Mayor Jenny Durkan announced plans to invest $100 million to build and preserve 1,450 affordable homes in Seattle. That includes 896 new homes across nine buildings.
The city will use money from the 2016 Housing Levy as well as money from the sale of surplus properties, $29 million in bonds approved by the City Council and money from incentive zoning payments.
The last represents money paid to the city by developers who want to add more floor area than zoning typically allows. They can either build affordable units or contribute money.
An April 2017 audit showed that at least 10 projects were behind in such payments, and that the city did not have an accurate accounting of projects for which payments were due.
Ashley Archibald is a Staff Reporter covering local government, policy and equity. Have a story idea? She can be can reached at ashleya (at) realchangenews (dot) org. Twitter @AshleyA_RC
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