse 730 Edmonds $346.63 $436,900 $436,900 $465,875 106.63 Edmonds 3 2.50 0.040 1,968 2018 9 02/01/18 100.00 32 - Townhouse 730 Edmonds $236.74 $465,900 $465,900 $465,900 100.00 Edmonds 2 2.25 0.027 1,381 2018 5 05/07/18 107.46 32 - Townhouse 730 Edmonds $339.96 $436,900 $467,000 $469,490 100.53 Edmonds 3 3.25 0.037 1,819 2018 27 03/06/18 100.00 32 - Townhouse 730 Edmonds $258.33 $469,900 $469,900 $469,900 100.00 Edmonds 3 2.50 0.050 1,968 2018 3 01/18/18 100.74 32 - Townhouse 730 Edmonds $239.00 $466,900 $466,900 $470,350 100.74 a Information Deemed Reliable But Cannot Be Guaranteed. Lot Sizes and Square Footage Are Estimates. 10/07/2020 - 10:32AM Packet Pg. 28 Adam E. Cobb Single Family CMA 2 Line P 6.c 7232 212th St SW #B Edmonds 3 2.50 0.000 1,568 2017 102 11/21/18 100.00 1378038 32 - Townhouse 730 Edmonds $302.93 $475,000 $475,000 $475,000 100.00 14913 48th Ave W #L-1 Edmonds 3 3.25 0.037 1,819 2017 55 03/21/18 100.86 1224842 32-Townhouse 730 Edmonds $261.66 $471,900 $471,900 $475,955 100.86 7232 212th St SW #C Edmonds 3 2.50 0.000 1,568 2017 140 01/14/19 100.21 1389397 32 - Townhouse 730 Edmonds $303.57 $475,000 $475,000 $476,000 100.21 22924 E 79th Lane W #E Edmonds 2 2.25 0.020 1,541 2018 11 02/21/18 103.48 1228394 32 - Townhouse 730 Esperance $308.89 $459,990 $476,000 $476,000 100.00 14913 48th Ave W #L-4 Edmonds 3 3.25 0.046 1,819 2017 23 03/29/18 101.27 1226598 32-Townhouse 730 Edmonds $262.71 $471,900 $471,900 $477,875 101.27 14913 48th Ave W #L-1 Edmonds 3 2.75 0.037 1,819 2018 10 08/03/20 97.98 1606457 32 - Townhouse 730 Edmonds $266.63 $495,000 $495,000 $485,000 97.98 14913 48 Ave W #K1 Edmonds 3 3.25 0.060 1,819 2018 114 02/05/19 91.51 1364557 32 - Townhouse 730 Edmonds $266.63 $529,990 $484,990 $485,000 100.00 14913 48th Ave W #B-1 Edmonds 3 3.25 0.072 1,819 2018 52 10/09/18 100.00 .. 1354989 32 - Townhouse 730 Edmonds $269.32 $489,900 $489,900 $489,900 100.00 0_ 14913 48th Ave W #P-4 Edmonds 3 3.25 0.037 1,819 2018 107 09/20/18 100.00 N 1359935 32 - Townhouse 730 Edmonds $272.07 $494,900 $494,900 $494,900 100.00 3 U 14913 48th Ave W #A-3 Edmonds 3 3.25 0.040 1,819 2018 103 10/12/18 100.00 N 1359931 32 - Townhouse 730 Edmonds $272.07 $494,900 $494,900 $494,900 100.00 7628 222nd St SW #A-4 Edmonds 2 2.25 0.031 1,525 2019 16 03/11/19 100.00 1403298 32 - Townhouse 730 Esperance $327.84 $499,950 $499,950 $499,950 100.00 7628 222nd St SW #A-3 Edmonds 2 2.25 0.031 1,525 2019 16 03/19/19 100.00 O 1403196 32 - Townhouse 730 Esperance $327.84 $499,950 $499,950 $499,950 100.00 < 7628 222nd St SW #A-5 Edmonds 2 2.25 0.031 1,525 2019 30 03/20/19 100.00 06 1403024 32 - Townhouse 730 Esperance $327.84 $499,950 $499,950 $499,950 100.00 >, 7236 212th St SW #C Edmonds 3 2.50 0.000 1,568 2017 23 06/29/18 100.00 O- 1298225 32 - Townhouse 730 Edmonds $318.85 $499,950 $499,950 $499,950 100.00 N 7909 F 229th Place SW #F Edmonds 2 2.25 0.023 1,401 2018 18 05/25/18 100.00 1270738 32 - Townhouse 730 Esperance $356.88 $499,990 $499,990 $499,990 100.00 N 7909 B 229th Place SW #B Edmonds 2 2.25 0.023 1,401 2018 43 05/11/18 100.00 O O 1252213 32 - Townhouse 730 Esperance $356.88 $499,990 $499,990 $499,990 100.00 2 7628 222nd St SW #C-5 Edmonds 2 2.25 0.031 1,525 2019 125 08/15/19 100.00 to 1416419 32 - Townhouse 730 Esperance $334.39 $509,950 $509,950 $509,950 100.00 7628 222nd St SW #C-4 Edmonds 2 2.25 0.031 1,525 2019 6 04/17/19 100.00 1414973 32 - Townhouse 730 Esperance $334.39 $509,950 $509,950 $509,950 100.00 a� 7628 222nd St SW #C-3 Edmonds 2 2.25 0.031 1,525 2019 5 04/15/19 100.00 y 1414174 32 - Townhouse 730 Esperance $334.39 $509,950 $509,950 $509,950 100.00 r r 7234 212th St SW #B Edmonds 3 3.50 0.000 1,808 2017 8 06/28/18 100.00 N L 1298242 32 - Townhouse 730 Edmonds $282.05 $509,950 $509,950 $509,950 100.00 7909 229th Place SW #C Edmonds 2 2.25 0.020 1,401 2018 7 09/28/20 98.12 U 1647449 32 - Townhouse 730 Esperance $371.16 $529,950 $529,950 $520,000 98.12 M r 14913 48th Ave W #N-4 Edmonds 3 3.25 0.045 1,819 2018 5 07/11/18 100.00 r- m 1269965 32 - Townhouse 730 Edmonds $288.57 $524,900 $524,900 $524,900 100.00 E 14913 48th Ave W #H-5 Edmonds 3 2.50 0.034 1,968 2018 13 06/27/18 100.00 v 1266076 32 - Townhouse 730 Edmonds $266.72 $524,900 $524,900 $524,900 100.00 r 7628 222nd St SW #B-2 Edmonds 2 2.25 0.033 1,525 2019 2 05/30/19 100.00 Q 1437712 32 - Townhouse 730 Esperance $344.23 $524,950 $524,950 $524,950 100.00 7628 222nd St SW #B-3 Edmonds 2 2.25 0.033 1,525 2019 158 10/10/19 100.01 1440618 32 - Townhouse 730 Esperance $344.26 $524,950 $524,950 $525,000 100.01 7628 222nd St SW #B-5 Edmonds 2 2.25 0.033 1,525 2019 1 05/24/19 100.01 1437609 32 - Townhouse 730 Esperance $344.26 $524,950 $524,950 $525,000 100.01 14913 48th Ave W #M-4 Edmonds 3 3.25 0.037 1,819 2018 5 05/11/18 100.03 1255445 32 - Townhouse 730 Edmonds $288.66 $524,900 $524,900 $525,075 100.03 14913 48th Ave W #A-1 Edmonds 3 3.25 0.040 1,819 2018 3 07/23/18 100.03 1297336 32 - Townhouse 730 Edmonds $289.21 $525,900 $525,900 $526,075 100.03 14913 48th Ave W #P-1 Edmonds 3 3.25 0.046 1,819 2018 6 07/12/18 100.15 1285645 32 - Townhouse 730 Edmonds $290.64 $527,900 $527,900 $528,670 100.15 Information Deemed Reliable But Cannot Be Guaranteed. Lot Sizes and Square Footage Are Estimates. 10/07/2020 - 10:32AM Packet Pg. 29 Adam E. Cobb Single Family CMA 2 Line P 6.c 7232 212th St SW #A Edmonds 4 3.50 0.000 2,025 2017 19 07/06/18 100.01 1298266 32 - Townhouse 730 Edmonds $261.73 $529,950 $535,000 $530,000 99.07 14913 48th Ave W #G-1 Edmonds 3 2.50 0.073 1,968 2018 5 05/03/18 101.73 1252365 32 - Townhouse 730 Edmonds $271.39 $525,000 $534,099 $534,099 100.00 14913 48th Ave W #B-3 Edmonds 3 3.25 0.040 1,819 2018 9 08/02/18 100.00 1303998 32 - Townhouse 730 Edmonds $295.16 $536,900 $536,900 $536,900 100.00 7236 212th St SW #D Edmonds 4 3.50 0.000 2,025 2017 3 07/19/18 100.00 1312229 32 - Townhouse 730 Edmonds $266.64 $539,950 $539,950 $539,950 100.00 14913 48th Ave W #H-1 Edmonds 3 2.50 0.034 1,968 2018 5 06/18/18 103.35 1262669 32 - Townhouse 730 Edmonds $275.66 $524,900 $524,900 $542,495 103.35 14913 48th Ave W #M-1 Edmonds 3 3.25 0.045 1,819 2018 6 05/03/18 112.12 1249277 32 - Townhouse 730 Edmonds $300.12 $486,900 $535,000 $545,915 102.04 14913 48th Ave W #G-4 Edmonds 3 2.50 0.049 1,968 2018 4 04/27/18 111.52 1240594 32 - Townhouse 730 Edmonds $277.60 $489,900 $546,310 $546,310 100.00 7706 223rd St SW Edmonds 4 2.00 0.140 1,785 2018 5 04/08/19 101.85 .. 1412781 10 - 1 Story 730 Esperance $308.12 $539,990 $539,990 $550,000 101.85 0_ 22923 E 79th Lane W #E Edmonds 2 3.00 0.023 1,841 2018 15 06/13/18 98.22 N 1282214 32 - Townhouse 730 Esperance $298.75 $559,990 $559,990 $550,000 98.22 22924 A 79th Lane W #A Edmonds 4 3.00 0.031 2,281 2018 7 02/15/18 100.00 N 1226546 32 - Townhouse 730 Esperance $245.50 $559,990 $559,990 $559,990 100.00 22924 F 79th Lane W #F Edmonds 4 3.00 0.037 2,281 2018 7 02/21/18 100.00 1228920 32 - Townhouse 730 Esperance $249.89 $569,990 $569,990 $569,990 100.00 14913 48th Ave W #N-1 Edmonds 3 3.25 0.042 1,819 2018 7 07/02/18 108.63 O 1277758 32 - Townhouse 730 Edmonds $313.46 $524,900 $524,900 $570,175 108.63 Q < 14913 48th Ave W #J-1 Edmonds 3 2.50 0.030 1,968 2018 25 08/11/20 99.66 06 1614761 32 - Townhouse 730 Edmonds $293.19 $579,000 $579,000 $577,000 99.65 22923 F 79th Lane W #F Edmonds 4 3.00 0.032 2,122 2018 145 11/15/18 92.54 O- 1286324 32 - Townhouse 730 Esperance $292.17 $669,990 $619,990 $619,990 100.00 N 20820 72nd Ave W Edmonds 4 2.75 0.060 2,221 2019 30 02/20/20 100.00 1548323 32 - Townhouse 730 Edmonds $291.76 $648,000 $648,000 $648,000 100.00 N 7909 G 229th Place SW #G Edmonds 4 3.00 0.034 2,122 2018 8 04/23/18 100.00 O O 1259653 32 - Townhouse 730 Esperance $306.31 $649,990 $649,990 $649,990 100.00 2 7909 A 229th Place SW #A Edmonds 4 3.00 0.035 2,122 2018 12 04/10/18 100.00 to 1252193 32 - Townhouse 730 Esperance $306.31 $649,990 $649,990 $649,990 100.00 7628 222nd St SW #C-7 Edmonds 3 3.00 0.064 2,223 2019 6 05/01/19 100.00 1427894 32 - Townhouse 730 Esperance $292.40 $650,000 $650,000 $650,000 100.00 a� 7628 222nd St SW #A-1 Edmonds 3 3.00 0.041 2,223 2019 28 07/09/19 100.00 y 1427845 32 - Townhouse 730 Esperance $292.40 $650,000 $650,000 $650,000 100.00 r r 7628 222nd St SW #A-6 Edmonds 4 3.00 0.048 2,223 2019 45 04/25/19 100.00 N L 1408714 32 - Townhouse 730 Esperance $292.40 $650,000 $650,000 $650,000 100.00 20822 72nd Ave W Edmonds 4 2.75 0.060 2,231 2019 3 01/24/20 100.00 v 1548318 32 - Townhouse 730 Edmonds $292.69 $653,000 $653,000 $653,000 100.00 M r 20818 72nd Ave W Edmonds 4 2.75 0.060 2,231 2019 18 02/12/20 100.00 r- d 1545280 32 - Townhouse 730 Edmonds $292.69 $653,000 $653,000 $653,000 100.00 E 7628 222nd St SW #B-6 Edmonds 4 3.00 0.044 2,223 2019 287 03/09/20 97.04 v 1438161 32 - Townhouse 730 Esperance $294.65 $675,000 $664,950 $655,000 98.50 r 7628 222nd St SW #C-1 Edmonds 3 3.00 0.048 2,223 2019 1 04/30/19 100.14 Q 1418960 32 - Townhouse 730 Esperance $296.85 $659,000 $659,000 $659,902 100.14 22923 A 79th Lane W #A Edmonds 4 3.00 0.043 2,122 2018 4 06/05/18 100.00 1281979 32 - Townhouse 730 Esperance $311.02 $659,990 $659,990 $659,990 100.00 7628 222nd St SW #B-1 Edmonds 4 3.00 0.063 2,223 2019 1 05/29/19 100.00 1431119 32 - Townhouse 730 Esperance $308.14 $685,000 $685,000 $685,000 100.00 21254 80th Ave W Edmonds 4 2.50 0.054 2,390 2018 59 03/20/19 100.00 1390352 12 - 2 Story 730 5 Corners $292.47 $699,000 $699,000 $699,000 100.00 21274 80th Ave W Edmonds 3 2.50 0.051 2,390 2018 138 12/14/18 100.00 1378704 12 - 2 Story 730 5 Corners $292.47 $699,000 $699,000 $699,000 100.00 23406 88th Ave W Edmonds 4 3.25 0.092 2,384 2019 15 02/28/20 100.00 1537338 13 - Tri-Level 730 Esperance $293.60 $699,950 $699,950 $699,950 100.00 Information Deemed Reliable But Cannot Be Guaranteed. Lot Sizes and Square Footage Are Estimates. 10/07/2020 - 10:32AM Packet Pg. 30 Adam E. Cobb 23402 88th Ave W 1536023 21250 80th Ave W 1401223 21270 80th Ave W 1368511 21290 80th Ave W 1274151 22029 86th Park W #7 1424393 23408 88th Ave W 1541734 8102 228th St SW 1433820 21276 80th Ave W 1312356 21256 80th Ave W 1295432 5326 160 St SW 1451322 8118 206th St SW 1300086 23202 76th Ave W 1451362 7919 203rd St SW 1386213 7237 Soundview Lane 1581521 7718 238th Place SW 1377331 14829 57th PI W 1641289 8715 236th St SW 1427676 7902 203rd St SW 1562806 19323 80th Ave W 1537818 8717 236th St SW 1428106 19824 86th Place W 1442405 19325 80th Ave W 1532377 7235 Soundview Lane 1568334 8634 184th St SW 1423595 19816 86th Place W 1437859 8632 184th St SW 1423655 8704 188th St SW 1487469 19824 86th Place W 1633515 18807 88th Ave W 1442365 Single Family CMA 2 Line Edmonds 4 3.25 0.099 2,384 2019 2 01/28/20 13 - Tri-Level 730 Esperance $293.60 $699,950 $699,950 $699,950 Edmonds 4 2.50 0.067 2,390 2018 48 04/15/19 12 - 2 Story 730 5 Corners $294.98 $715,000 $715,000 $705,000 Edmonds 4 2.50 0.064 2,390 2018 179 02/07/19 12 - 2 Story 730 5 Corners $297.07 $749,000 $715,000 $710,000 Edmonds 3 2.50 0.060 2,047 2018 10 06/19/18 12 - 2 Story 730 5 Corners $349.29 $715,000 $715,000 $715,000 Edmonds 3 2.25 0.096 2,011 2019 44 05/28/19 12 - 2 Story 730 Edmonds $358.01 $724,950 $719,950 $719,950 Edmonds 4 3.25 0.055 2,384 2019 1 02/10/20 13 - Tri-Level 730 Esperance $304.11 $724,950 $724,950 $725,000 Edmonds 4 2.75 0.240 2,560 2019 166 10/31/19 12 - 2 Story 730 Esperance $292.97 $829,950 $759,990 $750,000 Edmonds 3 2.50 0.050 2,390 2018 4 07/25/18 12 - 2 Story 730 5 Corners $322.18 $775,000 $775,000 $770,000 Edmonds 3 2.50 0.055 2,390 2018 38 07/30/18 12 - 2 Story 730 5 Corners $324.27 $775,000 $775,000 $775,000 Edmonds 5 3.00 0.310 2,642 2019 47 08/06/19 14 - Split Entry 730 Meadowdale $299.02 $797,950 $789,950 $790,000 Edmonds 3 2.50 0.209 2,267 2018 33 08/22/18 12 - 2 Story 730 Edmonds $366.12 $855,000 $855,000 $830,000 Edmonds 3 2.50 0.210 2,700 2019 106 09/05/19 12 - 2 Story 730 Lake Ballinger $322.20 $949,950 $899,000 $869,950 Edmonds 5 2.75 0.240 3,112 2018 61 02/21/19 12 - 2 Story 730 Edmonds $292.42 $949,900 $949,900 $910,000 Edmonds 5 3.50 0.275 3,054 2020 91 07/20/20 16 - 1 Story w/Bsmnt. 