Voters responded by overwhelmingly passing an affordable-housing levy, according to the Seattle Times. Details of the levy include:
- It will cost homeowners about $17 per $100,000 of assessed property value annually;
- The levy will help build or save 1,670 apartment units for renters earning less than 30 percent of the city’s median annual income; and
- The levy will provide assistance for 550 renters annually, help fund 180 first-time home purchases and allow the city’s Office of Housing to buy land or buildings for future development.
See Marc Ramirez, Seattle overwhelmingly passes affordable-housing levy, Seattle Time, Nov.3, 2009. See also Affordable Housing for more on affordable housing issues.