City Considers Conversion Fine
While the State seems unable to agree on a conversion bill, the Seattle City Council is taking baby steps to assist low-income tenants. Earlier this week, the council’s Housing, Human Services and Health Committee moved forward Bill 116022 that would fine developers $100 per unit per day if they fail to provide notice to low-income tenants that they are entitled to a $500 relocation assistance payment.
Seattle has seen a proliferation of condo conversions the past few years. Since 2004, approximately 3% of the city’s apartment inventory has been converted.
