Seattle City Council proposes alternative to citizen-led social housing ballot measure
(The Center Square) – Seattle City Councilmembers Martiza Rivera, Cathy Moore, Bob Kettle and Tanya Woo have introduced an alternative to Initiative 137 that would fund the development of affordable, social housing through a tax on employers with workers who make more than $1 million per year.
Council Bill 120864 would amend the city’s JumpStart Payroll Expense Tax in order for the Seattle Social Housing Developer to receive $10 million on an annual basis over five years. There could be future funding if the developer sees positive results.
The funding would be used to acquire, develop, or rehabilitate social housing and provide administrative support to the Seattle Social Housing Developer.
Social housing is housing that is removed from market speculation, is publicly-owned and funded, and is available to people without income restrictions
https://blackchronicle.com/politics/seattle-city-council-proposes-alternative-to-citizen-led-social-housing-ballot-measure/