The following definitions are listed in alphabetical order for the purpose of these affordable housing regulations, and shall apply to the administration of this chapter. In addition, except as otherwise provided in this section, those definitions as contained in Chapter 11.02 BMC are adopted and incorporated into this section by reference.
A. “Affordable housing” and “affordable unit” mean a dwelling unit(s) reserved for occupancy by eligible households and having monthly housing expenses to the occupant no greater than 30 percent of a given monthly household income, adjusted for household size, as follows:
1. Moderate Income. 80 percent of the area median income.
2. Low Income. 60 percent of area median income.
3. Very Low Income. 50 percent of area median income.
4. Extremely Low Income. 30 percent of the area median income.
5. Pursuant to the authority of RCW 36.70A.540, the city finds that the higher income levels specified in the definition of affordable housing in this chapter, rather than those stated in the definition of “low-income households” in RCW 36.70A.540, are needed to address local housing market conditions in the city.
B. “Area median income” means the median family income for the Seattle-Bellevue, WA Metro Fair Market Rent (FMR) Area as most recently determined by the Secretary of Housing and Urban Development (HUD) under Section 8(f)(3) of the United States Housing Act of 1937, as amended. In the event that HUD no longer publishes median family income figures for the Seattle-Bellevue, WA HUD Metro FMR Area, the city may estimate the median income in such manner as the city shall determine.
C. “Eligible household” means one or more adults and their dependents who certify that their annual household income does not exceed the applicable percent of the area median income, adjusted for household size, and who certify that they meet all qualifications for eligibility, including any requirements for recertification on income eligibility.
D. “Housing expense” means, in the case of renter-occupied housing, rent, tenant-paid utilities, one parking space, and other tenant expenses required for the dwelling unit; and in the case of owner-occupied housing, mortgage, mortgage insurance, property taxes, property insurance, and homeowner’s dues. (Ord. 2325 § 3, 2020; Ord. 2255 § 1, 2018).