The City of Seattle passed the 2023-24 biennial budget, addressing affordable housing and other critical needs.
The budget includes an allocation of more than half a billion dollars towards affordable housing over the next two years. This is made possible because of the progressive payroll tax, which shows a 400% increase in affordable housing funding since 2016.
“The budget passed by Council today dually invests in critical community needs for City’s working families and small businesses, including historic investments in affordable housing, frontline childcare and human service providers, and street safety and mobility improvements,” said Budget Chair Mosqueda.
The budget also allocates $40 million across 2023 and 2024 in Equitable Development Initiative projects that prevent displacement and advance economic opportunity. Projects will also meet community needs with developments including housing, childcare, space for small businesses, and more.
“Solving our city’s unprecedented housing crisis requires a series of smart, bold, and collaborative steps,” said Patience Malaba, Executive Director of the Housing Development Consortium. The leadership of the City of Seattle has stepped up with this historic housing budget adoption, scaling up investments of significant resources.”
$4 million, from a joint effort from the Mayor and Mosqueda will go towards mental health services for Seattle students. The money comes after Seattle students called for better treatment in wake of the Ingraham High School shooting.
Seattle’s human service providers will receive a 7.6% inflationary wage increase. The increase is to ensure that people working to prevent homelessness do not fall further behind, according to a press release.
“The human-centered outreach investments included in this budget will strengthen our regional community-based response to homelessness and bring greater equity across neighborhood areas in Seattle,” said Chloe Gale, REACH Program Director at Evergreen Treatment Services.
To read the full detailed summary of the budget investments, click here.