730 Edmonds $307.79 $1,049,000 $990,000 $940,000 Edmonds 3 3.50 0.190 2,674 2018 86 01/31/19 10 - 1 Story 730 Lake Ballinger $351.53 $1,025,000 $954,950 $940,000 Edmonds 5 2.50 0.240 2,839 2020 37 09/30/20 12 - 2 Story 730 Edmonds $336.39 $995,900 $995,900 $955,000 Edmonds 4 3.25 0.194 2,940 2019 205 11/26/19 12 - 2 Story 730 Edmonds $331.63 $1,100,000 $975,000 $975,000 Edmonds 5 2.75 0.210 3,065 2020 3 03/06/20 12 - 2 Story 730 Edmonds $321.37 $985,000 $985,000 $985,000 Edmonds 4 2.75 0.180 2,894 2019 14 12/13/19 12 - 2 Story 730 Seaview $343.81 $995,000 $995,000 $995,000 Edmonds 4 3.25 0.191 2,940 2019 155 10/09/19 12 - 2 Story 730 Edmonds $343.20 $1,100,000 $1,009,000 $1,009,000 Edmonds 5 2.75 0.180 2,983 2019 108 08/30/19 12 - 2 Story 730 Maplewood $349.46 $1,184,950 $1,049,950 $1,042,450 Edmonds 5 2.75 0.297 3,277 2019 52 01/16/20 12 - 2 Story 730 Seaview $318.89 $1,065,000 $1,065,000 $1,045,000 Edmonds 5 2.75 0.275 3,403 2020 119 07/22/20 12 - 2 Story 730 Edmonds $314.43 $1,225,000 $1,090,000 $1,070,000 Edmonds 4 3.25 0.232 3,501 2018 243 05/28/19 12 - 2 Story 730 Edmonds $313.62 $1,098,000 $1,098,000 $1,098,000 Edmonds 5 2.75 0.180 2,997 2019 92 08/21/19 12 - 2 Story 730 Maplewood $368.70 $1,184,950 $1,125,000 $1,105,000 Edmonds 4 3.25 0.280 3,490 2018 175 04/12/19 12 - 2 Story 730 Edmonds $325.21 $1,150,000 $1,150,000 $1,135,000 Edmonds 4 2.75 0.274 3,232 2019 73 09/20/19 12 - 2 Story 730 Seaview $355.51 $1,149,000 $1,149,000 $1,149,000 Edmonds 5 2.75 0.180 2,983 2019 3 08/26/20 12 - 2 Story 730 Maplewood $385.52 $1,145,590 $1,145,590 $1,150,000 Edmonds 5 2.75 0.319 3,232 2019 28 06/10/19 12 - 2 Story 730 Seaview $355.82 $1,200,000 $1,200,000 $1,150,000 P 6.c 100.00 100.00 98.60 98.60 94.79 99.30 100.00 100.00 99.31 100.00 100.01 100.01 90.37 98.69 99.36 99.35 O 100.00 y 100.00 v 99.00 N a 100.01 97.08 97.08 91.58 O 96.77 Q 95.80 06 95.80 89.61 Q 94.95 N 91.71 98.43 N 95.89 95.89 2 88.64 to r 100.00 100.00 100.00 100.00 y r 100.00 r 91.73 N 100.00 87.97 u 99.29 r 98.12 98.12 E 87.35 v 98.17 r 100.00 Q 100.00 93.25 98.22 98.70 98.70 100.00 100.00 100.39 100.38 95.83 95.83 Information Deemed Reliable But Cannot Be Guaranteed. Lot Sizes and Square Footage Are Estimates. 10/07/2020 - 10:32AM Packet Pg. 31 Adam E. Cobb Single Family CMA 2 Line 8822 218th St SW Edmonds 5 2.75 0.283 3,000 2018 7 1263106 12 - 2 Story 730 Edmonds $383.33 $1,150,000 $1,150,000 8820 218th St SW Edmonds 5 2.75 0.277 3,110 2018 2 1269118 12 - 2 Story 730 Edmonds $377.81 $1,150,000 $1,150,000 8638 184th St SW Edmonds 4 3.25 0.248 3,427 2018 13 1313017 12 - 2 Story 730 Edmonds $364.75 $1,295,000 $1,295,000 8917 192nd St SW Edmonds 5 4.25 0.660 3,828 2019 10 1499264 18 - 2 Stories w/Bsmn1730 Seaview $359.72 $1,377,000 $1,377,000 18111 84th Ave W Edmonds 5 3.75 0.310 3,350 2020 27 1640265 12 - 2 Story 730 Edmonds $417.91 $1,485,000 $1,485,000 18109 84th Ave W Edmonds 4 4.50 0.349 3,932 2019 171 1573253 15 - Multi Level 730 Edmonds $394.20 $1,600,000 $1,600,000 6614 143rd St SW Edmonds 4 3.50 1.710 3,803 2019 122 1510104 12 - 2 Story 740 Picnic Point $420.72 $1,695,000 $1,695,000 16404 75th Place W Edmonds 5 4.00 0.420 8,151 2018 115 1347317 18 - 2 Stories w/Bsmn1730 Meadowdale $519.57 $4,298,000 $4,298,000 2,153 2018 42 Listing Count : 122 Averages: $313.27 $704,305 $698,018 Price : High $4,235,000 Low $399,900 Median Grand Totals Count : 122 Averages: SgFt: 2153 CDOM: 42 OP: $704,305 LP: $698,018 P 6.c 04/18/18 100.00 $1,150,000 100.00 04/20/18 102.17 $1,175, 000 102.17 07/31/18 96.53 $1,250,000 96.53 09/06/19 100.00 $1,377,000 100.00 09/23/20 94.28 $1,400,000 94.28 05/18/20 96.88 $1,550,000 96.88 12/06/19 94.40 $1,600,000 94.40 11/16/18 98.53 $4,235,000 98.53 O .y N 99.29 v $693,439 99.76 N a $544,205 ca L SP: $693,439 Q 06 N c .y 7 O 2 R r R C N E N r R r N L C� G CV G cd C L V a Information Deemed Reliable But Cannot Be Guaranteed. Lot Sizes and Square Footage Are Estimates. 10/07/2020 - 10:32AM Packet Pg. 32 HOUSING UNDERPRODUCTIO S�. , 5 tir IN WASHINGTON STAT Economic, Fiscal, and Environmental Impacts of Enabling Transit -Oriented Accessible Growth to Address r Washington's Housing Affordability Challeng.e__--,1-,' i r i -A Et A, . . ,, c 64STLAKE & REPUBIL'"N 1��� _ UP FOR ARnWTN® - -`�Packet Pg. 33 6.d •n � C UP FOR GROWTH° Up for Growth is a 501(c)(3) organization that represents a vibrant, diverse, and growing coalition of stakeholders who believe that communities should grow for the benefit of every person. Our mission is to improve equitable, environmental and economic health through strategies that enable vibrant, walkable communities to build housing close to jobs, transportation and amenities. ECONorthwest ECONOMICS • FINANCE • PLANNING ECONorthwest specializes in economics, finance, and planning. We work with public jurisdictions and developers throughout the United States on housing policy issues, including studies related to density bonuses and inclusionary zoning. Our work is used to inform city comprehensive planning, master planning, and site - specific feasibility studies, as well as large-scale housing needs assessments. Our staff hold advanced degrees in economics, community and regional planning, and public administration. ADVISORY BOARD: Up for Growth's Advisory Board comprises leading experts across the housing spectrum, drawn from leaders in accounting, finance, academia, planning, development, and law. The purpose of the Advisory Board is to review and offer feedback on Up for Growth's research agenda. While the Advisory Board's contributions to the organization are invaluable, it should be noted that research released by Up for Growth and reviewed by the Advisory Board is not necessarily reflective of the views of any individual member or their organizations, and should not be characterized as such. In addition, Advisory Board members serve in their own capacities and independently of the organizations and institutions they represent. AUTHORS: Madeline Baron Marley Buchman Mike Kingsella Randall Pozdena, Ph.D. Michael Wilkerson, Ph.D. Melissa Winkler ACKNOWLEDGMENTS: Up for Growth ECONorthwest Copyright @2020 Up for Growth All rights reserved. 1875 K Street NW, 4th Floor, Washington, DC 20006 Phone: 202.716.20641 Twitter: @Up4Growth www.upforgrowth.org c 0 .N N 0 0 r 0 L �0 a 08 Q. a 0 - c .N 0 0 0 0 0 N 0 N N M r n ■ a Printed January 2020 Packet Pg. 34 -+r y� R ++==? CONTENTS WHO WE ARE......................................................2 EXECUTIVE SUMMARY........................................4 INTRODUCTION..........................................5 COST BURDENING..............................................6 NATIONAL HOUSING UNDERPRODUCTION ...... 7 HOUSING UNDERPRODUCTION ........................8 DISTRIBUTING UNDERPRODUCTION ...............10 DISTRIBUTING NEW GROWTH: TWO SCENARIOS..............................................1 2 COST ESTIMATES & PROTOTYPE ASSUMPTIONS .............................14 ENVIRONMENTAL IMPACTS .............................16 INFRASTRUCTURE SPENDING ..........................18 ECONOMIC IMPACTS.......................................19 - FISCAL IMPACTS..............................................22 POLICY DISCUSSIONS & CONCLUSIONS ......... 23 i L I ;t R OLLY F,r r A .L 6.d From 2000 to 2015 Washington state underproduced housing by ' I I approximately 225,600 units, or roughly 7.5% of the total 2015 housing stock.This underproduction has created a supply and demand imbalance MUCED that is reflected in the housing and homelessness crisis playing out in communities across the state. �14 HIGI DENS MORE OF THE SAME GROWTH PATTERN HIGH ACCESSIBLE GROWTH PATTERN 80/0 LOW DENSITY If housing development in Washington continues its current pattern with More of the Same growth, 67% of the 225,600 new hou: units would be single-family homes, while 29% would be "missing middle" (such as accessory dwelling units, duplex, triplex, and qi homes, or courtyard style apartments) and medium -density (podium apartments), and 4% would be in residential apartment towers. I report's scenario -based investigation of development growth potential found that if these 225,600 units were instead developed in Accessible Growth pattern — building to higher -density inside transit corridors and leveraging existing infrastructure — 8% of the new u would be single-family homes, while 54% would fall under the "missing middle" and medium -density category, and 38% would be hi density residential. CLEAR SKIES AHEAD Shifting from current development patterns to an Accessible Growth scenario uses just 12% of the land to deliver the same number of units. These areas would be denser, transit - adjacent, and near employment centers, which could reduce vehicle miles traveled by as much as 36%. E GSP BOOST Using an Accessible Growth develop- ment pattern, cumulative Gross State Product (GSP) increases by $25 billion over a 20-year period compared to a More of the Same growth pattern — delivering a total of $103 billion in cu- mulative GSP over a baseline forecast. STATE TAX REVENUE BENEFITS Building these units in an Accessible Gro development pattern would generate additional $660 million in state revenue sales tax and business and occupation 1 compared to More of the Same developm over the 20-year growth period. 0 N W G 7E L Q 0a Q Q 7 0) C .y 0 x E a UP FOR GROWTH Packet Pg. 36 6.d Washington State is entering its tenth year of solid economic growth, buoyed by strong population growth with new residents seeking jobs, education, and economic opportunities. However, the housing market has not kept up with growing demand, and many communities are reeling from a housing crisis with significant quality -of -life impacts. Challenges stemming from home price escalation, a frenetic sellers' market, strong rent growth, rising application fees, and increasing rates of homelessness are particularly acute in the 1-5 corridor, from Bellingham to Vancouver. In addition, rural areas and smaller towns in Washington are struggling to attract new housing development and to provide housing for households at all income levels. After the global financial crisis and housing market crash in 2008, housing production in many places took years to recover from the historic lows and credit freeze of the recession. While the market was recovering, many Washington cities experienced strong in -migration; generational preferences and household demographics shifted toward walkable, urban housing near transit and amenities; and competition for housing intensified. The resulting imbalance in supply and demand for urban, walkable housing led to rapidly rising rents and home prices, increases in homelessness, and economic displacement of lower -income families and communities of color. While the current supply and demand imbalance was exacerbated by the 2008-2009 recession, in the Seattle -Tacoma metropolitan area and other western portions of the state, it reflects a decades -long trend: restrictive local development and land -use policies motivated by opposition to high -density, affordable, or multi -family housing development in favor of low -density, single-family homes. Local, anti -growth opposition in established single-family neighborhoods has prevented the addition of new units in high -opportunity areas. This has made housing increasingly less affordable to young households and those earning less than the median income, while home values have risen largely for older, wealthier households who already own homes in these areas. In the Seattle -Tacoma metropolitan area, limitations on new housing construction have translated into economic pain for thousands of households in and around the region. In 2017, 48% of all Seattle metropolitan statistical area (MSA) renters paid more than 30% of their incomes on housing, and HUD's biannual count of people experiencing homelessness in King County increased 15% from the prior year. News articles have highlighted families doubled -up or living in their vehicles and those who were pushed to the outer edges of the region in search of more affordable