Executive/Council Action Form (ECAF)
ITEM TITLE:
Title
Motion 25-575, approving a change of scope for the HASCO 200th Street Redevelopment Project awarded AHBH funding
body
DEPARTMENT: Human Services
ORIGINATOR: Jackie Anderson
EXECUTIVE RECOMMENDATION: Approved by Lacey Harper 12/9/25
PURPOSE: Change of Scope Motion 2024 AHBH HASCO 200th St. Project Award
BACKGROUND: County Council approved Motion 24-425 making 2024 Affordable Housing and Behavioral Health (AHBH) affordable housing awards which included the HASCO 200th St. Redevelopment Project. The Housing Authority of Snohomish County (HASCO) has submitted a request to approve a change in scope for the project. There have been several factors that have impacted the project's original scope. These range from the uncertainty surrounding tariffs that have driven up the cost of construction in an already high-cost environment, a financial market with high interest rates increasing the borrowing costs of debt, and a revision to private activity bonds on 4% low-income housing tax credit projects which has unintendedly lowered tax credit equity pricing. Per HASCO, all these changes have resulted in a project that was not financially feasible. Additionally, HASCO did not receive funding originally applied for, creating a budget shortfall. HASCO evaluated the project to address the financial feasibility factors which resulted with an updated design of the buildings and populations served.
Original Scope of Work The original scope of work outlined in the application included the demolition of two properties consisting of 57 units, formerly known as Timberglen and Pinewood situated on two parcels located on 200th St., in Lynnwood, WA. After demolition, the redevelopment plan was to construct two residential multi-family buildings, combining the two properties into one modern complex, featuring 100 newly constructed units of affordable housing contained within 4 garden style walk-up buildings, communit...
Click here for full text