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Seattle committee reviews interlocal agreement to transfer social housing tax proceeds to developer
Summary
City finance staff briefed the committee on an interlocal agreement to transfer proceeds from the voter‑approved 5% social housing tax to the Seattle Social Housing Developer, including a temporary $2 million loan and a March 2 transfer timetable; the ordinance returns for a Feb. 3 vote.
Chair Dan Strauss convened the Finance, Native Communities and Tribal Governments Committee on Jan. 20 to review an ordinance authorizing an interlocal agreement (ILA) for transferring proceeds from Seattle’s voter‑approved social housing tax to the Seattle Social Housing Developer (SSHD).
City Finance Director Jamie Carnell told the committee the tax is a 5% levy on employees doing business in Seattle and — as described in the presentation — is retroactive to Jan. 1, 2025. Carnell said the City is “bound by I 1 37 to transfer the proceeds to the developer.” The ILA is the mechanism the City will use to collect the tax, document administrative…
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