housing. Additionally, the Washington State Department of Transportation noted that vehicle miles traveled on the five major Puget Sound highways increased almost 2% from 2015 to 2017. Some of the barriers to increasing housing production include: Zoning restrictions, biased against high -density sites, that prevent adding "missing middle" units in single-family neighborhoods; • Escalating and misaligned fee structures, such as impact and linkage fees; • Poorly calibrated inclusionary housing requirements; • Lengthy review processes that invite gaming and abuse by growth opponents. Removing these artificial barriers to housing production in Washington's highest -opportunity areas will ease the economic and environmental pain felt by thousands of households across the state. Overcoming the destructive narrative that new housing overburdens schools, strains city finances, and makes traffic worse will require a public conversation that focuses on the benefits of delivering units as cost-effectively as possible in areas residents want to live in. The findings in this report emphasize the need to enact new public -private solutions that increase the supply and reduce the cost of new housing in Washington's urban centers. Because Washington residents place a high premium on protecting forestland and farmland, the state must make the best use of the land inside each growth boundary. The Accessible Growth scenario in this report describes what is possible by reducing limitations on development and constructing dense, new housing around transit corridors: narrowing the gap between supply and demand; leveraging existing roadway and sewer infrastructure and thereby reducing infrastructure costs for local governments; and housing people near jobs, transit, and in high opportunity neighborhoods. Focusing on developing "missing middle" and medium -density housing in underutilized sites and in transit corridors can reduce transportation costs for households while creating net -positive fiscal revenue for local governments. It also adds density in single-family neighborhoods through accessory dwelling units (ADUs), quads and garden -style apartments to increase density in walkable, high -opportunity areas. ■ c m E c� Q Packet Pg. 37 HOUSING UNDERPRODUCTION5 6.d High housing cost burdens occur when incomes lag behind rapidly rising rents and housing prices due to supply shortfalls. Although incomes have begun to rise in recent years, they were stagnant for several decades — while housing costs increased at much higher rates. This divergence has led to increased cost burdening rates across the state. In every county in Washington at least 21% of households experienced high cost burdening in 2017, and in the majority of counties, more than 30% of households were cost burdened. High spending on housing reduces funds available for other family necessities, such as food, medical services, transportation, childcare, and emergencies. Many Washington households are just one emergency — perhaps an unexpected car repair or medical bill — away from eviction or job loss. In addition, point -in -time counts in Washington show that the number of households experiencing homelessness statewide increased almost 16% from 2017-2019, as more people become priced out of their already precarious living situations. This • — Less Than 20% 21 % to 25% 26% to 30% 31 % to 40% - More Than 40% - No Data Available instability is detrimental to job stability and to children's educational outcomes. Access to safe, affordable housing sets the foundation for economic mobility. In addition to impacts on household affordability, this study seeks to understand the social, economic, fiscal and environmental implications of underproduction by assessing the potential for housing production in the absence of regulatory and other supply impediments. The study does not address complementary uses, such as office, industrial, or hospitality development, that would accompany an increase and redistribution of housing units. There are likely significant impacts associated with those related uses, but they have been excluded from the analysis. For the purpose of this study, the focus is on understanding the incremental impact related to housing. It should be noted that this report is primarily interested in investigating the impact of different models for growth, and is therefore not conducting a policy analysis to determine the effectiveness of individual policies to affect an increase in housing production. This is an important area for future study. ■ PERCENT OF HOUSEHOLDS THAT SPEND MORE THAN 30% OF GROSS INCOME ON HOUSING, 2017 Source: St. Louis Federal Reserve GEFRED MINN. +• " 6`� E ■ s%, AN �. 2 VPy ■ill■ � t �i■ ■a ■ ■ � * r.. Yee; . l D r �■ `i ■' ■ ■■■ ■■■ l o 1►- W ■ COST BURDENING Households are considered "cost -burdened" when they spend more than 30% of their gross income on housing expenses (not including transportation costs). While it is a commonly used measure of the maximum amount that should be spent on housing, it fails to consider that cost burdening disproportionately affects low-income households, who have very little discretionary income after paying for housing, transportation, childcare, and medical expenses. Packet Pg. 38 6 UP FOR GROWTH Q 6.d Up for Growth's national report on housing underproduction was released in April 2018 and highlights the economic, political and social consequences of housing underproduction ---------------- HOUSING caused by inefficient land -use policies UNDERPRODUCTIONel,ti, and overly burdensome regulations. A It also demonstrates the potential ., economic, environmental, and fiscal "• ds�" = benefits that could occur if housing .. ..nn. w ■ ' development shifted from the status quo to an Accessible Growth pattern, similar to the one detailed in the following pages. The report calculates the total number of units underproduced on a national level from 2000 to 2015 by using an econometric statistical model to estimate each state's historic relationship between the production of housing units and a host of demand -side indicators. It approximates each state's baseline housing production through 2000 and forecasts the number of units that would have been produced in 2015 if each market maintained the historical national average (supply elasticity). Using the actual number of housing units in 2015, the report calculated the total units that were under- or over -produced from 2000 to 2015 at the state level. The study finds that 23 states underproduced housing units from 2000 to 2015. The remaining 27 states produced enough housing at the statewide level, although there may be imbalances and underproduction in certain cities within each state. Residents facing supply shortages and price increases in populous urban locations are not DATA INPUTS TO helped by surplus housing elsewhere THE MODEL INCLUDE: in their state. • HOME PRICES • POPULATION The data needed to replicate the • INCOME national report's methodology for •HOUSING STOCK Washington are not available for smaller units of geography (such as counties). Recognizing that housing markets are regional and need to be examined locally (rather than at the state level), this report offers three different methods to evaluate the imbalance in supply and demand at the county level, which are detailed on pages 8 through 11. The remainder of the report focuses on the economic, fiscal, and environmental benefits of producing housing at the state level, using the statewide underproduction figures from the national study. ■ 225,600 WA UNITS UNDERPRODUCED NUMBER OF NATIONAL HOUSING UNITS UNDERPRODUCED FROM 2000-2015 ESTIMATED REDUCTION IN STATEWIDE HOME PRICES IF ALL UNITS PRODUCED OVER 20 YEARS* 21.7% 15.8% c 13.4% c _ 8.0% 73% a _ 7.0% - 6.3% c a c 05.5% c 5.4% 5.0% c m E 1 4.5% a 14.3% 5.0% 10.0% 15.0% 20.0% *The chart above displays the states with the largest price reductions associated with developing their underproduced housing over the 20-year growth period. For example, if 225,600 units were built in Washington over the next 20 years, prices would be 4.3% lower than they would have been absent this additional production of units. This does not mean that prices would be reduced from current levels, but that prices would be lower in the future than they would have been due to the increase in the number of housing units. Packet Pg. 39 HOUSING UNDERPRODUCTIO 7 6.d RATIO OF HOUSING STARTS TO HOUSEHOLD FORMATION At its most basic level, a functioning housing market needs to produce at least one new housing unit for each new household formed. When factoring in demolition, second homes, changing consumer preferences, and the deterioration of the existing housing stock, this ratio actually needs to be higher than one-to- one. Nationally, the historic ratio (from about 1960 to 2017) has been closer to 1.1 housing units for every new household formed. It is difficult to determine the appropriate ratio of housing production to household formation for a given market, because the variables are related (otherwise known in economics as "endogenous"). This means that the rate of housing production influences the rate of household formation and vice versa. Despite the complicated relationship, this simple ratio can be a helpful guidepost for measuring underproduction. Using this measure, it is clear that Washington State has underproduced. From 2000-2017, the state produced only 0.99 units for every household formed, including the building boom, subsequent bust, and most recent increase in housing construction. Although this time period includes the building boom in the run up to the housing market crash, this rate of production falls short of the national benchmark by 11 units per 100 households. During the recovery from the housing market crash — from 2010 to 2017 — housing production fell further behind household formation. Although it may seem like development is thriving in some areas, many counties are still not producing enough housing to meet new household growth. Over this time period, only 10 of 39 counties produced more than 1.1 units per new household. The map below lists the ratio by county from 2010 to 2017 — statewide 68 units were produced for every 100 households formed. COUNTY -LEVEL RATIO OF HOUSING UNITS VS. HOUSEHOLD FORMATION (2010-2017) com .. , O.bS ry San7ua Fer' i 0.76 1.3� �f 1.6 Clallam Steven§11111 0.63 O:A't Snohomish 0.65 ish 1.08 Jefferson Douglas 0.71 0.86 Spokane King i' 0.73 Masan Tr 0.65 0.62 Grays Grant Harbor Kittitas 0.91 0.8 Pierce 0.66 Thurston 0.64 Whitman 0.76 0.32 _ Less than 0.5 Lewis 0.5 0.75 0.46 Yakima FraO 81�n Garfield 0.75-1.0 0.86 ' . _ 1.0-1.1 Cowlitz Benton1 01 Wa 0W alla As 65n 0.66 _ More than 1.1 Decrease in households Clark 1.26 0.77 pj� — I Source: U.S. Census, Washington Office of Financial Management Packet Pg. 40 Q 8 UP FOR GROWTH 6.d Washington's robust and growing economy has been fueled by strong population growth. Simultaneously, however, an increasing number of households are leaving the state in search of more affordable housing options. Across Washington, two themes have emerged: 1) highly populated urban centers have seen home prices grow to an unsustainable level while, 2) exurban and suburban areas have grown with households seeking more affordable housing. This imbalance leads to transportation and environmental challenges as households are pushed farther away from jobs, education, and economic opportunities. Prior to the Great Recession, the statewide ratio of primary jobs (which is different than total jobs because it does not double count secondary or multiple part-time jobs, so is a good measure of people with jobs) to housing units was about one to one. More recently, the state has been adding jobs and attracting newcomers at a greater rate: from 2010 to 2017, the state added 2.24 primary jobs for every new housing unit. Given the complex relationships of regional economies throughout the state, it is not realistic to assume a perfect balance of jobs and housing will occur in any area. Not every person desires to live in the county where they work. This is certainly the case in the high population centers where regional economies straddle multiple counties. However, regional imbalances between job growth and housing unit production can cause problems for housing affordability as workers compete for limited housing, for traffic as commuters drive for housing, and for emissions as congestion worsens, among other issues. Workers filling new jobs need some place to live. The map below displays the location of employment (rather than the workers' locations of residence), which is helpful in understanding the transportation and environmental impacts of an imbalance between jobs and housing. Some areas saw less job growth than housing production (ratios below 1.0) while others — like King County — saw far more new jobs than new housing (more than 3.3). In counties with large imbalances, rents and home prices have rapidly increased and have even surpassed the previous housing bubble's peak prices. If these ratios worsen in the short run, substantive policy interventions may be necessary to bring the ratio of jobs -to -units back into longer -term equilibrium. ■ COUNTY -LEVEL RATIO OF JOBS CREATED VS. HOUSING UNITS PRODUCED (2010-2017) San Juan 11 0.76 a C la lla m Islam 0.63 0.83 Jefferson ; Kitsap Mason 0_99 Grays iFf 0.4A2.02 Harbor0.66 ■ ific Lew 4 1.03 - Greater than 3.0 4ahki _ 2.0-3.0 aku 0.7 Cowlitz - 1.0-2.0 1.95 0.5-1.0 Less than 0.5 No increase in jobs or data not available Whatcom 1.63 Ferry Okanogan 0.98 Pend ka 0.53 Oreille s v Stevens nohomis �0.66 2.12 Chelan 1.93 i)oug� . 