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Seattle Social Housing Developer outlines acquisitions, bonding strategy and staffing after charter‑mandated start
Summary
The Seattle Social Housing Developer told the committee it plans to acquire about 300 units this year, pursue new construction for family housing, issue a special tax revenue bond (targeting roughly $165 million) and pursue land banking; SSHD said it is led by interim CEO Tiffany McCoy and is proceeding with hiring and a permanent CEO search within six months.
The Seattle Social Housing Developer presented an organizational and financial update to the Housing, Arts and Civil Rights Committee on Feb. 14, laying out staffing, governance, financing and production targets as the agency prepares to receive initial payroll‑tax proceeds.
Tiffany McCoy, the interim CEO, told the committee she was appointed at the January board meeting after the governing board removed the prior executive and is overseeing a rapid leadership transition ahead of incoming public funds. "Public trust is essential," McCoy said, describing steps to strengthen financial controls including hiring an interim chief financial officer and accelerating a permanent CFO search.
The presentation summarized the charter obligations created by Initiative 135 and the new payroll tax created by Initiative 137.…
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