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Office of Housing details $25 million annual homeownership budget and pipeline of permanently affordable homes
Summary
Seattle's Office of Housing outlined home repair, weatherization, down-payment assistance and permanently affordable homeownership programs, reporting a $25 million annual homeownership budget in 2026, 358 permanently affordable homes in operation and a pipeline of 22 projects totaling about 455 homes.
Office of Housing officials told the committee that homeownership programs are a key anti-displacement strategy and a tool to address racial wealth disparities. Kelly Larson, director of policy and planning, and Joy Hunt, interim manager for homeownership, presented program details, funding sources and a project pipeline.
Larson said the office's 2026 homeownership investments include $16 million for acquisition and development of for-sale permanently affordable homes and $9 million for weatherization and home repair. She said JumpStart payroll expense tax provides $10 million annually, the housing levy commits $7 million annually, and 5% of MHA revenues are dedicated to homeownership (about $1 million in 2026), producing an estimated $25 million in total annual homeownership funding.
Joy Hunt described…
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