Council Roundup: Final budget hearing

Published November 15 2024

Plus, Affordable Housing Strategy update launches

On Tuesday, the City Council held the third and final public hearing on the 2025-2026 Operating Budget and five-year Capital Improvement Program. Bellevue's budget is produced every two years and includes a six-year capital budget. It serves as a major policy document and describes how the city intends to finance its services and infrastructure.

Finance & Asset Management staff delivered a final presentation on the budget process and how the final budget document reflects feedback from the council, which included consideration of public input throughout the months-long budget review process. The council directed staff to bring back legislation to approve the budget at their meeting on Nov. 19.

The council discussed ways to address unmet needs and requests through the mid-biennium budget process in 2025.

Full details available in meeting materials.

Affordable Housing Strategy update launched

The council also launched an update to Bellevue's Affordable Housing Strategy - a seven-year plan aimed at producing or preserving 5,700 affordable units in Bellevue over the next 10 years.

The city established a 10-year target of adding or preserving 2,500 affordable housing units when it adopted the current Affordable Housing Strategy in 2017. Since implementing the 2017 strategy, the city remains on track to meet its original affordable housing unit target.

The new "starting point" target of 5,700 affordable units - approved by the council in May - represents a 110% increase over the amount of affordable housing achieved during the past seven years and is a 128% increase from the prior 10-year target for affordable housing production or preservation.

The updated affordable housing target and strategy will focus on creating housing opportunities for residents earning up to 80% of the area median income and helping the city keep pace with expected growth projections in the recently adopted 2024-2044 Comprehensive Plan. Work on the Affordable Housing Strategy update will occur over the next year and include a range of community engagement opportunities.

Full details are available in the meeting materials.

Dutch American Heritage Day proclamation

The council issued a proclamation for Dutch American Heritage Day, which was accepted by Leo van Dorp, the Netherlands General Counsel for Seattle.