The bill aims to enhance community and transit-oriented housing development in Washington State by amending existing laws and introducing new provisions that align housing development with state investments in mass transit and intermodal infrastructure. It emphasizes creating vibrant urban environments that prioritize affordable housing and improve public health through better transportation options. Key amendments include updated definitions for affordable housing and various housing types, with specific income thresholds set for rental and owner-occupied housing. The bill also mandates that cities planning under RCW 36.70A.040 allow multifamily residential housing in station areas and establish minimum floor area ratios for developments, ensuring a percentage of residential units remain affordable.

Additionally, the legislation establishes a grant program to assist cities in developing infrastructure for transit-oriented development (TOD) and outlines regulations that prevent cities from requiring off-street parking for residential or mixed-use developments in station areas. It introduces categorical exemptions for certain project actions within designated urban growth areas, provided they meet specific criteria, and mandates that cities require applicants to record covenants ensuring affordable units remain available for a minimum of 99 years. The bill also includes provisions for tenant relocation assistance, a comprehensive audit program for properties receiving tax exemptions, and guidelines for evaluating tax exemption applications, ensuring accountability and transparency in managing affordable housing initiatives.

Statutes affected:
Original Bill: 36.70A.030, 43.21C.229
Substitute Bill: 36.70A.030, 43.21C.229, 84.14.010, 84.14.020, 84.14.030, 84.14.060, 84.14.090, 84.14.100, 84.14.110
Second Substitute: 36.70A.030, 43.21C.229, 84.14.010, 84.14.020, 84.14.030, 84.14.060, 84.14.090, 84.14.100, 84.14.110
Third Substitute: 36.70A.030, 43.21C.229, 84.14.010, 84.14.020, 84.14.030, 84.14.060, 84.14.090, 84.14.100, 84.14.110