Bill > SB5725

This bill aims to expand affordable housing opportunities on community and technical college lands by providing several key mechanisms. The legislature recognizes the significant housing affordability challenges facing Washington, particularly for workers in public service, education, and frontline sectors. The bill authorizes the college board to enter into long-term leases (at least 50 years) on underutilized college lands for affordable housing development, with specific provisions to ensure the property remains dedicated to affordable housing. Leases must include restrictive covenants preventing conversion to other uses, and if a project fails to secure financing or does not begin construction within four years, the property reverts to the college board. The bill also provides tax exemptions for leasehold interests in these lands when 100% of units are designated as affordable for low- and moderate-income households, with leases of at least 99 years. Community and technical colleges can support these housing projects by allowing shared parking, road access, and utility connections, and can charge reasonable fees for facility use. Additionally, if an affordable housing project fails to comply with its covenant, the college board can enforce the agreement or retain the right of first refusal to repurchase the property. The overall intent is to create more housing opportunities for essential workers, students, and community members near educational institutions.

Budget and Finance, Housing and Urban Affairs

https://app.leg.wa.gov/billsummary?BillNumber=5725&Year=2025&Initiative=false