Seattle social housing developer could acquire its first building this year
The Seattle City Council recently approved a $2 million dollar loan for the city’s social housing developer. That’s a public development authority that will manage publicly financed housing in the city. It can serve people who make up to 120% of the area median income.
Voters overwhelmingly supported the creation of the social housing developer in 2023. They also approved a funding plan for the developer in February that pays for it by putting in place a new tax on companies with high income earners. Next year, the social housing developer is anticipated to receive an estimated…
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