(The Center Square) – Seattle’s Social Housing Developer now has the power to issue bonds, a tool it plans to use to leverage financing to purchase or build more apartments.
The controversial program is funded by taxes on Seattle businesses that have employees who make more than $1 million a year.
The Seattle City Council unanimously approved charges to the Social Housing Developer’s charter on June 15, a move that Councilwoman Dionne Foster, who sponsored the legislation, said would enable the authority to create more apartments…