The Seattle City Council recently approved a $5 billion city budget for next year, including an initiative sponsored by Councilmember Lisa Herbold to finance the development of new affordable housing through a $29 million 30-year bond. This initiative will supplement a $290 million levy for affordable housing passed in August, which will be used to create or preserve an estimated 2,150 affordable homes across the city. Mayor Murray signed Seattle’s 2017 City Budget last Tuesday.
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