The Seattle City Council has passed an ordinance to hold a special election on February 11, 2025, to propose funding for the Seattle Social Housing Developer through the city’s existing Payroll Expense Tax. This ordinance would allocate $10 million annually from the tax for the next five years to support the acquisition, development, and rehabilitation of social housing. The legislation provides flexibility for the Social Housing Developer, including the ability to access funds without competing in the Office of Housing’s typical funding processes. Up to 5% of the allocated funds may be used for administrative costs. The initiative will be presented to voters as an alternative to Initiative 137, which proposes a separate funding mechanism for social housing development.
This legislation is a key step towards addressing Seattle's housing affordability crisis by securing long-term funding for the Social Housing Developer. By proposing this alternative to Initiative 137, the City Council aims to create a sustainable solution that leverages existing resources without imposing new taxes, ensuring that social housing projects can proceed efficiently to meet the needs of low-income residents.