Comments on: More workforce and low-income housing http://ronsims.wordpress.com/2008/04/30/more-workforce-and-low-income-housing/ Thu, 25 Dec 2008 22:33:48 +0000 http://wordpress.com/ hourly 1 By: ronsims http://ronsims.wordpress.com/2008/04/30/more-workforce-and-low-income-housing/#comment-14 ronsims Fri, 02 May 2008 19:31:19 +0000 http://ronsims.wordpress.com/?p=12#comment-14 Thanks for taking the time to comment. You raise valid points: the budget shortfall King County government is facing is the same one being felt by residents across the area, including county employees. One clarification though: we can’t share $2.1 million of the $100 million you referenced because it is not cash in hand, it is additional credit available to developers based on leveraging King County’s credit rating. So for example, when a developer has a project that they will borrow money to build, by partnering with King County, they might be able to borrow a little more or borrow it at a cheaper rate (that’s the credit enhancement) and use the additional amount to cover the cost of adding some affordable housing units (which they make less money on) to the project. We have a difficult budget process this year and our goals will be to balance the budget while continuing to provide services residents depend on from King County in a more cost-effective way. That will require difficult cuts in some areas, but we have resources to help employees who are affected, including retraining and re-employment programs. We will also be working with all of our County unions as we go through the budget process and will make every effort to offset the impacts on employees as much as possible. I know uncertainty about your job can be upsetting and stressful, especially in your case after several years here. As we move through the process, we will keep communication flowing so employees can make timely, informed decisions about their future. Thanks again for sharing your thoughts. - Ron Thanks for taking the time to comment. You raise valid points: the budget shortfall King County government is facing is the same one being felt by residents across the area, including county employees.

One clarification though: we can’t share $2.1 million of the $100 million you referenced because it is not cash in hand, it is additional credit available to developers based on leveraging King County’s credit rating. So for example, when a developer has a project that they will borrow money to build, by partnering with King County, they might be able to borrow a little more or borrow it at a cheaper rate (that’s the credit enhancement) and use the additional amount to cover the cost of adding some affordable housing units (which they make less money on) to the project.

We have a difficult budget process this year and our goals will be to balance the budget while continuing to provide services residents depend on from King County in a more cost-effective way. That will require difficult cuts in some areas, but we have resources to help employees who are affected, including retraining and re-employment programs. We will also be working with all of our County unions as we go through the budget process and will make every effort to offset the impacts on employees as much as possible. I know uncertainty about your job can be upsetting and stressful, especially in your case after several years here. As we move through the process, we will keep communication flowing so employees can make timely, informed decisions about their future. Thanks again for sharing your thoughts. – Ron

]]> By: Concerned http://ronsims.wordpress.com/2008/04/30/more-workforce-and-low-income-housing/#comment-10 Concerned Thu, 01 May 2008 18:15:09 +0000 http://ronsims.wordpress.com/?p=12#comment-10 I think the additional help you are providing for housing opportunities is incredibly important. I understand the basics of how home ownership and taxes keep our revenue afloat. However, I'm also a KC employee who will probably be laid off (again, although I have 8 years with KC) before Jan 1st. I'm also a homeowner. I lose my job, you lose your taxes because I will lose the house and you get to try and find another person to buy the home for less money. Not just me, but I anticipate many others just in District Court. So if KCDC has to find $2.1 million dollars before the end of the summer, which WILL result in many losing their jobs (homes), why not help in other areas also? Can $2.1 of that $100 million be shared? Just curious because ultimately the County will not be "saving" any money by contributing to unemployment rates and potentially the horrendous housing market that we're blaming for our current situation. It makes no sense to me. I think the additional help you are providing for housing opportunities is incredibly important. I understand the basics of how home ownership and taxes keep our revenue afloat. However, I’m also a KC employee who will probably be laid off (again, although I have 8 years with KC) before Jan 1st. I’m also a homeowner. I lose my job, you lose your taxes because I will lose the house and you get to try and find another person to buy the home for less money. Not just me, but I anticipate many others just in District Court. So if KCDC has to find $2.1 million dollars before the end of the summer, which WILL result in many losing their jobs (homes), why not help in other areas also? Can $2.1 of that $100 million be shared? Just curious because ultimately the County will not be “saving” any money by contributing to unemployment rates and potentially the horrendous housing market that we’re blaming for our current situation. It makes no sense to me.

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