2.34 Lincoln Spokane Kittitas IjPY121 ia2.9 Skamania Klickitat 2.81 Grant Adams . r%N� P Franklin Garfield 1.45 Columbia Benton Walla Walla 0.27 1-26 0.82 Q Source: Washington Office of Financial Management, U.S. Census Bureau LEHD Origin -Destination Emp Packet Pg. 41 HOUSING UNDERPRODUCTIO 9 6.d The 225,600 units underproduced since 2000 represent the need for a mix of housing — ownership and rental — that are affordable to a range of incomes. The econometric model used to calculate this underproduction relies on statewide data and does not differentiate underproduction based on location within the state, nor underproduction by price or income level. While underproduction at the state level can help inform the order of magnitude of needed housing, more geographic specificity is required to create nuanced policy solutions. The previous two county -level maps showing household formation and job creation versus housing production provide a good starting place to understand which counties experienced the most underproduction. To evaluate housing need by income and location, the following approach measures the change over time in the number of households at different Area Median Incomes (AMI) and the change in the number of units affordable to those AMIs. If housing markets were in equilibrium, the change in the number of households should roughly correspond to a similar change in the number of units. However, due to the mechanisms of development feasibility requiring rents high enough to offset the costs of borrowing and construction, most markets do not operate in equilibrium and therefore do not provide enough housing at the lowest income levels to meet the demand. Using American Community Survey (ACS) county -level data from the Census Bureau, this analysis evaluated the change from 2000 to 2017 in the number of households by AMI level UNIT NEED and the number of units that are affordable to rent at the corresponding AMI levels (assuming households pay 30% of gross income on housing costs). Because housing prices and rents in Washington State have increased faster than incomes over time, the prevalence of cost burdening has increased. This analysis focuses on low- and moderate -income (80% or less of AMI) renter households because they have been priced out of many housing markets, as demand outpaced production pushing prices upward. Quantifying the gap in housing that is affordable at other income levels would be preferred (such as renter households making 0-30% of AMI or 30-60% of AMI). Unfortunately, the data does not permit the ability to accurately distinguish need for these additional groups due to margins of error in the data for small geographies. CHANGE IN RENTAL UNITS AND RENTER HOUSEHOLDS EARNING LESS THAN 80% AMI IN WASHINGTON STATE ° INCREASE IN UNMET NEED SINCE 2000 UNMET UNIT NEED IN 2000 I181K UNIT GAP INCREASE UNITS THAT ARE AFFORDABLE 2000 2017 L Source: ECONorthwest KING COUNTY 105,000 UNITS 10 UP FOR GROWTH 6.d This approach finds that many counties throughout the state did not produce enough units affordable to renter households earning 80% or less of AMI to meet the growing number of households in these income brackets. Since 2000, the state underproduced 181,000 rental units for households earning 80% or less of AMI relative to the increase in the number of households formed in these income levels. These 181,000 units are equivalent to about 80% of the 225,600 units underproduced statewide over the 2000- 2015 time period. The remaining 20% are a mix of ownership product and workforce rental units affordable to households earning more than 80% of AMI. The chart on the prior page shows the variation between the number of households formed (80% AMI and below) and the number of units that are affordable to this income group for each county. The calculated 181,000 units are not representative of total need, but rather the increase in need since 2000 for individual counties statewide. Urban counties with the highest populations throughout the state account for the majority of the underproduced rental units for households earning less than 80% of AMI. To represent the need for units in counties with vastly different populations, the map below shows the underproduced rental housing as a share of the total renter households earning less than 80% in 2017. For example, based on this analysis there were 105,000 units underproduced in King County. There were 223,400 renter households earning less than 80% of AMI in 2017, so the underproduced units are equivalent to about 61% of all renter households. This analysis demonstrates the need for more rental units available to households earning less than 80% of AMI in the most populous areas of the state. ■ UNITS UNDERPRODUCED FROM 2000 TO 2017 AS A PERCENT OF TOTAL RENTER HOUSEHOLDS EARNING BELOW 80% AMI SANJUAN 24% &061166 JEFFERSON 7% MASO 33% GRAYS HARBOR 19% PERCENTAGE OF STOCK PACIFIC UNDERPRODUCED 12000-20171 WAHKIAKUM 0% - 5% 14% 6% - 25% 26% - 45% 46% - 60% _ 61%-65% NO UNDERPRODUCTION WHATCOM 13% SKAGIT ISLAND SNOHOMISH __. CHELAN 2% LEWIS 34 , SKAMANIA 4°/a CLARK 42% KITTITAS B% YAKIMA 2% KLICKITAT 15% OKANOGAN 5% DOUGLAS 11% GRANT PEND FERRY OREILLE 33% 9% STEVENS SPOKANE LINCOLN 2% 21% ADAMS WHITMAN 'D 4% 14% a c .N 3 FRANKLIN GARFIELD = COLUMBIA; BENTON WALLA WALLA ASOT IN ° 11 /o E b /° 15% t V fC The shaded colors represent each county's shortage of housing for households earning at or below 80% of AMI as a percent of the total number of households at or below 80% of AMI. Q Source: U.S. Census, Washington Office Packet Pg. 43 HOUSING UNDERPRODUCTIO 11 6.d These three different methods for calculating the underproduction of housing (1. The national estimate using a statistical model; 2., The ratio of housing starts to household formation; and, 3., The rate of change in households earning at or below 80% AMI and the units affordable to them) all demonstrate the same trend: Washington State has not produced enough housing since 2000 to meet demand in different counties and at different income levels. Given three different lenses into Washington's housing underproduction, the rest of this report analyzes two potential development scenarios that quantify how the 225,600 statewide housing units could be developed if there were fewer land use regulatory barriers in place. The report constructs two development scenarios to test the implications of policies that encourage housing production in a denser, more cost efficient manner, compared to an approach that perpetuates the development patterns seen since World War ll, which favors detached single-family homes. The report then compares the economic, fiscal, and environmental impacts associated with the two development patterns. The report finds that continuing to build the same types of units in the same location is unlikely to provide a feasible solution that delivers a range of housing units along the entire income spectrum of households. The two development scenarios are: • A More of the Same approach distributes housing and density as they have been in the past, compared to • An Accessible Growth approach that leverages existing infrastructure by building housing at higher densities around high -capacity transit and in high -opportunity neighborhoods. It is important to note that both scenarios produce the same number of total housing units. The differences lie in the varied building prototypes — single-family homes, "missing middle" and medium -density housing, and residential towers — that would be produced in each scenario (See pages 14-15 for details on the building prototypes). To distribute this new housing development, the 2015 housing density is calculated in Units Per Acre (UPA) at the census "block group" level — an area with 600 to 3,000 people that varies in size based on population density. To account for areas that cannot easily accommodate additional development (i.e. water, wetlands) and with a goal of preserving natural areas (forests and farmland), the housing density is adjusted using the 2011 National Land Coverage Database's satellite imagery data to include only those areas considered to be "developed." HOUSING UNITS PER ACRE (ADJUSTED FOR BUILDABLE LAND), SEATTLE METRO AREA ADJUSTED DENSITY: Less Than 1 1-2.9 3-4.9 - 5-12.49 _ 12.5-29.99 _ 30 or More rAW Q Source: NLCD 2011, U.S. Census 12 UP FOR GROWTH Packet Pg. 44 6.d To take advantage of existing infrastructure and to avoid increasing the footprint of land required to accommodate additional units, new development is not added in areas with density below one UPA. The map on the prior page shows the existing adjusted housing density for the Seattle Metro Area. MORE OF THE SAME GROWTH The More of the Same Growth scenario looks at the current share of single- family homes, "missing middle" and medium -density units, and high-rise towers across the state, and assigns new growth proportionally above the threshold of one UPA. For example, if the state has only 5% of dwelling units in high- rise towers, it will get 5% of new growth as high-rise towers. Building prototype proportions are estimated using the matrix on page 15, which uses examples from the existing built environment and block group densities from 2010 to determine the estimated mix (See page 15 for more details on prototype selection). ACCESSIBLE GROWTH The Accessible Growth scenario assigns new housing units based on a formula of existing density, distance to transit stops, and the share of commuters in the census block group who drive their own vehicles to work. The goal of the Accessible Growth scenario is to increase density in a way that conforms with the existing urban form, focusing on delivering lower -cost mid -rise units, and most importantly, locating units in transit corridors to reduce Vehicle Miles Traveled (VMT) and the number of cars on the road. In order to achieve these goals, unit distribution was prioritized in: Locations within a quarter mile of existing transit stations; 2. Locations within a half mile of a high -capacity transit station; 3. Non -transit corridor locations with a low share of people using private transportation to commute to work (A proxy for low VMT, described on pages 16 and 17). The majority of units (77%) were assigned within one mile of transit stations due to the low share of private vehicle commuters. Throughout Washington state, 57% of units were located