King County Council votes to invest millions toward affordable housing
King County Council earlier this week took a step to unlock millions of dollars for affordable housing.
The council passed a resolution that will allow it to invest about $100 million from the state's sales and use tax into affordable housing over the next 20 years. Under the legislation, the funds can be used for building and maintaining affordable housing units for people who make at or below 60% of the area median income.
The resolution comes after Washington state legislators earlier this year passed legislation authorizing cities and counties to keep a portion of the state's sales tax for affordable housing projects. The revenue from the sales tax would have traditionally gone to the state general fund.
In a statement, Councilmember Jeanne Kohl-Welles emphasized the importance of using every available option to address the homelessness crisis.
"Despite a strong economy we still face significant challenges—including increasing income inequality, housing displacement and homelessness," Kohl-Welles, Chair of the Health, Housing and Human Services Committee, said in a news release.
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