CB 121237 — Version 1 https://webapi.legistar.com/v1/seattle/Matters/17178/Texts/18539 Screen Reader Users: Make sure settings include reading strikethrough and underline font attributes. The City of Seattle Ordinance Council Bill ..title An ordinance relating to the Seattle Office of Housing (OH); placing acquired real property in the Montlake neighborhood under the jurisdiction of OH; authorizing OH to issue a competitive request for proposals for selection of a preferred developer and to execute and deliver a contract for transfer of land, deed, and related documents to the selected developer; and ratifying and confirming certain prior acts. ..body Recitals: Access to surplus publicly owned land for development of affordable housing for income-eligible households at key locations furthers The City of Seattle's fair housing goals and offers cost savings that increase project viability. As of March 31, 2026 the median home sale price in Seattle was $804,000 according to Zillow, which is out of reach for low and moderate-income households. This site offers an opportunity to create affordable homeownership opportunities for low and moderate-income households in a high opportunity neighborhood. Surplus real property in Seattle's Montlake neighborhood (Montlake Homes Site) is currently owned by Washington State Department of Transportation (WSDOT) to support the construction efforts for SR 520. Now that such construction is complete, the land is vacant, and WSDOT seeks to sell and transfer the surplus property in accordance with Washington State Legislature budget provisos in Engrossed Substitute House Bill 2134, subsection 304(21)(b) (Chapter 310, Laws of 2024), and Substitute Senate Bill 6003, Section 1033 (Chapter 259, Laws of 2026). The Washington State Legislature has appropriated $6,050,000 to fund the Office of Housing's acquisition of the Montlake Homes Site from WSDOT for development of permanently affordable homeownership. Therefore, Be it ordained by The City of Seattle as follows: Section 1. The Director of the Seattle Office of Housing or designee (Director) is authorized to execute such documents as deemed necessary for The City of Seattle to purchase the Montlake Homes Site, as described in the legal description attached to this ordinance as Exhibit A, from the Washington Department of Transportation (WSDOT), together with all rights, privileges, and other property pertaining thereto and to pay any additional costs or fees related to such conveyance. Section 2. The Director is authorized on behalf of the City of Seattle to pay an amount not to exceed $6,050,000 to WSDOT and in exchange to accept from WSDOT a deed transferring the Montlake Homes Site to The City of Seattle. Section 3. Upon acquisition by The City of Seattle, the Montlake Homes Site shall be under the jurisdiction of the Seattle Office of Housing (OH). Section 4. The Director is authorized to conduct a competitive process to select a preferred development organization to develop the project, which shall include at least 50 permanently affordable homes on the Montlake Homes Site. Thereafter, the Director is authorized to negotiate and execute a property transfer agreement between OH and the selected development organization or, if approved by OH, the organization's designee or assignee (Developer) and any ancillary documents required to accomplish the transfer of ownership to the Developer, on the terms and subject to the conditions authorized in this ordinance, including those found in the Montlake Homes Request for Proposals Term Sheet, attached to this ordinance as Exhibit B. Section 5. The Director is authorized to execute such other documents and to undertake all necessary actions and obligations necessary for development of permanently affordable homes on the Montlake Homes Site. Section 6. The Director shall provide a summary of the selected proposal to the Chair of the Housing, Arts and Civil Rights Committee, or successor committee, once the competitive process is complete. The summary should identify the developer(s), number and size of units, and affordability levels of units. Section 7. Any act consistent with the authority of this ordinance taken after its passage and prior to its effective date is ratified and confirmed. Attachments: Exhibit A - Montlake Homes Site Full Legal Description Exhibit B - Montlake Homes Request for Proposals Term Sheet This ordinance shall take effect as provided by Seattle Municipal Code Sections 1.04.020 and 1.04.070. Passed by the City Council and signed in open session in authentication of its passage on . President of the City Council on . Katie B. Wilson, Mayor Attested on . Scheereen Dedman, City Clerk Seal OH Montlake Homes Property Acquisition and Transfer ORD Joy Hunt D3 2 Template last revised April 2, 2026 DEPT Short Name of Legislation ORD Author's Name V1 2