Mayor Ed Murray issued the following statement following the Seattle City Council’s passage of affordable housing legislation (CB 118505) that renews and expands the Multifamily Tax Exemption program:
“The Multifamily Tax Exemption Program continues to be one of the most important tools to create affordable housing for low- and moderate-income residents near transit, jobs and services throughout Seattle.
“Thanks to the Council for its work to expand the tool so that more working families will benefit. We create a new incentive for more family-sized units, require that buildings include more affordable homes, and expand this opportunity to apartment buildings in neighborhoods across Seattle.
“This effort will make a major contribution to creating 20,000 more affordable homes we will need in our community over the next 10 years.”