Seattle Times columnist Jonathan Martin recently wrote a column advocating for adopting impact fees in Seattle, arguing that “growth doesn’t pay for growth.” That statement is simply not true. New development already generates other taxes and fees, such as the REET and sales taxes, which pay for transportation, infrastructure, and other priorities.

Our association is concerned about the effect of any added fee on housing costs, especially in light of our current housing affordability crisis. Housing affordability is a concern throughout our region and while the developer or builder initially pays the impact fee for new construction in jurisdictions that charge these fees, it is almost always added on to the sale price of the home. Any additional fees would likely be passed along to buyers or renters, further driving up home prices and rents at a time when housing costs are already skyrocketing. New homebuyers would be forced to pay for the fee with interest over the life of their mortgage.

The reality is that impact fees disproportionately affect new homebuyers, especially those at or below the median family income. The increasing use of impact fees and the costs that they add to development raises serious concerns about the effect of using impact fees to fund infrastructure will have on the affordability of housing.

Furthermore, impact fees are a one-time-only assessment and will never replace other fees/taxes in being a good, stable source of revenue. The city would be better served if a more stable type of user fee were used.

FOR IMMEDIATE RELEASE
Media Contact:
Sharon Couts
Master Builders Association of King and Snohomish Counties
425.499.1723

10-Point Action Plan to Fight the Housing Affordability Crisis in the Puget Sound Region to be Announced at 2017 Housing Summit

Free event on Tuesday, October 17, to focus on housing attainability solutions

Bellevue, Wash—October 4, 2017—The Puget Sound area's housing market is in crisis. The demand for housing in our region continues to significantly outpace residential housing supply, making it difficult to purchase reasonably priced homes near job centers. In response, the Master Builders Association of King and Snohomish Counties (MBAKS) has identified a 10-point action plan to help provide attainable housing for our growing population.

"Our region's housing attainability crisis is a big problem that demands bold solutions," said Nick Harper, MBAKS senior director of strategy and policy. "We need to come together to implement a legislative agenda that helps ensure housing opportunities for everyone."

Witness live the unveiling of this bold legislative agenda at the fourth annual MBAKS Housing Summit October 17, at the Meydenbauer Center in Bellevue. The Housing Summit begins at 8:30 a.m. This free event will be emceed by Pat Cashman and will include presentations by top housing experts and area leaders. Featured speakers include:

• Clay White, Principal Planner, LDC Inc
• Elliot Eisenberg, nationally renowned economist
• Jon Nehring, Marysville Mayor
• Gail Luxenberg, executive director, Habitat for Humanity Seattle-King County
• Joe Fitzgibbon, Representative, 34th District
• Brian Bonlender, agency director, Washington State Department of Commerce
• Pat Cashman, emcee, local TV and radio personality

Space is limited. Register online at mbaks.com or by calling (425) 451-7920.

 

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About MBAKS

Founded in 1909, the Master Builders Association of King and Snohomish Counties (MBAKS) has grown to become the largest residential homebuilders association in the United States. With 2,900 member companies, the association is dedicated to membership value, housing advocacy, community service, and financial stewardship throughout the Puget Sound region.

 

By Kurt Scholsser, GeekWire

The Rolls-Royce and the Ferrari parked in front of a real estate sales office in Seattle's Belltown neighborhood Wednesday night were the first indication that this was no normal "house party."

The line of blue-jacketed valets, the red carpet and rope line, the doorman with a list of registered guests, the wine bar, the gourmet hors d'oeuvres, the black-tie-wearing servers, the mini pop-up shop for custom-tailored men's suits—all of that was a pretty good signal, too.

A decidedly less stereotypical Seattle—sans the hiking and rain gear that usually defines us to the world—actually dressed up and turned out to mingle and tour a mock floor plan for a luxury condominium development called Nexus.

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