7. How will the money be spent?

A:

A special fund will be created by Olympia as a result of this sales tax for the collected money, so no money collected by Olympia as a result of this tax will go into the City's general fund.

The allocation of the proposed Housing Fund is as follows:

  • Increase Housing Supply (72%): Through a competitive grant process, the sales tax provides funds to developers and nonprofits to rehabilitate, preserve, and build new affordable and supportive housing.
  • Operations & Support Services (15%): Provides funds to operate the newly constructed units and to provide case management and other support for vulnerable adults and children.  
  • Implementation (8%): Resources for staff to develop contracts, manage the program, and conduct monitoring for compliance.
  • Rent Assistance (5%): Provides funds for rent vouchers and self-sufficiency services, primarily via rapid rehousing and shelter diversion programs.

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