Bellevue City Council Nears Approval of 2025-2026 Budget with Added Focus on Affordable Housing Strategy

Bellevue’s City Council convened for the final public hearing on the 2025-2026 Operating Budget on Tuesday, detailing fiscal plans for the next two years, including a comprehensive six-year capital agenda. According to theCity of Bellevue, the Finance & Asset Management team presented the culmination of months of review, infused with public and council feedback. The council is on track to approve the budget on November 19, after directing the staff to finalize the legislation.

During this last hearing, discussion points included the budget s reflection on community input and how it serves as a pivotal policy document for the city’s future. The council also expressed an interest in exploring avenues to address unmet needs through the mid-biennium budget process, scheduled for 2025, meaning additional adjustments could be made in response to emerging fiscal demands, as reported by theCity of Bellevue.

In addition to financial deliberations, the council kick-started an update to Bellevue s Affordable Housing Strategy, a plan with a new goal of developing or preserving 5,700 affordable housing units within ten years. The revised target is a significant increase from the previous strategy adopted in 2017, which set a benchmark for 2,500 affordable units. Bellevue has stayed on course with the original plan and aims to exceed these numbers with the updated strategy.

The aggressive new target, a 128% bump from the last decade’s aim, mirrors the city’s commitment to supporting residents earning up to 80% of the area median income, as the city braces for anticipated growth valid concerns echoed in the newly adopted 2024-2044 Comprehensive Plan. More information on this initiative can be found in the meeting materials linked in the officialcity announcement.

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