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Seattle council approves $2 million bridge loan for social housing developer
5335651 · July 8, 2025
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Summary
The council approved a council bill authorizing up to $2 million in general-fund bridge financing to the Seattle social housing developer to cover staffing and operations until tax proceeds are received in January 2026; the vote was 7-0.
Seattle’s City Council unanimously approved July 8 a loan of up to $2,000,000 from the general fund to the Seattle social housing developer as short-term bridge financing.
Council member Rivera, reporting the transportation and finance committee recommendation, told colleagues the loan is…
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