What is the Home Fund?
A critical part of getting people off of the street is building more housing for our lowest income neighbors. The Home Fund Levy that was passed in 2017 will provide more than $2 million in new revenue each year to develop and sustain supportive housing and affordable housing in our community.
The Home Fund will be partnering with non-profit and for-profit developers to grow more traditionally produced affordable housing units, and look for new ways to build affordable housing in Olympia.
What is the City Doing with Home Fund Dollars?
65 percent of Home Fund dollars (around 1.3 million in 2019) are dedicated to construction of affordable housing and shelter. The other 35 percent will go to operations of homeless and housing programs.
On June 18, 2019, City Council awarded 1.1 million to a partnership that is planning 60 new shelter beds and 60 new supportive housing apartments at 2828 Martin Way. That partnership is led by Interfaith Works and the Low Income Housing Alliance. They will also be pursuing state Housing Trust Fund dollars and federal Low Income Housing tax credits to help fund construction. The property for this development was purchased by the Home Fund.
When Will Housing be Built?
Two apartment complexes for people currently experiencing homelessness hope to break ground in 2020 with a mix of public resources from the City, County, State and other sources. Other apartments for homeless families are also planned. Details will be added to this page as available.
What Kind of Housing will be Built?
Generally, the Home Fund will help build apartment buildings - but lots of approaches to developing affordable housing are possible. Often supportive services could be provided on site.
Where Will Housing be Built?
Local nonprofits will usually identify land suitable for new affordable apartment’s based on available land and its proximity to services (like transit, schools or social services). Sometimes the City or others could buy the land and donate it for affordable housing.
How Will Decisions About Home Fund Dollars be Made?
A Home Fund Advisory Committee (View Member List) was formed in 2019 to make recommendations on the use of Olympia’s Home Fund Levy.
Home Fund Advisory Committee Meetings
- Wednesday, August 14, 2:30 p.m., Olympia City Hall Room 207
- Wednesday, December 11, 2:30 p.m., Olympia City Hall Room 207
Meeting details, agendas and minutes are available online at https://olympia.legistar.com/Calendar.aspx.
Contact Cary Retlin, Home Fund Manager, at 360.570.3956 or firstname.lastname@example.org