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Consultants tell Bellevue Planning Commission of large affordable-housing funding gap; Phase 2 to test three policy paths
Summary
Consultants presented Phase 1 of Bellevue’s housing economic policy analysis, reporting a wide funding-gap range (low hundreds of millions to several billion dollars annually) and recommending three policy scenarios—incentive zoning, mandatory inclusionary zoning with fee-in-lieu, and a commercial fee-in-lieu—to be modeled in Phase 2.
Madalena, a senior economist with Community Attributes, told the Bellevue Planning Commission that Phase 1 of a housing economic policy analysis is qualitative background meant to shape a more detailed Phase 2 feasibility model.
"This is all information only tonight," Emil, a city staff presenter, said as he opened the study session. Madalena described Phase 1 scope, case-study interviews with municipal staff in five jurisdictions and work that will feed into a financial-feasibility tool in Phase 2.
The firm reported Bellevue currently has more than 5,000 income-restricted affordable units in service and said 39% of the city’s affordable stock entered service in the past five years. The consultants summarized existing local tools—citywide density bonuses, location‑specific…
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