VANCOUVER, Wash. (KOIN) – Vancouver voters approved an affordable housing levy in a special election Tuesday that will provide funding for affordable housing for people with low incomes in the city.
Starting in 2024, Proposition 3 will raise $10 million annually and total to $100 million in 10 years. It will replace the city’s current affordable housing tax levy that expires at the end of 2023.
Funding will be used to prevent homelessness and create housing for those earning less than 50 percent of Vancouver’s Area Median Income.
According to a City of Vancouver press release, officials project that the replacement levy will assist 2,500 households with rent and housing services and 150 households with home ownership.
It will also preserve or construct 2,400 affordable units and 550 shelter beds.
Mayor Anne McEnerny-Ogle said she appreciates voters’ support for affordable housing in the community.
“By approving this levy, voters have said they want us to continue our work to address affordable housing and homelessness in Vancouver,” McEnerny-Ogle said. “I want to express my appreciation to Vancouver voters. Thank you for supporting this critical work.”