Seattle Approves Big Housing Levy

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Seattle voters came through again, passing a seven-year, $145 million levy for affordable housing Nov. 3.

The levy amounts to about $79 a year for the average homeowner in the city.

About $104 million is expected to fund the construction or preservation of affordable rental housing; $4.2 million will go toward rental assistance; $6.5 million will provide short-term loans to purchase land for affordable housing; about $14.4 million will go to an operating and maintenance fund; and $9.1 million will provide home buyer assistance.

In the early returns, Proposition 1 had about 63 percent of the vote.

Since 1981, Seattle voters have approved one bond and three levies to create affordable housing.

About the Author

Donna Kimura

Donna Kimura is deputy editor of Affordable Housing Finance. She has covered the industry for more than 20 years. Before that, she worked at an Internet company and several daily newspapers. Connect with Donna at dkimura@questex.com or follow her @DKimura_AHF.

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