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The SHARE Accelerator will provide streamlined technical support and guidance for energy efficiency retrofits in affordable rental housing within the City of Olympia. Program goals include:
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This program is available to owners of single family or multifamily rental properties registered with the City of Olympia’s Rental Registry who would like to participate. Properties must be located within Olympia city limits and charge affordable rents. Affordable rents for this program are defined as follows:
Subsidized affordable housing, such as Project-Based Section 8 housing, Low-Income Housing Tax Credit properties, and housing projects with local Home Fund or statewide Housing Trust Fund investment.
As a requirement to receive funding and assistance from the SHARE Accelerator program, building owners must enter a contract with the City of Olympia, that includes an affordability covenant to ensure rental pricing is maintained for a set period of time and upgrade costs aren’t being passed on to tenants. Building owners will also be required to report regularly on the status of building upgrades and tenant satisfaction.
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In February 2021, Olympia, Lacey, Tumwater, and Thurston County accepted the Thurston Climate Mitigation Plan (TCMP) as the regional framework to substantially reduce local contributions to climate change. The TCMP identifies reducing energy use in existing residential buildings (Strategy B1) and converting to cleaner fuel sources (Strategy B6) as key strategies for local action to reduce greenhouse gas emissions.
Additionally, in Fall 2022, the City conducted a fair housing survey to better understand local housing conditions and discrimination. Of the 600+ total respondents, approximately 300 were renters and 80 were Housing Choice Voucher participants. The top three environmental health concerns by renters were high heating costs or insufficient heat, high cooling costs, or insufficient cooling, and mold.
Implementation of the SHARE Accelerator supports the City’s housing and climate goals, both of which have been noted as top community priorities. Providing guidance and incentives for energy efficiency, building electrification, and renewable energy is a crucial step in achieving building decarbonization retrofits, improving the quality of local housing stock, and reducing energy burdens for renters.
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Eligible landlords will receive guidance and resources to complete comprehensive upgrades to their rental properties. These upgrades will not only increase their property’s value but will also help streamline compliance with the City’s rental housing policies.
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The upgrades completed under this program will improve safety, efficiency, and overall comfort of participating rental homes. Improved energy efficiency will lower energy bills, which tenants are typically financially responsible for. This program will also help maintain rental affordability due to participating landlords signing an affordability covenant with the City to keep rents affordable over a set period of time.