within a half mile of stations, and 39% of units were within a quarter mile of transit stations. To achieve higher densities in priority areas, the addition of new units could triple existing density within the first quarter mile of transit stations (subject to a cap of 150 UPA) and could double existing density from a quarter mile to half mile (subject to a cap of 120 UPA). ■ SEATTLE ACCESSIBLE GROWTH SCENARIO 4 or ACCESSIBLE GROWTH TOTAL UNITS ADDED Less Than 1,000 1,001-2,000 - 2,001-3,000 - 3,001-4,000 _ More Than 4,000 This map displays where new units would be built in Seattle under an Accessible Growth scenario. As the map demonstrates, new housing units are distributed near high -capacity transit areas and in areas that already have high -density towers to align with the current built form. Q Packet Pg. 45 HOUSING UNDERPRODUCTIO 3 6.d id..10-Ai From an urban planning and design perspective, the additional units built in each block group match the existing housing prototypes observed in that block group. The goal is to minimize neighborhood opposition, where adding new high -density housing units in block groups with mostly single- family homes would drastically change the neighborhood composition. Each block group is assigned a prototype distribution based on the existing density of that block group (which can be seen on the matrix on page 15). The cutoffs for the prototypes were determined by looking at satellite imagery of block groups and attempting to find breakpoints that matched the existing distribution of prototypes. The images on page 15 demonstrate examples of existing neighborhoods with different levels of housing density. The image on the left is the upper limit of density — showing a block group with 150 units per adjusted acre. Adjusted densities measure gross land and include right of ways and other non-residential uses. The achievable density on a residential parcel in this area is higher than the average density for the block group. The picture on the right shows a block group with 30 units per adjusted acre. In the Accessible Growth scenario, block groups with more than 30 units per acre will receive additional housing units until they look more like the picture on the left. Similarly, block groups with density between 12.5 and 30 units per acre (less dense than the photo on the right), would receive a variety of "missing middle" housing to achieve higher densities. The table on page 15 details this density distribution. Each growth scenario builds the same number of total units, but differs on the types of prototypes built (single-family homes, medium -density units and towers). Each development prototype has different construction costs and different infrastructure investment requirements. The two different growth scenarios allow for comparison of the same number of units produced with different development patterns. For example: • Infill projects located in urban cores do not require new roads and require only minor infrastructure investment compared to fringe and greenfield developments. • Building near transit infrastructure reduces vehicle miles traveled (VMT) and emissions (See discussion on page 16). • "Missing middle" housing can be built in high -opportunity single-family neighborhoods and can be built at a lower cost per unit than the existing stock of housing. These units can also be well -integrated into existing neighborhoods. • Obtaining better balance between jobs and housing improves agglomeration benefits and reduces the traffic congestion in a region. c a� E t c� Q 14 UP FOR GROWTH Packet Pg. 46 6.d DENSITY DISTRIBUTION & PROTOTYPE MATRIX 30.0+ Units per acre 12.5-30 Units per acre 5.0-12.5 Units per acre MMA 3.0-5.0 Units per acre 1.0-3.0 Units per acre Less Than 1.0 UPA The table above shows the prototype distribution for the Accessible Growth scenario. Block groups with more than 30 UPA see 100% of new units added in towers, until they reach the density threshold for that scenario based on the location of the block group. The scenario distribution then moves to the next -densest block group and adds units in a 50% tower and 50% medium - density mix. This continues further, adding additional medium - density units and, finally, single-family units until the total number of units underproduced has been allocated. The net result of the prototype allocation is to achieve higher densities than what is currently observed by including a mix of units to better utilize the existing infrastructure. WASHINGTON PROTOTYPE DISTRIBUTIOI BY GROWTH SCENARIO TO 60 50 40 30 20 10 0 MORE OF THE SAME ACCESSIBLE GROWTH = SFH = Medium = Tower The More of the Same scenario does not use a distribution are allocated in each growth scenario. Continuing a More mechanism because it assigns new growth proportionally based of the Same approach throughout Washington state would on the currently observed distribution of prototypes. For example, deliver 68% of new units as single-family homes. Under the an area with only 5% of units in high-rise towers will see that same Accessible Growth scenario, single-family homes would share of new units built as high-rise towers. be reduced to just 8% of newly produced units. Accessible Growth focuses on delivering more "missing middle" units, The chart demonstrates this distribution pattern, showing how increasing these units to 54%, as opposed to just 29% in a many towers, medium -density units, and single-family homes More of the Same approach. ■ HOUSING UNDERPRODUCTIO 5 The goal of the Accessible Growth scenario is to generate more high -density, transit -oriented housing while improving economic, fiscal, and environmental impacts compared to the More of the Same scenario. The Accessible Growth scenario, therefore, prioritizes assigning unit growth in existing high - density areas in transit corridors. At its most basic level, Accessible Growth achieves higher density than current housing development patterns, and therefore requires less land to accommodate the same number of units. In Washington, Accessible Growth requires just 12% of the land area needed in the More of the Same scenario. Utilizing less land means higher economic efficiency for local jurisdiction service delivery, as well as environmental benefits such as storm water remediation and undisturbed land for forestry and farming. In addition to land -use benefits, locating housing near public transportation reduces the burden of cars on the road. To quantify the benefits of locating housing units in transportation corridors, a first -of -its -kind model was developed to estimate the VMT of a neighborhood based on the characteristics of the built environment at the census tract level. The study finds a very strong relationship between VMT and the proportion of households who commute by car and truck (also known as "commute mode split") as demonstrated by the scatterplots on page 17. HOME -BASED VMT PER HOUSING UNIT _ Less Than 10 - 10-20 = Greater than 50 The map below shows commuting VMT for the Seattle Area, with transit stations overlaid. The green and blue areas near transit demonstrate where Accessible Growth units would be prioritized for distribution. These areas have very low VMTs of about 10 miles. By prioritizing housing in areas with transit and low VMTs, the Accessible Growth scenario would result in 2.3 million fewer miles traveled daily for commuters compared to the More of the Same scenario. This difference is equivalent to 74,000 fewer cars on the road annually. ENVIRONMENTAL IMPACT OF ACCESSIBLE GROWTH: LOWER VEHICLE MILES TRAVELED OM Q 16 UP FOR GROWTH Packet Pg. 48 The Accessible Growth approach has the largest increase in transit corridor density. With the relationship between VMT and commute mode split clearly demonstrated, increasing density in transit corridors would be an important way to reduce VMT and leverage public infrastructure investments. The scatterplots below compare housing density and daily commuting VMT for transit corridors (dark blue dots) and non - transit corridors (light blue dots) in Washington at the block - group level. These scatterplots demonstrate that commuting VMTs are lower in transit corridors than in non -transit corridors, with a median of 16 VMT and 29 VMT, respectively. They also show that the median transit corridor block group has a higher housing density than the median non -transit corridor block group, with eight units per acre compared to two units per acre, respectively. In addition: ■ The majority of transit corridor block groups have VMT below 20 miles. ■ Almost all the transit corridor block groups have low commute mode splits (under 50%). ■ Almost all the highest -density block groups are in transit corridors. ■ There are few outliers in either scatterplot, indicating strong relationships between VMT and housing density and between VMT and commute mode split. RELATIONSHIP BETWEEN COMMUTERS WHO DRIVE AND PREDICTED VMT IN WASHINGTON 40 Within 1/4 Mile of HC Transit Outside 1/4 Mile of HC Transit 40 201 The Accessible Growth strategy has numerous benefits beyond increasing Gross State Product, jobs, tax revenues and housing density. The Accessible Growth strategy also delivers meaningful environmental benefits compared to the More of the Same housing development pattern. ■ ACCESSIBLE GROWTH BENEFITS VMT PER DAY CARS PER YEAR MEDIAN HOUSING 99TH % HOUSING DENSITY DENSITY OUTSIDE 1/4 MILE 1.5 11.3 WITHIN 1/4 MILE 7.9 52.2 MEDIAN VMT 99TH % VMT OUTSIDE 1/4 MILE 29.7 58.9 WITHIN 1/4 MILE 16.9 30.5 40 20 RELATIONSHIP BETWEEN HOUSING DENSITY AND PREDICTED VMT IN WASHINGTON a 0 25% 50% 75% 100% PERCENT OF COMMUTERS WHO DRIVE 0 20 HOUSING DENSITY Packet Pg. 49 HOUSING UNDERPRODUCTIO 17 6.d As cities grew in the post -World War II era, high rates of new housing unit growth paid for costly infrastructure projects that were generally funded by local governments with federal- and state -level subsidies. More recently, as rates of growth have decreased, cities have struggled with funding new infrastructure to support growth. This forms a classic "Catch-22." COMPARING GROWTH SCENARIO IMPACTS 22K A new single-family homes have increased faster than inflation over the past decade. Nationally, 60% of new single-family homes are priced at more than $300,000, 20% higher than at the peak of the previous housing bubble. Remedying the problem requires cities and municipalities to compare the cost of developing new infrastructure to the associated fee revenues from that development. What are the infrastructure costs and tax revenues from a single-family home in a greenfield, and how does that compare to the costs and revenues associated with medium- or high -density development in the urban core? 22.5E 1.50B In the early stages of sprawl, new growth fueled the expansion, while long-term maintenance obligations had not yet been 528M 64M incurred, so net -negative infrastructure costs were still a minor issue. However, this dynamic is changing, and infrastructure Infrastructure is needed to make greenfield development possible, but the cost of infrastructure limits the ability to develop in these "green fields" In most cities and metro areas around the country, the prime developable areas have already been consumed. The remaining areas available for development either require costly infrastructure upgrades or are faraway from existing infrastructure. As a result, the cost -per -unit of infrastructure has increased over time as homes are built even farther from urban cores. Cities and local governments have reacted to higher infrastructure costs in rational ways: by raising fees to cover the higher costs of installing new infrastructure. However, this response ignores difficult questions: Do the revenues generated by new units support the up -front costs? More importantly, do recurring incremental revenues cover the continued public operations and maintenance costs of this new infrastructure? The short answer to both questions is `no,' particularly for low -density housing in greenfield locations that requires