To address the growing lack of affordable housing and number of people experiencing homelessness, Inslee is proposing the state raise $4 billion by issuing bonds outside the state’s debt limit.
If lawmakers ok the referendum and voters approve it next November, the money would be spent on emergency supportive housing for unhoused people, affordable housing units and helping low-income first-time homebuyers with down payments and closing costs.
“Unfortunately, we no longer have the influx of federal funding we are using today to quickly build thousands of new supportive housing units for people experiencing homelessness,” Inslee said in a statement. “I don’t want to lose momentum, and I don’t want the problem to get worse because we aren’t moving fast enough.”
The additional money would pay for about 5,300 housing units between 2023 and 2025 and 19,000 in the following six years, according to the proposal. Nearly 13,000 people are living unsheltered throughout Washington state — up from more than 10,500 in 2020, according to the state’s 2022 Point in Time Count.Inslee also wants to shore up the state’s ability to care for residents with behavioral health needs, including money for state-run care, community-based and youth services.
His budget further outlines spending for early childhood education, protecting the Washington salmon population, and building five new hybrid-electric ferries and converting three to hybrid-electric.
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