U.S. Sen. Maria Cantwell stopped in Vancouver on Friday to promote a bill she introduced last month that’s projected to create an additional 4,288 affordable housing units in Washington over a 10-year period.
The Affordable Credit Improvement Act of 2016 expands low-income housing tax credits by 50 percent. Tax credits are one of the funding tools — the most effective tool, the Washington Democrat said — used to build new affordable housing.
“Without using tax credits, we aren’t likely to make a dent in this issue,” Cantwell said, referring to the housing crisis. “This is one of those steps we shouldn’t wait another year to take.”
In total, Washington would have an estimated 35,216 new affordable housing units built over 10 years. Clark County’s estimated share would be an additional 120 units, on top of the 1,748 units that would be created with the current tax credit allotment, for a total of 1,868 units.