Today WA's TOD bill moved out of its second fiscal committee, next stop, the House floor!
If fully passed, this bill will establish a best-in-nation model for funded inclusionary zoning to create mixed-income housing near transit.
https://app.leg.wa.gov/BillSummary/?BillNumber=1491&Year=2025&Initiative=false
If fully passed, this bill will establish a best-in-nation model for funded inclusionary zoning to create mixed-income housing near transit.
https://app.leg.wa.gov/BillSummary/?BillNumber=1491&Year=2025&Initiative=false
Comments
Last year the city passed an ordinance to update its IZ program so that it's more fully funded.
https://www.sightline.org/2024/02/23/now-fully-funded-portlands-affordability-mandate-should-be-a-model/
Washington has the opportunity to be the first state to make funded IZ a statewide standard for TOD.
https://www.sightline.org/2024/10/28/to-fix-inclusionary-zoning-fund-it/
Ultimately the question of tax credits is separate from IZ requirements. You don’t have to do one with the other. More homes would certainly be built with credit funding and no IZ req. Political will is the only binding factor.
In any case, Portland housing production is in the toilet right now (which is why there was a political window to actually fund IZ) but I’m encouraged by the fact that so many projects have opted in https://docs.google.com/spreadsheets/d/1HjAZLinOSR6sxPxQMTxzGYcuo4Gt_uGjbJGLsDAtl6s/edit