After three years, two ballot measures and Tuesday’s City Council vote, Seattle is one step closer to being a more affordable city.
On Tuesday night, Seattle Social Housing (SSHD) hosted an event featuring Mayor Katie Wilson, announcing the organization will be receiving $115 million through a voter-approved tax to build and buy buildings for affordable public housing. Rent is tied to the resident’s income. And because the buildings are mixed income, wealthier residents subsidize the cost. Earlier that day, City Council voted to turn on the tap, unanimously passing the interlocal agreement for the collection and disbursement of the funds between the city and SSHD.
“There is a lot of wealth in the city, and we continue to have one of the most regressive tax systems in the country, in the state,” said Wilson. “And it is very gratifying to know that we’re going to be able to use a little bit of that wealth and put it to work building housing.”…