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Seattle approves 30-year bond for building affordable housing
American City and County: The Seattle City Council has approved a $29 million, 30-year bond to spend on affordable housing.
The city council voted 7-2 to approve the bond as part of the city’s 2017 budget, according to the Seattle Times. It joins a $290 million levy to go towards affordable housing that voters passed in August, Seattle TV station KIRO 7 reports. Once the interest is paid in full, the bonds will be valued at about $56 million.
The bond will go towards building 500 affordable housing units, The Stranger reports.
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