Battle lines drawn over Seattle's social housing funding options
Voters are poised to decide how to fund the Seattle Social Housing Developer, a public development authority that voters approved by a 14-point margin two years ago.
The fight is between a Seattle Metropolitan Chamber of Commerce campaign backed by Microsoft, Vulcan Real Estate, T-Mobile and others, and a group called House Our Neighbors, whose main backer is the Inatai Foundation, a nonprofit that according to its website serves organizations with "bold visions" to build "power in racially diverse communities."
The Feb. 11 special election ballot asks voters to choose between Proposition 1A, which would levy a new tax on employers requiring them to pay 5% on individuals' total annual compensation over $1 million each, and Proposition 1B, which would allocate existing payroll expense tax revenue.
House Our Neighbors estimates 1A would raise $52 million a year in perpetuity and create 2,000 housing units over 10 years; 1B would provide $10 million a year for a test period of five years.
https://www.bizjournals.com/seattle/news/2025/01/28/seattle-voters-social-housing-proposition-vote.html