Funding and budgets

Neighborhood House and YWCA benefit from SHA's New Market Tax Credits

SEATTLE—December 28, 2007—Legal agreements were finalized on December 28 to provide Neighborhood House and the YWCA with $20 million in financing for new and remodeled facilities. The deal was arranged through SHA, using New Market Tax Credits that were awarded to the Housing Authority by the U.S. Treasury Department in July of 2006.

Board of Commissioners approves 2008 budget

SEATTLE—October 17, 2007—With funding restored for one community program, and additional funds set aside for the development of expanded services for East African residents, the Seattle Housing Authority’s Board of Commissioners unanimously approved the agency’s 2008 budget at their September meeting.

2008 Budget draft presented to board

SEATTLE—September 17, 2007—Seattle Housing staff presented a draft of the Housing Authority's combined operating and capital budget for 2008 that is nearly $40 million smaller due to progress on redevelopment projects, including homeWorks. The combined budget, showing $261.5 million in revenues, was presented to the Board of Commissioners at their September 17 meeting. It will be voted on at the Board meeting in October. Click here to read more.

Housing appropriations moving forward in D.C.

SEATTLE—September 12, 2007—The U.S. Senate has passed an appropriations bill for the national HUD budget, joining the House of Representatives in funding housing assistance at a higher level than proposed by the president. In spite of bipartisan support for these funding increases, housing appropriations still face the obstacle of the president's threatened veto. Click here to read more.

Congress turns attention to housing issues

WASHINGTON, D.C.—July 19, 2007—Legislators in Washington, D.C. have taken significant actions in three major areas during July. Committees in both the House and the Senate have passed housing appropriations, the House has passed Section 8 reform legislation with significant bi-partisan support, and Rep. Barney Frank (D-Mass) has proposed a national housing trust fund to bring up to a billion dollars a year in resources to the creation of new affordable housing. Click here to learn more.

Congress passes 2007 appropriations - housing gains ground

SEATTLE—February 20, 2007—Both houses of Congress have approved a joint resolution that restores $300 million to public housing funds and adds to the Housing Choice Voucher Program. The far reaching bill, expected to be signed by President Bush, pulls together nine unfinished spending bills funding foreign aid and nearly every domestic agency budget. It provides $464 billion in funding for the remainder of 2007. Click here for details on its effects on housing.

Appropriations for housing unlikely this year

SEATTLE—November 29, 2006—Members of Congress return to Washington, D.C. at the beginning of December to take up their work. And while there are high expectations from Democratic Party members that the new Democratic majority will deliver on a more progressive social agenda, Democratic Party leaders appear initially to be taking a fairly cautious approach. Click here to find out more.

SHA Commissioners pass annual plan and budget

SEATTLE—August 15, 2006—This coming fiscal year's Moving To new Ways plan and agency budget were approved by SHA's Board of Commissioners last month. Several actions in the plan and budget will affect current and future SHA residents and community members. For more details and copies of the plan and budget, click here.

SEATTLE—August 1, 2006—Congress members went home for summer vacation before passing the Office of Housing and Urban Development budget, but behind-the-scenes advocacy continues as housing agencies across the country seek to maintain adequate funding levels. The funding picture has been further complicated by rising utility costs, which HUD has failed to take into account in its current budget. For an analysis of the current funding situation, click here.

SEATTLE—July 5, 2006—Seattle Housing Authority recently received notice of an award of $20 million in New Market Tax Credits. These tax credits, awarded by the U.S. Treasury, are used to stimulate commercial activity in areas where it might otherwise be difficult to achieve. SHA intends to use the tax credits at its High Point redevelopment. For additional details, click here.