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Council approves sales-tax deferral to encourage conversion of underused commercial space to housing
Summary
Seattle’s City Council voted unanimously to approve a sales- and use-tax deferral program for conversions of underutilized commercial property to housing that include affordable units (council bill 120937). The bill implements authority created by state law (Senate Bill 6175).
SEATTLE — The Seattle City Council on Feb. 11 unanimously approved council bill 120937, a measure that creates a local sales- and use-tax deferral for projects that convert underused commercial buildings into residential units with an affordable-housing component.
The bill, approved 9–0, adds a new chapter (5.75) to the city code to implement a…
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