https://nighthawkrottweilers.com/

https://www.chance-encounter.org/

Business

Microsoft commits $ 500 million investment to cope with affordable housing crisis: NPR




Brad Smith, president of Microsoft Corp., speaks during a presentation on affordable housing in Bellevue, Wash., On Thursday. Microsoft Corp. says it will spend $ 500 million to develop affordable housing and help ease homelessness in the Seattle area.

Bloomberg / Bloomberg via Getty Images


hide caption

change caption

Bloomberg / Bloomberg via Getty Images

Brad Smith, president of Microsoft Corp., speaks during a presentation on affordable housing in Bellevue, Wash., On Thursday. Microsoft Corp. says it will spend $ 500 million to develop affordable housing and help ease homelessness in the Seattle area.

Bloomberg / Bloomberg via Getty Images

Microsoft is investing $ 500 million to help develop affordable housing and address homelessness in the Seattle area, as the growth of technology companies in the region continues to flood the real estate market with highly paid workers, leaving many other people.

The software company made the announcement on Wednesday, explaining that the fall will be distributed over the next three years. Most of it will go towards preserving and building new homes for low-income and middle-income residents. A much smaller portion will immediately go against homeless services and programs to prevent people from being thrown out – by a count conducted in January 2017, the city registered more than 11,500 homeless residents.

"The housing situation in the Puget Sound region has reached a point where it is appropriate to use the word" crisis, "said Microsoft President Brad Smith on Tuesday to the NPR member, KUOW.

" The lack of vacancy forces many people – school teachers, nurses, the first respondents, many others who work at companies – to endure longer and longer commutes. And we have even worse problems for people who are homeless, says Smith.

Research from Microsoft found that job growth has exceeded housing construction at such a rapid pace, the company said: "This gap in vacant homes has led to housing prices increasing by 96 percent. Over the past eight years, making the Greater Seattle area the sixth most expensive region in the United States. "

Smith noted the long-term goal of the company, headquartered in the Seattle suburb of Redmond, to ensure lower and middle-income workers Can continue to live near where they work, rather than being priced.

"I think when you take people who play important roles in a society and you force them to live in another society it's really vital to all of us," Smith said.

The company will offer $ 225 million in low-cost loans to subsidize the preservation and construction of medium-sized or workforce residences in six cities – Redmond, Bellevue, Kirkland, Issaquah, Sammamish and Renton – where the company employs more than 50,000. The resulting homes will target households between $ 62,000 and $ 124,000 per year.

Another $ 250 million in market interest loans will support low-income housing through King County. These are meant for households who earn 60 percent of the local median income – about $ 48,000 for a two-person household.

And $ 25 million in philanthropic grants have been awarded to cope with homelessness in the larger Seattle region, including a $ 5 million home base, a program created by the Seattle Mariners, the King County Bar Association and the United Way of King. County, to provide legal assistance to people facing evictions from their homes.

The promise comes as Microsoft plans to expand its presence in the area of ​​an additional 8,000 employees. The Seattle Times reported that the software company is adding about 2.5 million square feet in newbuilding to the Redmond campus and is planning to renovate another 6.7 million square feet.

According to Microsoft, it began working on the plan eight months ago, meaning it went ahead of the Seattle City's failed main tax effort last year. The proposed tax would have required large companies to help finance affordable housing and homeless services. But Amazon, the city's other technological giant, was instrumental in killing that effort.

Microsoft's efforts to improve the housing crisis responded with a recent promise by the mayors of nine neighboring cities to take concrete steps to increase the supply of quality housing. Among the changes they seem to implement, zoning and usage adjustments are changing to increase the density of public transport, streamline and accelerate the residential and mid-sized residential permit process, and provide tax incentives to encourage such developments.

Smith and Microsoft Finance Director Amy Hood said in a blog post that they are hopeful, other companies will also work with local organizations and city and state agencies to bridge the affordable housing shortage.

"Finally, a healthy business must be part of a healthy society," they wrote. "And a healthy society must have homes that are within the economic reach of every part of society, including the many dedicated people who provide the vital services we all trust."



Source link

Back to top button

mahjong slot

https://covecasualrestaurant.com/

sbobet

https://mascotasipasa.com/

https://americanturfgrass.com/

https://www.revivalpedia.com/

https://clubarribamidland.com/

https://fishkinggrill.com/