new infrastructure. Because infrastructure costs for a single-family home typically exceed the local government revenues collected from such a home, municipal debt is used to finance the required infrastructure. However, adding new debt service limits the ability to properly maintain existing facilities, which leads to increased costs for deferred maintenance. In the long run, an existing property tax base consisting of primarily single-family homes cannot support the installation of new infrastructure as well as the deferred maintenance costs of all the existing roads, sewers, and other infrastructure. Continuing to build new housing units away from the existing infrastructure in urban cores not only fails to remedy the problem, it exacerbates it. Consequently, development costs and prices of costs must rise to cover the costs of ongoing operations and maintenance. Cities now face unfunded operating liabilities that will require new units to bring in more revenues to cover the associated costs of installing and operating the infrastructure that services each unit. This profitability is necessary if there is hope to "right -size" municipal budget problems, and there are several ways to do this: • Growth policies can target areas that already have existing infrastructure, thereby reducing the demand for increased infrastructure investment. • Policies can also set impact and development fees on a per -acre, gross land, or square -foot basis, rather than a per -unit basis to reflect the true infrastructure costs and support density. This report demonstrates that changing development patterns for the 225,600 units that were underproduced a in Washington state can have positive effects for local rn government infrastructure funding. If these units are built in c an Accessible Growth pattern, 88% less land would be needed = compared to building in a More of the Same approach (2,700 acres compared with 22,300 acres). Furthermore, the cost E of infrastructure is 15 times smaller in the Accessible Growth UM approach — $1.5 billion compared with $22.5 billion in the Q More of the Same approach. ■ 18 UP FOR GROWTH Packet Pg. 50 6.d This study is the first to use the Regional Economic Model (REMI) to simulate large-scale housing development. REMI is a structural representation of a regional economy and uses publicly available data to build an economic forecast. Variables can be altered to reflect changes in public policy (e.g., lower taxes, new regulation, or new consumer preferences). The model simulates the economic impacts of such policy changes and produces a new forecast capturing these effects. By comparing the simulated forecast to the baseline forecast, the economic impacts of the policies modeled can be quantified. The model contains feedback loops to capture the cumulative impacts of development spending, as well as any time -based changes to the structure of the economy, such as migration, induced demand, lower costs, supply chain spending, and tax effects, among others. Any change to one sector of the economy will ripple through the others. This is beneficial, as the model is able to capture the relationships between different economic and demographic changes, such as migration, government spending, personal income, and more. The Accessible Growth scenario produces a substantial boost to economic growth: A housing expansion under this scenario would produce a $102 billion cumulative increase in Washington GSP through 2037 compared to the baseline economic forecast. �> .� ■� i., M i.r .E iR i�i .•, � *� �at fir+ ��f ■� � ir • 1 ►ti ASSUMPTIONS 0 HARD CONSTRUCTION COSTS Calculated based on industry Q standards for the three different housing prototypes and varied 06 % across each state. Q. a SOFT CONSTRUCTION COSTS Primarily architecture, engineer- in ing, and legal costs (excluding financial costs), assumed as a percentage of hard costs. o INFRASTRUCTURE COSTS Includes installation costs and = ongoing operations and maintenance costs. Paid for by impact o fees estimated by state. Assumes government sector pays for infrastructure not covered by impact fees, through bond issuance.. e SOURCE: Arup Engineering based on real data from developments in California, adjusted regionally. 1b ADDITIONAL HOUSING PRODUCTION PER YEAR 16,000 MAX 7% OF UNDERPRODUCTION 14,000 12,000 11,282 10,000 8,000 6,000 4,000 2,256 2,000 ■ ■ 15,795 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 The model phases in new housing development over a 20-year period beginning in 2018 since underproduction was calculated through 2015. It is not reasonable to assume the housing construction industry could immediately start producing new units on this scale. The industry — including producers up the supply chain — needs time to recruit and train new employees and to increase supplies of raw materials. s a Packet Pg. 51 HOUSING UNDERPRODUCTIO 9 6.d The report describes the environmental and local government financing impacts of these two development patterns. This section describes the economic impacts of developing 225,600 units in Washington State via either the Accessible Growth or the More of the Same approach. The Accessible Growth scenario generates greater economic benefits compared to the More of the Same scenario. Rather than generating debt to finance infrastructure costs, leveraging existing infrastructure is a far more efficient use of scarce resources. By doing this, the Accessible Growth pattern focuses on generating consumer spending to benefit the regional economy. Additionally, the Accessible Growth development approach provides more tax revenue -generating units while requiring less infrastructure. Because the Accessible Growth scenario adds additional housing to the densest areas in transit corridors, it leverages existing infrastructure, while providing more tax revenue per acre. Thus, development in the Accessible Growth scenario requires fewer borrowing costs and places a smaller burden on local governments and property developers on a per -unit basis. With much of this infrastructure already in place, building density of this type in cities around the state would PRODUCTION - Awp_ c o N 7 Increased housing production reduces housing prices, which .N increases personal income and spending, and increases GSP, which creates more jobs. L not require a radical restructuring of existing land -use and 0 zoning policies. Q 08 21 Over the simulated 20-year period of housing production, a the Accessible Growth scenario generates $25 billion more in in cumulative GSP ($102 billion) compared to a More of the am c Same scenario ($77 billion). With lower up -front infrastructure 'rn costs and reduced operating and maintenance costs = associated with development, this scenario deploys capital 0 more efficiently and produces higher economic output. r ' j WASHINGTON CUMULATIVE GROSS STATE PRODUCT BY SCENARIO 20-YEAR PRODUCTION PERIOD COMPARED TO REMI BASELINE FORECAST $100 $BO $60 $40 $20 0 $102 $77 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 = ACCESSIBLE GROWTH = MORE OF THE SAME GROWTH Q This chart demonstrates the cumulative GSP achieved in each of the growth scenarios. The growth in GSP is measured against the REMI model's baseline forecast. Packet Pg. 52 20 UP FOR GROWTH 6.d The Accessible Growth scenario produces greater economic benefits than the More of the Same approach. This scenario targets development in transit corridors (areas with existing transportation infrastructure and a large number of households commuting by public transit). As the 225,600 underproduced housing units are built over the 20-year growth period in each scenario, more jobs are added to the economy above the REMI model's baseline forecast. Jobs should not be thought of as cumulative impacts. It's not uncommon for one individual to be employed by the same company for several years, so it's difficult to trace the number of individuals employed year by year. Looking at employment impacts, one can see how many additional jobs are supported in the Accessible Growth development scenario compared to the model's baseline forecast in each year of the production period. For example, at the peak job year (2025), Accessible Growth creates 71,000 more jobs than the REMI baseline forecast, while the More of the Same scenario only generates 65,000. To summarize, both growth scenarios lead to large economic benefits for the state economy compared to the REMI baseline forecast. Producing 225,600 housing units (in addition to expected development over the next 20 years) provides a boost to state and local economies and fiscal revenues. However, there is opportunity for greater economic growth, fiscal health, and environmental benefits by implementing an Accessible Growth development scenario that distributes the new growth in areas with existing density and transportation infrastructure. ■ S% ACCESSIBLE GROWTH ANNUAL INCREASE IN JOBS STATEWIDE r 20-YEAR PRODUCTION PERIOD COMPARED TO REMI BASELINE FORECAST 70 N 60 0 0 H 5 0 0 0 40 VJ f0 CD 30 d cc 20 CD d E a 10 E W f0 0 2016 2017 2018 2019 2020 Illllllllllllllli A MEN EMENEEMENEEMEN Q 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 This chart demonstrates the increase in "job years" above the REMI model baseline projections resulting from the Accessible Growth scenario. Job years are an economic measure representing one year's worth of full-time work. One job year could be one person working full time for one year, or two people working half time for one year. The increases in jobs correlate with the 20-year development time frame and span every sector. Packet Pg. 53 HOUSING UNDERPRODUC I IUN IN WASHINU1 Throughout this report, the benefits of the Accessible Growth alternative are evaluated against the More of the Same approach. The economic impacts of both scenarios are similar, but stark differences emerge when looking at the fiscal impacts of each scenario. The location and type of construction of the Accessible Growth scenario contribute to greater local and state revenues via higher property tax, Business and Occupancy (B & 0) tax, and sales tax. Over the 20 year production period, this means an additional $1 billion in cumulative property tax revenues in the Accessible Growth scenario compared to the More of the Same scenario. Accessible Growth also generates more B & 0 tax and sales tax revenues through the 20-year production period, generating nearly $700 million of additional state revenue compared to the More of the Same approach. WASHINGTON STATE REVENUE 43 CUMULATIVE 20-YEAR PRODUCTION BILLIONS FIXED, 2016 MORE OF THE SAME 3.813 BLE GROWTH B & 0 TAX M STATE SALES TAX 4.513 The red represents cumulative business and occupation (B & 0) tax, and the blue area represents total sales taxes. Corporate taxes and other federal revenue sources are not shown in these calculations. The Infrastructure Spending section on page 18 describes the costs and revenues associated with installing the infrastructure required in each growth scenario. The chart below evaluates the net fiscal impacts of each scenario — combining property tax revenues with impact fee revenues and subtracting infrastructure spending and the ongoing operations and maintenance costs. 