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King County Regional Homelessness Authority KCRHA Proposed $11.5 Billion Plan to Address Homelessness

King County Regional Homelessness Authority KCRHA Proposed $11.5 Billion Plan to Address Homelessness
The King County Regional Homelessness Authority KCRHA produced a draft plan that demands for $25.5 billion over five years, to address homelessness in King County. (Photo by time.com)

The King County Regional Homelessness Authority KCRHA proposed a $11.5 billion plan to address homelessness in King County. The King County Regional Homelessness Authority KCRHA produced a draft plan that demands for $25.5 billion over five years. A Seattle property purchased by King County for the purpose of housing the homeless cost $11.6 million.

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A lone tent is set up in South Seattle between East Marginal Way South and Highway 99. (Photo by crosscut.com)

According to King County Regional Homelessness Authority KCRHA, the disputed property is located at 1010 East Republican Street in the Capitol Hill area and sits on a 0.07 acre lot that is divided into two sections.

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During the epidemic, more people are now suffering homelessness. Additionally, persons who were formerly permitted to camp in public locations are now progressively being evicted from them. (Photo by kuow.org)

KCRHA produced a draft plan that demands for $25.5 billion over five years

The $11.6 million represents a significant increase over the $8.9 million assessment valuation, or around $322,222 per unit, for the 36-unit complex. Compare this to a recent private transaction involving two parties, such as the sale of the nearby 915 E Harrison Street building for $7.05 million, or around $163,953 per unit for the 43 unit structure. This is actually $6.7 million less than the $13.8 million total appraised value.

For his budget for 2023–2024, Seattle Mayor Bruce Harrell intends to allocate $250 million annually for affordable housing. In its plan, KCRHA explains how it came to a pricing point that is significantly higher than what the governor or mayor had suggested. The funding for little more than 23,000 temporary housing units is the plan’s most notable feature.

In its plan, KCRHA explains how it came to a pricing point that is significantly higher than what the governor or mayor had suggested. The funding for little more than 23,000 temporary housing units is the plan’s most notable feature.

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KCRHA asking for feedback on the draft

The public can submit comment on the draft by visiting this page, as they are requesting it. $8 billion would be spent initially for capital expenses, while $3.5 billion would be required annually for operating expenses. Numerous surveys indicate that homelessness is a major problem in the state of Washington.

In his planned budget for 2023–2025, Governor Jay Inslee allots $4 billion for affordable housing. Reagan Dunn, a member of the King County Council, believes KCRHA ought to pursue a lower price point. Councilmember Dunn claims that his concerns with the plan go beyond its cost.

He wants to ensure that whatever strategy is implemented tackles the underlying causes of the issue.

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