0 l� While the two growth scenarios generate roughly the same in local government revenues, the Accessible Growth scenario requires 93% less local government spending over the 20 year development period, due to less upfront infrastructure installation costs and less ongoing Operations and Maintenance (0 & M) costs. With such high upfront and ongoing infrastructure costs, revenues generated from the More of the Same approach are insufficient, and local governments would need to continue to rely on debt to finance this type of growth. In order to determine the incremental impact of new development, the cost of constructing the required infrastructure and the ongoing operations and maintenance costs are subtracted from the total revenue generated by the new development. Although the More of the Same approach generates more impact fees, these increased fees do not nearly cover the required infrastructure investments to support this type of low -density growth. Accessible Growth is able to leverage existing infrastructure to limit installation costs and 0 & M costs while adding additional revenue. The result is a net - positive fiscal impact for Accessible Growth, providing local governments with the revenue needed to continue investing in services to attract and support growth. ■ COMPARING SCENARIO IMPACTS 1 - 11 , LOCAL GOVERNMENT REVENUES Total Impact Fees $3.1B $2.1B 7 -31% Property Tax Revenue (20 Yrs.) $6.3113 $7.3113 15% TOTAL $9.4B $9.401 -0.2% LOCAL GOVERNMENT EXPENDITURES Total Infrastructure Spend $22.5B $1.56 -93% Total 0 & M Spend $528M $64M -88% TOTAL $23.OB $1.6B -93% NET REVENUE (REVENUES - EXPENDITURES) Packet Pg. 54 c E a 22 UP FOR GROWTH 6.d Washington has seen robust job and population growth as entrepreneurs, high -skilled workers, and businesses flock to the state. With the increase in jobs, economic activity, and new residents, innovative policies are needed inside urban areas to maximize access to affordable homes so that Washington maintains its high quality of life for the next generation. Beyond conversations about subsidized housing, housing policy and land -use decisions have largely been left to local governments. At a time when many local governments find themselves paralyzed from making meaningful reforms by a loud but vocal minority motivated to protect and preserve an unfair and unsustainable status quo, a leadership opportunity has emerged for state officials to speak directly and substantively about the need for novel solutions to a growing crisis. In the end, solving the housing crisis will require a reimagining of how state and local investments can help make population- and job -centers more accessible to people and families across the income spectrum. This reimagining relies on local jurisdictions having access to new resources that will allow them to meet their housing needs in new ways. Partnerships between the public and private sectors can bolster local jurisdictions' motivation to make the needed changes in their land -use regulations and turbocharge private -sector production of more housing where it is needed most. Achieving the right balance of incentives to bring down artificially inflated development costs of new housing in urban centers can help ensure more units are built affordably. Cities can incentivize housing production to meet demand, and the state can incentivize cities to utilize a set of tools that allow them to do so without forfeiting their ability to meet their environmental and fiscal obligations. Policy concepts include: • Creating incentives for localities to produce more private sector housing in under -developed, high -opportunity areas; • Implementing clear and objective state development standards in high -opportunity areas — especially those near transit centers; • Providing for planned -action, area -wide environmental review in the permitting process; • Impact fee reform that allows municipalities flexibility when charging fees on denser development while at the same time continuing to realize revenue to fund ongoing maintenance liabilities and environmental mitigation; • Providing support to local jurisdictions to broaden permissiveness of building and operating additional dwelling units in single -family -zoned neighborhoods. The table below is a four -pronged policy prescription for achieving higher densities and more housing units, through smarter growth in transit corridors and urban infill development. ■ n� C UP FOR GROWTH' Citizens Housing Commission Agenda Item Meeting Date: 11/12/2020 Presentation of any Refinements/Additions to Policy Ideas Staff Lead: Shane Hope Department: Citizens Housing Commission Prepared By: Debbie Rothfus Background/History The Housing Commission has been working on policy ideas, in part through small policy committees. The committees bring back their ideas to the full Commission in a public meeting. Staff Recommendation Consider any new or refined policy ideas, particularly from the Round 2 set of ideas, along with the one new idea (regarding security deposit options for renters) presented on October 29. Narrative Policy committees have been asked to transfer their ideas, with any refinements, to a new template (attached) for Commission consideration as a draft policy proposal. Policy committee will be getting their draft proposals (based on previous policy ideas but with any refinements) ready for the Commission's November 19 meeting. On November 12, the Commission will hear from Councilmember Distelhorst about one of the Commission's ideas that have been discussed by a board on which he represents the City. (See attachment.) Then any policy committees that have been working on an update to their Round 2 ideas (see attached list) will share key information. The committee leads will identify whether any of their Round 2 ideas have been --or may be --revised and whether any ideas are not planned to move forward. A brief time will follow each committee's updates for commissioners to ask questions or provide comments. At a future meeting, the Commission will have more discussion and select which draft policy proposals should be circulated for community input. Then after receiving community input, the Commission may update their draft proposals and finalize them for the City Council's consideration in 2021. In 2021, it will be up to the City Council to further review and decide on the recommendations. Taking action on any of the recommendations would include more public input. Attachments: Template.Draft Policy Recommendation_10.06.20 AHA Letter - Council Round2.Policyldeas_11.09.20 Packet Pg. 57 7.a October 6, 2020 Template for Each Draft Policy Recommendation --To Be Completed by Committee Lead or Designee -- INTERNAL INFORMATION' Name of Committee Names of Committee Members (underline name of Committee Lead) EXTERNAL INFORMATION Z Short Name of Draft Policy: Draft Policy (State the policy language, as much as possible, the way you would want it provided to the public and City Council): OPTIONAL INFORMATION 3 (Here you can add background information, explain your purpose, or whatever you want to share about the draft policy. This part may be incorporated into a narrative that explains the policy but it is NOT the policy itself.) 1 Internal information" will not be included in the Commission's final recommendations. However, it is always part of the public record. z "External Information" (with any updates) will be included in the Commission's final recommendations. 3 The Commission has only been asked for "policy recommendations", not a report. Committees are not obligated to complete "Optional Information". However, such info may help provide context for further discussion. Packet Pg. 58 7.b Arlington -Edmonds-4Everett-4Granite Falls -Housing Authority of Snohomish County -A AHA ALoke Stevens ALynnwood-4Marysville -4Mill Creek-4Mountlake Terrace A Alliance for-4Mukilteo ASnohomish -Snohomish County-4Stanwood-AWoodway A Housing Affordability Snohomish County Council 3000 Rockefeller Ave. M/S 609 Everett, WA 98201 October 30, 2020 The Alliance for Housing Affordability (AHA), a collaboration of local municipal governments, was formed in 2013 to address the issue of our housing affordability crisis in Snohomish County. One of the major needs in housing affordability is the commitment of local policy and funding. RCW 82.14.530, amended by HB 1590 in the 2020 Legislative Session, provides the opportunity for legislative bodies like the Snohomish County Council to address the need for local funding for affordable housing. Today, the AHA Joint Board writes to encourage Council action on this issue as an important and needed step to address the County's growing housing affordability crisis. Data that shows the need for affordable housing is exhaustive and widely available, notably in the Snohomish County HART report. That data clearly and strongly speaks to the need for increased affordability across the socio-economic spectrum. Instead of retreading that ground, AHA would like to draw attention to three perspectives that we believe makes clear the need to support adoption of a 0.1 % sales tax for affordable housing. Housing Affordability Deserves a Response Like Any Disaster The first perspective is best framed through this question: "What response would we expect if the Cascadia earthquake happened tomorrow and thousands of Snohomish County residents were suddenly in need of assistance?" One would hope that funding from all levels of government- local, state, and federal - would flow to the region to assist those suddenly displaced by the disaster. This need would be both immediate (emergency shelter) and long-term (as the region's economy would suffer for years after). Wouldn't it be appropriate to raise funds from the public to render assistance to those in need in that case? We hope the answer to that question is, "It would be appropriate, and expected, for that aid to be rendered." If help would be appropriate in event of an earthquake, what do we say to the thousands of households struggling despite their 40+ hours of work a week? The thousands who are currently homeless, or soon to be made so by COVID-19's economic impacts? A common refrain, heard for many years, is to "Pull yourself up by your bootstraps," or simply "Go live somewhere else." Would we say that to residents displaced by an earthquake? Is this difference in response because of the slow-motion nature of the current housing crisis compared to the immediacy of an earthquake? Is it because we simply view the growing number of our affected friends, neighbors, and coworkers as undeserving? Or is it something else? This question bears discussion. If Not Now, When? Setting disaster aside, consider one common reason to reject tax measures: "Now is not the time for a tax increase." If not now, when? When would be the appropriate time for the County Council to use its councilmanic authority to raise taxes? Is the answer, "When times are better, and the economy is stronger"? If that is the case, we would like to encourage the County Council to consider the 8% `banking' of councilmanic property taxes (last done in Ordinance No. 19-065). There were surely good Packet Pg. 59 7.b Arlington -Edmonds-4Everett-4Granite Falls -Housing Authority of Snohomish County -A AHA ALoke Stevens ALynnwood-4Marysville -4Mill Creek-4Mountlake Terrace A Alliance for-4Mukilteo ASnohomish -Snohomish County-4Stanwood-AWoodway A Housing Affordability reasons at the time to bank that taxing authority despite a strong economy, just as there are good arguments today. Putting it all together, it appears that no time will feel right to raise taxes, and in that case, then today is as good as any other time to adopt this measure. Using the Tools We Have Third and finally, it is indeed unfortunate that a sales tax is the option that we must take in support of funding affordable housing creation. Property taxes are the only other funding mechanism of significance, and as discussed above, have been left unused for eight years with no sign of change in the future. In the case of a sales tax, it is notable that as we stood on the precipice of a deep economic recession in 2008 we still passed the 0.1% Chemical Dependency and Mental Health (CDMH) sales tax. We can look back to see what negative impacts were experienced in the wake of its passage. Notably, CDMH has done great work in assisting providers in the work they do to serve Snohomish County residents. Further, like CDMH, this measure for affordable housing would assist in making Snohomish County more competitive in applications for state and federal dollars, which often require or incentivize local funding commitments. These state and local funds are often granted in much larger values than the local funding commitment, so in addition to making Snohomish County more competitive, this measure would leverage funds at a greater than 1:1 ratio from state and federal sources. While the COVID-19 pandemic creates challenging circumstances to adoption of this tax, it also provides a greater imperative to do so. A year from now, whether the pandemic itself has been overcome or not, its impact on the economy and thus the housing market will surely still be with us. At that time and beyond, the lack of a source of local funding to support those affected will be sorely felt, and even more urgently needed. Looking ahead to that future, AHA's members strongly urge the County Council to make it clear that those who work hard, but still make below 60% of the County's median income, deserve as much support as would be expected in the wake of any other disaster. It is understood that taxation is difficult, uniquely so during this pandemic. However, we often do not consider that the impacts of failing to adequately address the shortage of housing will have outsized financial impacts that we will all ultimately pay. Those costs will manifest themselves in the form of charity hospital care, emergency treatment and intervention, law enforcement and incarceration, lowered educational attainment, and more. Worse yet, a lack of action on this will contribute to an ever -thinning social fabric that holds us together in common purpose of decency to one another and the dream of a prosperous future for all. AHA's mission is to keep that dream alive for Snohomish County residents of today and tomorrow, and we thank you for continued support of that work. This letter was approved by a vote of 8-1, with 4 abstentions and 2 absent, by the AHA Joint Board on October 28, 2020. Sincerely, AHA Joint Board Packet Pg. 60 Nov. 9, 2020 Edmonds Housing Commission 7.c Round 2 and "25' Policv Ideas The following policy ideas were part of the Housing Commission's "Round 2" discussion. One new idea ("Renter's Choice") was added on October 29. Note: If Commission members find that any Round 2 policy ideas have been omitted, they should let staff know so the idea can be included in the list. ❑ Adopt city ordinance that prevents evictions from one's home without just cause ❑ Provide financial assistance for emergency home repairs to homeowners earning less than 50% of the area median income. ❑ Revise MFTE program (including to add new lower income tier) ❑ Replace tax incentive programs with zoning incentives ❑ Develop options for cluster housing & cottage housing in single-family zones ❑ Provide "medium density single-family zoning" (viz., townhomes that each have front and rear yards) in areas that are adjacent to/near arterials on high -volume transit lines ❑ Create Neighborhood Villages that encourage a mix of commercial and residential uses ❑ Develop design standards for multiple -family development to promote visual interest, landscaping, etc. ❑ Develop design standards that incentivize affordable units by allowing greater height when upper floor is stepped back ❑ Encourage equitable housing options citywide by developing standards and incentives that could apply to additional housing types (e.g., duplexes) ❑ Encourage equitable housing options with incentives for households earning 60-100% AMI, including more options for "missing middle" housing (aka "racial equity policy") ❑ Update transportation element of City's Comprehensive Plan to include "parking solutions" ❑ Provide childcare voucher program for those who work/live in Edmonds ❑ Adopt inclusionary zoning to require that multifamily development include a portion of units for low- and moderate- income households ❑ Create options for rental housing security deposits (aka "renter's choice") Packet Pg. 61 Citizens Housing Commission Agenda Item Meeting Date: 11/12/2020 Discussion of Full List of Proposed Draft Policies Staff Lead: Shane Hope Department: Citizens Housing Commission Prepared By: Debbie Rothfus Background/History The Housing Commission developed its policy ideas in two separate batches --Round 1 and Round 2. Each batch was presented to the public for input. Together, Round 1 and Round 2 (along with one additional idea presented on October 29) comprise the Housing Commission's full set of policy ideas to date. The policy ideas are preliminary and do not represent any final decisions. Staff Recommendation Begin discussing full list of policy ideas by topic category Narrative Policy ideas from Rounds 1 and 2 have been combined into one larger policy idea list and grouped into major topic categories. (See attachment.) The major topic categories that are likely to need the most Commission discussion are shown first on the list. These topics are being suggested to discuss first. Some of the topics shown later on the list can be addressed much more quickly when the time comes. NOTE: Some of the ideas overlap and may be combined. We expect the combining effort to begin with a committee that is pulled together to work with staff and make recommendations to the full Commission at a subsequent meeting. On November 12, the Commission would begin working through the list, providing comments and questions and identifying which ideas overlap. On November 19, the Commission would work through the next part of the list. At a subsequent meeting, the Commission may select which of the draft policy proposals should move forward for public input. Then, after reviewing input, the Commission would decide which of proposals, with any refinements, will be finalized to submit to the City Council. Attachments: Topic Groupings of Policy Ideas Packet Pg. 62 8.a Topic Groupings of Policy Ideas The following topical groupings of policy ideas are listed in order of their presumed difficulty to address. However, ideas within a topic group are not necessarily in any priority order. The listing represents a high-level summary version of each policy idea; the full ideas have been presented previously. Notes: 1. Some ideas are shown in cross -out format ( X) because they appear to have been dropped or replaced with a newer idea by the initiating policy committee. 2. Commissioners are welcome to alert staff if any policy ideas are missing or mistaken in some way. 3. Some of the listed ideas could later be refined or combined. Housing equity that ee, 'd @pply to dd;�� l heu types ( d� lexe -ate m„-�as+��s���� ice* • Encourage equitable housing options with incentives for households earning 60-100% AMI, including more options for "missing middle" housing (aka "racial equity policy") Incentives / Requirements • Revise MFTE program (including to add new lower income tier) • Replace tax incentive programs with zoning incentives • Adopt inclusionary zoning to require that multiple family development include a portion of units for low- and moderate- income households Housing diversity • Develop options for cluster housing & cottage housing in single-family zones • Allow "medium density single-family zoning" (viz., townhomes that each have front and rear yards) in areas that are adjacent to/near arterials on high -volume transit lines • Create transition areas along transit routes adjacent to commercial zones for "missing middle" housing • Create Neighborhood Villages that encourage a mix of commercial and residential uses • Allow detached accessory dwelling units (DADUs), subject to criteria • Provide DADU design examples Packet Pg. 63 8.a Programs • Provide childcare voucher program for those who work/live in Edmonds • Create options for rental housing security deposits (aka "renter's choice") • Provide financial assistance for emergency home repairs to homeowners earning less than 50% of the area median income • Adopt city ordinance that prevents evictions from one's home without just caus Financial investments to create housing opportunities • Short-term, use City's housing fund (from existing sales tax) to provide rental assistance for low-income households • Longer -term, use City's housing fund (from existing sales tax) to provide for low-income housing needs either through: (a) regional partnerships; or (b) a local Edmonds -only program • Encourage County to adopt a 0.1% county sales tax for housing Regional approach • Coordinate regionally on housing solutions • Expand Edmonds' cooperation with HASCO under new interlocal agreement Design standards for multiple -family development • Develop design guidelines for multiple -family development to promote visual interest, landscaping, etc. • Develop design standards that incentivize affordable units by allowing greater height when upper floor is stepped back • Require new multifamily projects to have a percentage of larger units General • Update transportation element of City's Comprehensive Plan to include "parking solutions" • Simplify zoning code language and add graphics • Streamline the permitting process to reduce need for "conditional use permits" Packet Pg. 64 Citizens Housing Commission Agenda Item Meeting Date: 11/12/2020 Review of Timeline and Next Community Engagement Event Staff Lead: Shane Hope Department: Citizens Housing Commission Prepared By: Debbie Rothfus Background/History Per Council Resolution No. 1427, the Housing Commission's recommendations are due on December 31, 2020, and the Commission will dissolve on January 1, 2021. However, a one -month extension has been requested. The Commission is also considering the next major community engagment opportunity. Staff Recommendation Approve timeline option(s) and community engagement approach Narrative The Housing Commission has been working hard to engage the community and to meet its deadline for making housing policy recommendations for the City Council to consider in 2021. Timeline At the October 29 meeting, the Housing Commission voted to request a one -month extension. Director Shane Hope has submitted the request, including a proposed resolution, for the City Council's approval. A Council decision is expected on November 17. Based on other discussion at the Commission's October 29 meeting, a small committee of the Housing Commission met recently to follow up on questions about the specific timeline milestones. The committee agreed with a revised schedule to reflect having a learning session ahead of some other steps. The revised schedule, which tentatively includes two options, is attached. Option 1 is without the one -month extension; Option 2 is with the one -month extension. Community Engagement For the last round of major community engagement activities, the Commission's Community Engagement Committee has been making tentative plans. These will be shared at the November 12 meeting. Attachments: Timeline Options_updated Packet Pg. 65 9.a Option 1: December 2020 deadline November 12 Combine round 1 and 2 ideas into • one list • November 19 Discuss + learn • December 3 Public Engagement Event(s) December 10 Select drafts — vote • December 17 Final decision - vote • Present round 2 idea recommendations Discuss full list of proposed drafts Discuss community input on drafts Learning session with City Staff What do you need to know to vote on this proposal? Vote on set of formatted draft policy recommendations Vote on final policy recommendations Packet Pg. 66 9.a Option 2A — January 2021 deadline Preferred Commission Option - Pending Council Approval November 12 November 19 Combine round 1 and 2 ideas into • one list Discuss + learn I, December 10 Discuss + learn (continued) • December 17 Week of Jan 4 January 14 January 28 Select drafts - vote PUBLIC ENGAGEMENT EVENT(S) T Discuss • Final Decision - vote • Confirm and/or present ALL round 2 idea recommendations (including new proposals) Discuss full list of proposed drafts Identify topics for discuss and learn session Discuss community input on drafts Learning session with City Staff What do you need to know to vote on this proposal? Discuss community input on drafts Learning session with City Staff What do you need to know to vote on this proposal? Vote on set of formatted draft policy recommendations Discuss all drafts and final refinements Vote on final policy recommendations Packet Pg. 67